Personal Lines of Credit
A Regions line of credit gives you options. Use the funds to cover expenses as you need them. You can even link your line to a Regions checking account as overdraft protection.
Find the line of credit that fits your needs
no collateral with a variable interest rate
Preferred Line of Credit
A revolving line of credit that requires no collateral and has a variable interest rate.
The maximum line amount for existing customers[1] is $50k.
Use a regions account balance as collateral
Savings Secured Line of Credit
Secured by a Regions savings or money market account. A great way to improve less-than-perfect credit when used responsibly.
Max amount up to 100% of available balance in the Regions account used as collateral.
Why the Preferred Line of Credit is the most popular
Borrow as much or as little as you need up to your credit limit. Requires no collateral and can be used for almost anything — use the money for home improvement, car repairs, expenses or paying-off higher-interest debt.
The Preferred Line of Credit gives you flexibility
Flexible funds
Whether you need a small or large line of credit, Regions has the options you're looking for.
No collateral
Borrow as much as you need up to your credit limit.
Use the funds however you like
Funds for home improvement, car repairs, paying off higher-interest debt and more.
Up to $50k line
Current customers[1] can apply online, in a branch or by phone.
Savings-secured credit line can be a bridge to creditworthiness
If you need to build or rebuild your credit profile, a line of credit secured by a savings account can offer you a way to:
- Build credit by borrowing and paying back relatively small amounts on a regular basis.
- Get easy access to funds when you need them.
- Earn interest on the savings account that secures the line of credit.
Learn more about how to build credit with a savings-secured line of credit
Personal Line of Credit FAQ
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A personal line of credit:
- Variable interest rates
- Can be secured (requiring collateral) or unsecured (requiring no collateral)
- Begins accruing interest once you access the funds
- Typically have higher interest rates than personal loans
With a personal line, you don’t need to know upfront how much money you want to borrow. A personal line of credit is more flexible. Once you’re approved for the funds, you can use some of the funds, pay down your balance and access your available credit line again and again. For instance, if you’re approved for a $20,000 unsecured line of credit, you could use $10k immediately to upgrade your screened in porch, and in a year, decide to use the other $10k to repaint the inside of your home. Unlike personal loans, personal lines of credit offer variable interest rates that can change, and you only start paying interest on a line of credit once you access any portion of the funds available to you.
While personal lines of credit typically have higher interest rates than personal loans, secured lines of credit tend to have lower interest rates than unsecured lines of credit.
Like personal loans, personal lines of credit can be either secured (collateral required) or unsecured (no collateral required).
Personal loan
- Fixed interest rates
- Fixed repayment terms
- Can be secured (requiring collateral) or unsecured (requiring no collateral)
- Accrues interest as soon as the loan is deposited
- Typically offers lower interest rates than personal lines of credit
With a personal loan, you will need to know upfront how much money you want to borrow. When you apply for a personal loan, you receive a fixed amount of money and repay it at a fixed interest rate over a fixed period, often referred to as a “term”. Terms generally range from 36 – 60 months. Personal loans typically have a lower interest rate than personal lines of credit, and interest begins accruing at the time you accept the loan. Because a personal loan offers fixed interest rates, it’s commonly used to consolidate high-interest debt. You can use our debt repayment calculator to compare what repayment options may look like.
Personal loans can be either secured (collateral required) or unsecured (no collateral required). Because secured loans require collateral, they can have lower interest rates.
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In order to apply for a personal loan or line of credit with Regions, you may need specific documents and information on hand.
Here are some of the documents and info you may need to have ready:
- Contact information
- Social Security Number
- Date of birth
- Employer details
- Primary home address
- Loan amount
- Purpose of loan
- Income documentations
Current Regions customers may need their ATM/Debit card number or existing Online Banking login credentials.
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Current Regions customers can apply online, by phone or in a branch
Current customers can apply online, in a branch or by phone for a Regions Preferred Line of Credit or Savings Secured Line of Credit. Apply by phone at 1-888-462-7627 Monday – Friday from 6 am to 7 pm, Saturday 8 am to 2 pm. To be eligible for our unsecured loans, lines of credit or our recreational vehicle loan, you must have a Regions deposit relationship (checking, savings, MM or CD) on which you are an owner that has been open for at least six months. You may apply over the phone, or at your local branch.
Not sure a line of credit is what you need?
If you're looking for funds not secured by collateral and prefer the stability of a fixed interest rate, consider our Unsecured Loan.
Get helpful information and guidance about personal lines of credit
Learn more about when to use lines of credit, differences between loans and lines of credit, how to prepare for your application and more.
