Lines of Credit

Gain the added security of overdraft protection and convenience of additional funds with a Cedar Rapids Line of Credit. Money is deposited into your account at your request or whenever your checking account is overdrawn, up to your available credit limit. Contact us at 319.862.2728 to learn more.

 

Account Features

 

Annual Percentage Rate (APR) for Purchases and Cash Advances 
 
13.20% Annual Percentage Rate may vary. The rate is in effect as of June 15, 2017.
Variable Rate Information  Your rate may vary. The rate will be 8.95% spread above the base rate* of Cedar Rapids Bank & Trust, adjusted monthly. 
Grace Period for Repayment of Balance for Purchases  None
Method of Computing Balances for Purchases Average Daily Balances Including New Advances 
Processing Fee (one-time) $75.00
Transaction Fee for Cash Advances  None

 

 

Download Consumer Loan Application

Please mail completed application to: Consumer Lending, Cedar Rapids Bank & Trust, PO Box 789, Cedar Rapids, Iowa 52406-0789.
 

Note: Marital status information is not required if applicant is applying for individual, unsecured credit.

* Base Rate equals prime rate as published in The Wall Street Journal.

Cedar Rapids Line of Credit is a revolving line of credit attached to a Cedar Rapids Bank & Trust checking account. Advances in multiples of $50.00, up to the credit limit, are deposited into the checking account at the request of the borrower or whenever the checking account is overdrawn. The minimum payment is 5% of the outstanding loan balance or at least $15.00. The borrower will receive an itemization of the Cedar Rapids Line of Credit activity with the checking account statement. If the borrower does not pay at least the minimum payment by the fifteenth day after the statement date, the minimum payment will be withdrawn from the checking account. Request a Cedar Rapids Line of Credit Agreement for details.