First National Bank of Elk River offers two types of personal credit lines:

Ready Cash
A flexible revolving line of credit linked directly to your First National Bank of Elk River checking account. Ready Cash features:

• Line amounts from $500 to $5,000
• No collateral required
• Pay interest only on the amount you use
• If your account balance dips below zero, your line of credit will automatically transfer funds to cover the negative balance (in $200 increments up to your credit limit)
• Economical automatic monthly payment of either 5% of your outstanding balance or $25.00, whichever is greater
• No penalties for early payoff
• Reuse your revolving line; no need to apply for additional credit

Home Equity Line of Credit
Leverage the equity in your home to pay off high interest debt, purchase a new vehicle, or fix up the house. Home Equity Line features:

• Minimum - $5,000
• No annual fee
• Potential tax deductibility*
• Competitive interest rates
• Variable interest rates
• Flexible interest-only monthly payment**
• No penalties for early payoff
• Check-writing capabilities
• Minimum advance of $500

Contact us with any questions you may have or start an online application today.

* Interest on home equity lines of credit may be deductible. Consult your tax advisor to be certain.

** A balloon payment may result.