Special Employee Loan Programs
Two ways you can borrow money
Bank of Hawaii is offering two exclusive unsecured personal loan programs for its employees. The first one is the Employee Assistance Loan (EAL) with a low rate and waived loan fee with automatic payments from a Bank of Hawaii checking or savings account. The second is the Employee Discounted Loan program which provides discounted rates on our unsecured Bankoh Personal Loan and Bankoh Personal Loan for Homeowners. Whether it’s a planned event or an unexpected expense, our personal loans are designed to provide financial support when you need it.
Employee Assistance Loan
The EAL is a Bankoh Unsecured Personal Loan designed with features just for Bank of Hawaii employees. Plus get a discount on your interest rate and waived loan fee when you set up automatic payments*.
Features
- EAL interest rate with automatic payments is 7.00% (7.017% APR)*
- $50.00 loan fee waived with automatic payments*
- 36 month loan term
- Loan amounts range from $1,000 - $10,000
Requirements
- Bank of Hawaii full-time, part time or peak time employees residing in Hawaii, Guam, Saipan and Palau
- A Bank of Hawaii checking or savings account for automatic payment discount and loan fee waiver
- We will use your credit report when processing your request
* With automatic payments from a Bank of Hawaii checking or savings account. Estimated Annual Percentage Rate (APR) is based on a $5,000 loan amount for a 36 month term. Without automatic payments, the interest rate is 9.00% (estimated APR 9.703% based on a $5,000 loan amount for a 36 month term) and there is a $50.00 loan fee. The Employee Assistance Loan (EAL) interest rate and terms are subject to change at any time.
Loan Amounts
- With automatic payments1
- Without automatic payments1
| Less than 1 year of service |
|
1 - 3 years of service |
|
3 or more years of service | |
|---|---|---|---|---|---|
|
Minimum loan amount |
$1,000 |
$1,000 |
$1,000 |
||
|
Maximum loan amount2 |
$2,000 |
$5,000 |
$10,000 |
||
|
Employee Annual Percentage Rate1,3 |
7.016% |
7.017% |
7.017% |
||
|
Estimated monthly payments per $1,000 borrowed4 |
$30.97 |
$30.97 |
$30.97 |
1 With automatic payments from a Bank of Hawaii checking or savings account, the APR is based on the interest rate of 7.00%, the loan amount, and a 36 month loan term. Without automatic payments, the interest rate is 9.00% and there is a $50.00 loan fee.
2 Maximum loan amount will depend on your years of service with Bank of Hawaii and other credit factors.
3 Employee Assistance Loan interest rate and resulting Annual Percentage Rate (APR) are subject to change at any time. The APRs are based on the maximum loan amounts shown.
4 Based on a $1,000 fully amortized 36 month loan at 7.016% APR. Your minimum monthly payment may differ based on your approved loan amount.
| Less than 1 year of service |
|
1 - 3 years of service |
|
3 or more years of service | |
|---|---|---|---|---|---|
|
Minimum loan amount |
$1,000 |
$1,000 |
$1,000 |
||
|
Maximum loan amount2 |
$2,000 |
$5,000 |
$10,000 |
||
|
Employee Annual Percentage Rate1,3 |
10.754% |
9.703% |
9.358% |
||
|
Estimated monthly payments per $1,000 borrowed4 |
$31.81 |
$31.81 |
$31.81 |
1 Without automatic payments from a Bank of Hawaii checking or savings account, the APR is based on the interest rate of 9.00%, a $50.00 loan fee, the loan amount, and a 36 month loan term. With automatic payments, the interest rate is 7.00% and the $50.00 loan fee is waived.
2 Maximum loan amount will depend on your years of service with Bank of Hawaii and other credit factors.
3 Employee Assistance Loan interest rate and resulting Annual Percentage Rate (APR) are subject to change at any time. The APRs are based on the maximum loan amounts shown.
4 Based on a $1,000 fully amortized 36 month loan at 12.555% APR with a $50 loan fee. Your minimum monthly payment may differ based on your approved loan amount.
How to apply for the Employee Assistance Loan
You can apply for the Employee Assistance Loan online5 using our dedicated employee portal. The application process is fast, easy and available any time. If you are unable to apply online, you may also book an appointment to apply at any branch.5
Dedicated Employee Portal (online6):
- Apply on your own, anytime (24/7)
- Application information is confidential
- Use your Bank of Hawaii email address7
If approved:
- You will sign for the loan electronically using DocuSign
- To log-in to DocuSign, your Access Code will be “boh” followed by your 5-digit employee ID number (no spaces and lower case). Example Access Code: boh12345
- Loan proceeds will be deposited into your Bank of Hawaii checking or savings account
In Branch:
- Book an appointment at any Bank of Hawaii branch using the button below
- Visit the branch to apply
If approved:
- You will sign your loan documents at the branch
- Loan proceeds will be deposited into your Bank of Hawaii checking or savings account
5 If your application is submitted online – closing will be using DocuSign. If your application is submitted in branch – closing will be in branch.
6 If you wish to apply for the EAL, you must apply using this employee dedicated portal or in branch. If you apply for a personal loan via boh.com, you may be declined because different underwriting will be applied.
7 BOH email address is preferred; if you’re not able to access your BOH email address, your personal email address can be used.
Employee Assistance Loan FAQs
Can I obtain multiple Employee Assistance Loans?
No more than one Employee Assistance Loan (EAL) is allowed at any point in time. Employees can refinance an existing Employee Assistance Loan with a new one as long as 12 months have passed since their account was opened, and they have a good payment history.
How long is the loan term?
The loan term is 36 months.
Are there any fees to set-up this loan?
If you set up automatic payments from a Bank of Hawai’i checking or savings account, the standard $50 loan fee is waived. Without automatic payments you will be charged the $50 loan fee.
How do I know the maximum loan amount I can obtain?
The table above displays the maximum loan amount you are eligible for based on your years of service employed at Bank of Hawaii. In addition to years of service, other credit factors will be used to determine the maximum loan amount you are eligible for. Service years are calculated as your current active employment period. To find your hire date and calculate your years of service, login to PS Connect and navigate to personal information > personal details > demographic info > start date, or ask your manager.
What checking and savings accounts can be used for this loan program?
All Bank of Hawaii deposit accounts that allow for automatic debits to be set up are eligible accounts, including but not limited to: Employee checking accounts, EASE by Bank of Hawaii, Convenience Checking, Bankohana accounts, Regular Savings, or Bonus Rate Savings.
How many applicants can apply for the Employee Assistance Loan?
The Employee Assistance Loan can only take one applicant. The applicant must be a current full-time, part-time, or peak Bank of Hawaii employee.
Have additional questions?
Please contact DL0095ConsumerLendingProductandMarketingTeam@boh.com.
Employee Discounted Loan Options
Our Employee Discounted Loans provide higher loan amounts and different loan term options compared to the Employee Assistance Loan. Discounted interest rates are available for employees approved for a Bankoh Personal Loan and Bankoh Personal Loan for Homeowners. Standard underwriting will be applied.
How to apply for Employee Discounted Loans
To apply for these loans, click the Get Started buttons below. You will need to indicate your employer as Bank of Hawaii when asked about your current employer on your application to receive your special benefits. Standard underwriting will be applied.
Bankoh Personal Loan
- Loan amounts range between $1,500 - $20,000
- 24, 36, 48, or 60 month loan terms
- Maximum of two applicants
Exclusive to BOH Employees:
- 2% interest rate discount8
- Payment range from $212.47 to $482.499
- $50 loan fee waived
Standard underwriting will be applied
Bankoh Personal Loan for Homeowners
- Available to homeowners in the State of Hawaii and Guam
- Loan amounts range between $5,000 - $50,000
- 24, 36, 48, 60, or 72 month loan terms
- Maximum of two applicants
Exclusive to BOH Employees:
- 2% interest rate discount10
- Payment range from $177.78 to $454.5611
- $50 loan fee waived
Standard underwriting will be applied
* When visiting the page, simply subtract 2.00% to see what your rate may be. You will not see the employee discounted rates/payments.
8 The 2.00% interest rate discount will be applied to the rate that you are approved for. The Bankoh Personal Loan interest rate range with the employee discount is 9.00% - 15.50%. Full application is required and standard underwriting will be applied. You must state Bank of Hawaii as your employer on your application to be eligible for these discounts.
9 The estimated payment of $212.47 is for a loan amount of $10,000, a term of 60 months, and a rate of 10.00% APR (Annual Percentage Rate). The estimated payment of $482.49 is for a loan amount of $10,000, a term of 24 months, and a rate of 14.50% APR.
10 The 2.00% interest rate discount will be applied to the rate that you are approved for. The Bankoh Personal Loan for Homeowners interest rate range with the employee discount is 7.50% - 9.50%. Full application is required and standard underwriting will be applied. You must state Bank of Hawaii as your employer on your application to be eligible for these discounts.
11 The estimated payment of $177.78 is for a loan amount of $10,000, a term of 72 months, and a rate of 8.50% APR. The estimated payment of $454.56 is for a loan amount of $10,000, a term of 24 months, and a rate of 8.50% APR.
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