If you are dreaming to make some home improvement or plan a vacation, a personal unsecured loan from Commerce Bank is all you need to realize your dream. Commerce Bank Personal Loans and Lines of Credit are offered at affordable rates and you can get them for a number of purpose. You can use the loan amount to pay off your debts, renovate your home, make a major purchase, and much more.
Personal Unsecured Loans
Commerce Bank personal loans are unsecured loans and you don’t need to provide any type of collateral to get the loan. Despite being an unsecured loan, the bank offer competitive rates, flexible terms and fixed monthly payments. You are also offered with fast and easy online application of your loan and fast approval process. The minimum unsecured personal loan amount is &7,000, and the maximum amount will depend on your credit rating and your income status. Discounts in rate of up to 0.75% is available for CommerceOptionsSM checking customers. You can also get a discount of 0.25% by having your payment deducted automatically from your checking account with Commerce Bank.
Personal Unsecured Line of Credit
Unsecured personal line of credit from Commerce Bank is known as ReadyLine of Credit and it is a great way to receive funds for any type of needs. You can use a ReadyLine of Credit to purchase a car, make special purchase or improve your cash flow. Some features and benefits of this line of credit include:
- No collateral required
- No account opening, cash advance or transaction fees
- Fast access to funds in times of unexpected expenses
- A great source of reusable funds
- 99%-19.99% Annual Percentage Rate (APR), variable
As you continue making the payments on your line of credit, the amount available on your credit line also increases up to the credit limit. The bank provides convenient ways to access your funds through checks, cash advances at Commerce Bank branch, or through fund transfers to your checking account through Online Banking.
Each cash advance of $2,000 or above will be repaid in easy monthly installment payments over a 48-month period. Credit limits from $500 to $15,000 are made available by the bank and it is a convenient way to get the flexibility for future cash advances. It is important for you to know that late payment and returned payment fees may apply. The bank offers several options for making your payments. You can let the bank auto debit your payment from your Commerce account or transfer funds through Online Banking. Moreover, you can make your payment by calling the 24-hour account information line.