Please remember that First South will never call you from our main number, 901.380.7400, and ask you to provide your full Social Security Number, full credit or debit card account number, the code on the back of the card, the expiration date or other pieces of sensitive information, such as any codes or temporary passwords used to reset access to online or mobile banking. We take the safety and security of your personal information very seriously and have many procedures and safeguards in place to keep your information safe and secure. 

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Fresh Start Saver Loans

Fresh Start Saver Loans

Need to re-build your credit history? Need to build a credit history? We can help.

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Our Fresh Start Saver Loan program is designed to help you accomplish two very important goals:

  1. Repair or establish a good credit rating
  2. Save money

Here are the details of our loan program:

  • Select the amount you wish to save (see the chart below)
  • We put that same amount of funds on hold in a special savings account - 100% of the amount will remain on hold the entire time the loan is in repayment
  • Make your payments on time
  • Your positive payment history is reported to the credit bureaus

Only when you have repaid the loan in full will you have access to the funds that have been on hold in the special savings account. 

Since this loan is secured by the funds we place in an account on your behalf, your credit history is not considered in the approval process. 

Should you decide to cancel the loan or if you do become delinquent, we will close the loan and return the payments you made back to you. This will be done the day before the loan is considered 30 days delinquent, so no negative payment history will be reported.

Fresh Start Saver Loan
Effective Date: Saturday, December 2nd, 2023
Loan AmountAPRTerms (in months)
$500.00 to $2,000.00 10.00%* 12

Or call us at 901-380-7400 or stop by any one of our banking centers.

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*Rates are subject to change or withdrawal without notice, please see us for complete details.

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