Getting a Regions banks personal loans is nothing special. These days everyone gets a personal loan because of different reasons. Everyone looks for personal loans that are affordable, easy and cheap. One such bank is regions bank. Regions bank offers personal loans with easy conditions
Personal loans are required when you need a lot of cash urgently. Like to pay college fee or medical expenses. Personal loans are also used when you need to buy a home or new car even when you just need a little extra cash every month,
Personal Loans Offered By Regions Bank
Regions bank offers many types of personal loan. Your lender helps you choose the one that fits your needs the best.
- Personal secured loan
- Personal unsecured loan
- Personal line of credit
Personal Secured Loan
Personal secured loan require collateral. You can borrow as minimum as $3000 and can go up as high as $500,000 depending on your collateral. The interest rates are quite low on secured loans and the payment conditions are flexible. You can ask your lender for better payment duration and interest rates.
Personal Unsecured Loans
Unsecured loans do not require any collateral. With unsecured loans you can borrow a minimum of $2000 and the maximum payment depends on your yearly income. You can borrow as high as 25% of your annual income.
Unsecured loans have competitive rates. But the overall interest is higher than that of secured loans as there is no collateral. The payment conditions are also flexible. You can get fixed interest rates
Personal Line Of Credit
You can also get a personal line of credit through regions bank. Personal line of credit offers you a fix amount of money for the month. You can borrow the amount you need and pay the borrowed amount the next payday. There are no additional charges just an annual fee and low interest rate.
The personal line of credit is best if you need a little extra cash and no bigger loan like unsecured loan.
Requirements for Regions Personal Loans
Like all banks, regions bank looks at your credit history to see if you are worth the risk. A good credit history means that you can borrow high amounts with ease on simple terms. The lower the credit, the harder it is to get your loan application approved.
However secured loans matter more on your collateral than your credit history. Credit history is checked but if you have an asset to go with your application than it gets easier.
Good credit history is important in unsecured loans. The loans are given without any collateral so the lender focuses more on credit history. Personal line of credit also requires a good credit history. If you have a stable monthly income and you want to improve your bad credit than regions bank have other deals for you.
For more information you can contact regions banks customer service or visit the local branch
- Customer service 1-800-734-4667
- Local branch https://www.regions.com/locator.rf