Personal Loans
A helping hand when you need it
From paying down debt to a smarter way to manage your finances, an approved personal loan can help you reach your goals.
Big Benefits
Less interest. More Control.
Used wisely, a personal loan can be a powerful financial tool by helping you save on interest payments which could help you pay debt down faster.
4 Smart Ways to use a Personal Loan
Debt Consolidation
Consolidating debt is a tried and true method to get your finances back on track. A personal loan typically has lower interest rates than a credit card, so if you're carrying an ongoing credit card balance, you could save money on interest charges by taking out a personal loan and paying off your credit cards.
Home Improvement
In the Islands, repairing the roof or fixing up termite damage can be a normal part of keeping your home in good shape. And think about how much more useful and enjoyable your place could be if you upgraded and modernized one or two of its rooms, such as the kitchen or the bathroom. Taking out an unsecured personal loan can be a straightforward, accessible way to invest in your home, boosting its value and increasing your equity. And, if you're on a timeline, getting approved for a loan can be quicker than other alternatives such as home equity lines of credit, mortgage refinances or home equity loans.
Large Purchases
If you need to make large purchases such as kitchen appliances or a new living room set, using a personal loan, as compared to credit cards, could help you pay less on monthly interest charges.
Emergency Expenses
We don't like to think about medical emergencies, but accidents and illnesses can happen—often when you least expect them. While a good health insurance policy is a must, it can be reassuring to know that you can use a personal loan to help pay off medical debt, high deductibles and out of pocket expenses.
1 For redemptions submitted online between 10 PM and 6 AM HST, funds may not be available until the next business day at the latest. If you redeem at a branch, you will be funded same day.
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Redeeming your approved personal loan is fast and easy.
You can start the redemption process through one of two convenient ways:
- Debit Card and Pin – Use your Bank of Hawaii debit card number and 4-digit pin
- Contact information – Use your contact information and redemption code provided to you through email or mail
If you prefer to redeem in person, visit any Bank of Hawaii branch. You can also save time by booking an appointment. Please remember to bring your government issued photo ID and redemption code.