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Personal Line of Credit

Personal Line Of Credit

Get Access to Funds When You Need It With AccessPlus...

TheBANK of Edwardsville is making it easier than ever for customers to get the funds they need, when they need it, with its new AccessPlus line of credit.

AccessPlus is a variable rate personal line of credit that can be either a secured or unsecured line. And since it’s a convenient line of credit, you can use it however you choose. It’s convenient for purchases, emergencies or unexpected expenses. When the need arises, simply write a check or make an online transfer in any amount up to your predetermined credit limit and an advance will be made in the exact amount of your check or transfer.

There are no restrictions on how quickly you can use your AccessPlus line – the money will be available when you need it – and there is no penalty for early repayment. What’s more, interest rates on an AccessPlus line of credit may be far below what you pay on a charge account or credit card. AccessPlus credit lines vary. Lines begin at $3,000, but if you qualify, higher amounts are available. It can be a great alternative to using credit cards. Interest is only charged when you use your line of credit and stops when you repay it.

Whenever you borrow against your AccessPlus line, you will need to make a monthly payment. Your minimum payment will be the amount of interest accrued on your outstanding balance each month – or $15 – whichever is greater. It should be noted that since your minimum payment may not reduce your principal balance, if you terminate your line of credit, the accrued interest to date, the full principal balance and any late fees may be owed.

To help you keep track of your AccessPlus account, you will receive a monthly statement detailing any prior month’s activity. The statement will indicate the amount you borrow, your available credit line, minimum monthly payment and the date the payment is due.

To apply for a line of credit, visit any of TheBANK’s convenient banking centers or call the Customer Service Center at 618-656-0098.