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Líneas de crédito personales

Like a credit card, only better.

 

Access Funds When You Need Them

Similar to a credit card, a personal line of credit offers the convenience of ongoing access to credit. A VeraBank line of credit option offers you the ability to use a line you can pay down and use again when you need it most. You can repeatedly borrow money and pay it back up to specified limits making it a highly flexible financing solution.

Apply for a personal line of credit

Three Benefits of a Personal Line of Credit

  • Conveniently borrow the funds you need. With a personal line of credit, you borrow only the amount you need and interest only accrues on the funds you borrow.
  • Flexible access to funds. Have constant and easy access to funds.
  • Borrow at a competitive interest rate. On average, the Annual Percentage Rate (APR) is lower with a line of credit than with a credit card. Depending on the terms of your credit line, you can have either a fixed interest rate or a variable interest rate.

Line of Credit Uses

Flexible, ongoing financing can make personal lines of credit an appealing lending option. A line of credit could be the ideal solution if you have long-term projects, like home improvements, on your to-do list. It can also help cover temporary cash flow issues, like emergency medical expenses or a vehicle repair bill.

 

Collateral

With a personal line of credit from VeraBank, you are not required to provide collateral. Though, collateral assets, such as a vehicle you own, could potentially lower your interest rate. Connect with a VeraBank personal banker to explore your options and find the best solution for you.

 

Why Choose a VeraBank Line of Credit?

When you choose VeraBank for your personal line of credit, you're partnering with a community bank that genuinely has your best interests in mind. With flexible terms, competitive rates, and a local team of helpful bankers, you'll have access to the financing and support you need to make your next move.

Would you like more information about lines of credit or our other loan products and services? Connect with a VeraBank personal banker or visit any location!

Contact Us Find a Branch

 

Personal Lines of Credit FAQ

You have honest questions about VeraBank’s Personal Lines of Credit. Aquí están nuestras respuestas genuinas.

What do I need to apply for a personal line of credit?

Similar to applying for a personal loan or other types of financing, you'll need to demonstrate your creditworthiness. Lenders will want to see that you have a sound credit score, history of regular on-time payments, and a strong debt-to-income ratio.

Typically, you’ll need to have personal information available, such as your:

  • Current Address
  • Contact Information
  • Fecha de nacimiento
  • Número de seguro social

Plus, you’ll need employment and income details, such as:

  • Employer information
  • Proof of income (e.g., pay stubs and/or tax returns)

Your lender may require additional information. Talk to a VeraBank personal banker for specifics!

Contáctenos

How do I apply for a personal line of credit?

If you’re already a VeraBank customer, you can apply online by signing into your Online Banking account and using this link. If you don’t have a VeraBank account, you can make an appointment with a personal banker at any VeraBank branch.

 

What can I use a personal line of credit for?

Personal lines of credit typically are very flexible. Here are some common uses for a personal line of credit:

  • Home Improvement Projects
  • Medical Expenses
  • College or Education Expenses
  • Emergency Expenses (e.g., medical bills, vehicle repairs)
  • Consolidación de deuda
  • Vacation and Travel
  • Business Expenses
  • Weddings or Significant Life Events
  • General Cash Flow

How does a personal line of credit differ from a home equity line of credit (HELOC)?

While both products are revolving lines of credit, personal lines typically are unsecured, while a home equity line of credit (HELOC) is secured by pledging your home as collateral. For that reason, HELOCs generally offer lower interest rates compared to unsecured personal lines of credit.

 

What is revolving credit?

Revolving credit is a type of credit where you can borrow, pay off, and borrow again up to a predefined amount of money (credit limit). At regular intervals (usually monthly), you'll need to pay back at least a minimum amount. If you don't pay off the balance completely, the remaining unpaid amount will carry over to the next billing cycle and begin accruing interest. Some common examples of revolving credit include credit cards, HELOCs, and other lines of credit.

Would you like to learn more about using credit? Visit Banzai, an online financial literacy platform VeraBank has partnered with, for further information.

Explore Banzai

 

 

How does a personal line of credit work?

As the borrower, you can access your line of credit during a set amount of time, also known as a draw period. During this time, you can borrow funds as needed, up to your credit limit. You must make at least the minimum monthly payments to avoid fees and keep your credit line open.

 

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