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Regions Savings Secured Line of Credit
A revolving line of credit secured by a Regions savings or money market account.
A revolving line of credit that requires no collateral and has a variable interest rate.
For You If…
Regions Savings Secured Line of Credit
You need a line of credit and want to secure it with a Regions savings or money market account. Learn more
Preferred Line of Credit
You need a line of credit that requires no collateral, prefer a variable interest rate and have a large home improvement or purchase to make. Learn more
Minimum Line Amount
Regions Savings Secured Line of Credit
$250
Preferred Line of Credit
$500
Maximum Line Amount
Regions Savings Secured Line of Credit
Up to 100% of your available balance in your collateral account, but not to exceed $100,000.
Preferred Line of Credit
$50,000
Collateral Requirements
Regions Savings Secured Line of Credit
Regions savings account or money market account. The pledged collateral amount will not be available for withdrawal during the life of the line of credit. Your savings or money market account will continue to earn interest. Borrower must be the owner of the collateral.
Preferred Line of Credit
None
Access to Funds
Regions Savings Secured Line of Credit
Online, Phone, Branch or Access Checks
Preferred Line of Credit
Online, Phone, Branch or Access Checks
Repayment Frequency & Amount
Regions Savings Secured Line of Credit
A monthly repayment of principal and interest. 5% of your outstanding balance or $10, whichever is greater.
Preferred Line of Credit
A monthly repayment of principal and interest. 3% of your outstanding balance or $50, whichever is greater.
Rate Discounts Available
Regions Savings Secured Line of Credit
Rate discounts are available for line amounts $5,000 or greater, if you elect to have your monthly payments automatically debited from your Regions checking account through our Automatic Payment Option. The amount of the discount varies based on your type of relationship with Regions, ranging from 0.25% up to 0.50%.
Preferred Line of Credit
Rate discounts are available for line amounts $5,000 or greater, if you elect to have your monthly payments automatically debited from your Regions checking account through our Automatic Payment Option. The amount of the discount varies based on your type of relationship with Regions, ranging from 0.25% up to 0.50%.
Automatic Payment Option
Regions Savings Secured Line of Credit
Allows you peace of mind that your payments will be automatically debited from your checking account each month. If your checking account is a Regions checking account, you may qualify for a rate discount.
Preferred Line of Credit
Allows you peace of mind that your payments will be automatically debited from your checking account each month. If your checking account is a Regions checking account, you may qualify for a rate discount.
Fees
Regions Savings Secured Line of Credit
Annual Fee: $50
Over Limit Fee of: $29
Late Fee of: $35
Preferred Line of Credit
Annual Fee: $50
Over Limit Fee of: $29
Late Fee of: $35
Annual Percentage Rate (APR)
Regions Savings Secured Line of Credit
Variable APR based on The Wall Street Journal prime rate, plus a margin. The margin is based on the amount of the approved line amount. See recent rates.
Preferred Line of Credit
Variable APR based on The Wall Street Journal prime rate, plus a margin. The margin is based on the amount of the approved line amount. See recent rates.
Loan Closing Options
Regions Savings Secured Line of Credit
Branch Only
Preferred Line of Credit
Branch Only
Features
Regions Savings Secured Line of Credit
- Secured with a Regions savings or money market account
- Competitive low interest rates
- Borrow as much as you need up to your credit limit
- Use as overdraft protection on your Regions checking accounts
Preferred Line of Credit
- Variable APR
- No collateral required
- Borrow as much as you need up to your credit limit
- Use as overdraft protection on your Regions checking accounts
Regions Savings Secured Line of Credit
A revolving line of credit secured by a Regions savings or money market account.
A revolving line of credit that requires no collateral and has a variable interest rate.