Personal Banking > Personal Loans > Personal Installment Loans
Personal Installment Loans
FREQUENTLY ASKED QUESTIONS
< back
General
Application Process
What is the difference between a personal installment loan
and a personal line of credit?
A personal installment loan is ideal when you know how much money you need
upfront and you don’t anticipate needing additional financing in the
near future. With a personal installment loan, you receive the entire loan
amount upfront.
A personal line of credit is ideal when you are not sure how much you need
or when you will need it. With a personal line of credit, you borrow only
the funds you need at the time you need them without having to reapply during
the term of the line of credit.
Back
How much can I borrow?
Your loan amount is determined based on your income and ability to repay.
The minimum loan amount is $1,000.
Back
Do I have to pledge any collateral?
Personal installment loans may be secured or unsecured.
Back
What are the repayment terms?
You will make monthly principal and interest payments. The minimum term
available is 12 months and the maximum term available is 36 months for unsecured
loans. The minimum term available is 3 months and the maximum term available
is 60 months for secured loans.
Back
Is there a prepayment or early closure fee?
No.
Back
How can I apply for a loan?
You may apply on-line, by phone, or in person.
On-Line: Our secure on-line application is available 24 hours a day, 7 days a week.
By Phone: To apply by phone, call us at 1-800-995-5626.
Monday – Thursday 8:00 a.m. – 7:00 p.m.
Friday 8:00 a.m. – 6:00 p.m.
Saturday 10:00 a.m. – 3:00 p.m.
All times are Mountain Time zone.
In Person: We have over 75 statewide locations in 52 communities. Find the
branch closest to you. Click Here.
Back
How long does the application process
usually take?
Whether you are applying on-line, over the telephone, or in the branch the application process is very easy and quick. Depending on the type of loan and whether you have a co-applicant, the application process can take between 10 to 15 minutes.
Back
How quickly can I get approved?
On-Line: Usually, you will have an answer within one business day upon submission of your application, during our stated business hours. This will be subject to verification of your application information and other loan conditions or stipulations.
By Phone: Generally, you will have an answer while you are on the phone, subject to verification of the information you provided and other loan conditions or stipulations.
In Person: Usually, you will have an answer within one business day upon receipt of a completed application during normal business hours, subject to verification of your application information and other loan conditions or stipulations.
Back
What information do I need to have
available to apply?
Understanding the application process prepares you to make better decisions
and will make the process easier. Click on the loan type below for a
checklist to assist you in the application process. *Some pages in our site are in "PDF" format and require Adobe Acrobat Reader 8.0 or higher to view properly. Click here to download and install Acrobat Reader.
Back
Are there any fees or costs
to apply?
There are no fees or costs to apply.
Back
Are there any fees or costs associated
with my loan?
Generally none. We do not charge any loan origination fees, points, or closing
costs.
Back
How quickly can I close my loan?
The average time for closing a loan varies by loan type. For non-real estate
loans, you can usually close within 3 business days after all required information
is obtained by the bank. For real estate loans, closing times will vary based
on the type of appraisal required, but generally you can expect to close within
20 to 25 business days.
Back
Where do I go to close my loan?
You may close your loan at the branch of your choice.
Back
What do you do with my information?
Is it secure?
We put a high priority on safeguarding your information. Please refer to
our Privacy Statement for details.
Back
|
