Flexibility to borrow over and over
Borrow up to $250,0004
Prime-Based Variable interest rate5
A Private Banking Secured Line of Credit from FNB gives you the flexibility to borrow up to your credit limit at any time.1 Whether you use your line for overdraft protection or just as a cushion for those unexpected expenses, a line of credit provides you the borrowing power you need to help meet life's financial demands.
A Private Banking Secured Line of Credit allows you to borrow up as much as you need, at any time, up to a certain amount - unlike an installment loan that is for a specific dollar amount. As you repay your outstanding balance, the amount of available credit is replenished - meaning you can borrow against it again and again. With this type of loan, you only pay interest on the amount you use. By using your FNB Savings Account, Certificate of Deposit, Investment Account or Life Insurance Policy as collateral for the loan, we can generally offer higher limits and a lower rate than other forms of borrowing.2
The time period which you are allowed to borrow is call the "draw period" and is typically 7 years. The repayment period begins at the end of the draw period. Monthly payments during the draw period are interest only but become principal and interest during the repayment period.
Our objective is to make the borrowing process simple and straightforward. To apply for an Interest Only Unsecured Installment Loan, you will want to have the following information available for your visit with a Private Banker.
While you won't need this for your initial visit to start the application process, as we evaluate your application, we may ask you for additional pieces of information. You may be asked:
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