Home Equity & Consumer Loans

Home Equity Products

Home improvements and unexpected repairs are no problem with a Home Equity Loan or Home Equity Line of Credit from Bank of Pontiac. You can even use the equity in your home to purchase a car, fund a college education, take a dream vacation or pay for a wedding. The options are endless! And best of all – Home Equity is a smart way to borrow, offering tax saving benefits*.

• You borrow a set amount and make fixed monthly payments.
• The interest may be tax deductible – *consult your tax advisor for details.

Home Equity Line of Credit

• Works similar to a charge card, but offers a much lower interest rate.
• You’re pre-approved up to a specified credit limit and provided with a special set of checks.
• When you need to access your money, simply write as many checks as you wish for any amount within your credit limit.
• Payments are based on the amount you actually use. For example: If you’re approved for $50,000 and only use $15,000, your payments are based on $15,000.
• The interest may be tax deductible – *consult your tax advisor for details.

Whether you’re buying a new set of wheels, have your eye on a fancy RV or simply need cash for unexpected bills, we have a Consumer Loan that can help you achieve your goals. Consumer Loans are available in a variety of types and feature fixed monthly installments as a method of repayment:

• Personal Loans
• Automobile & Truck Loans
• Motorcycle Loans
• Recreational Vehicle & Travel Trailer Loans
• Mobile Home Loans
• Debt Consolidation Loans
  

• You become eligible for IUI benefits if you lose your job due to non-seasonal layoffs, employer termination or a lock-out.* (*Does not include strikes.)
• Your IUI benefits will take action after 30 days and the number of IUI payments will vary with your loan term.
• Your insurance premium is added to your monthly loan payment.

Credit Life Insurance

• Pays off your outstanding consumer loan balance up to the plan maximum if you should die before your loan is paid off.
• Your insurance premium is added to your monthly loan payment.

Accident & Health Insurance

• Available with Credit Life insurance.
• Makes your payments while off work due to health conditions (cannot be pre-existing conditions).
• Your benefits will take action after 14 days and the insurance premium is added to your monthly loan payment.