Personal Unsecured Lines of Credit
A line of credit that lets you withdraw as much cash as you need at any point in time.
At First Horizon Bank, our expert team offers an open line of credit that gives you peace of mind when accessing your funds. Our unsecured personal line of credit aims to give you peace of mind, regardless of your financial situation. Explore your options that vary depending on your expenses, and borrow with us for a convenient solution that works for your future.
What's an unsecured personal line of credit?
An unsecured personal line of credit is an open-ended loan that a borrower can access at any time.
Loan Amount
- Minimum: $15,000
Terms and Repayment
- Draw Period: 24 months
- Repayment Period: 60 months
- Line of Credit Repayment:
- Draw Period: monthly interest only or $50, whichever is greater during the draw period
- Repayment Period: principal and interest based on a variable rate
- Education and Overdraft Protection purpose available
Asset Requirements
- $15,000 - $24,999 line: 6 months in asset reserves of the qualifying payment
- $25,000 - $50,000 line: 12 months in asset reserves of the qualifying payment
- > $50,000 line: 1x loan amount in asset reserves
Asset reserves, such as checking accounts, savings accounts, certificates of deposit, retirement accounts, IRAs and stocks may be with financial institutions other than First Horizon.
Fees
- Fees may apply
