Plan your future with a consumer loan from Byron Bank and make your dreams come true. Whether it's a car, a once in a lifetime trip, or a college education for your son or daughter, we can help you find the loan that is right for you. Everyone likes the feeling of finding the perfect car, boat, snowmobile or even RV, but no one likes the process of financing that perfect toy. The application process and waiting period can take the fun out of one of the most exciting purchases you'll ever make, but you can make the whole process a little easier with Byron Bank. We'll offer you a competitive rate, show you a wide range of financing terms and help design a payment plan to fit your budget. Once you apply, we'll give you an answer quickly.

Reach your goals with a loan designed for your budget. If you've ever taken out a loan, you know that interest rates can vary. At Byron Bank, we will help you structure a loan with an interest rate and repayment schedule that meets your needs.

Many of our loans offer the choice of a fixed or variable rate. With a fixed rate, both your loan's monthly payment and payoff date are locked in. It's a sure way to plan your budget. Variable rate loans let you take advantage of changing interest rates.

If you've built equity in your home, consider how a home equity loan from Byron Bank can work for you. Because the home is likely to be a consumer's largest asset, many home owners use their credit lines only for major items such as home improvements or medical bills, not for day-to-day expenses. With a home equity line, you will be approved for a specific amount of credit, the maximum amount you can borrow at any one time while you have the loan. Byron Bank sets the credit limit on a home equity line by taking a percentage of the appraised value of the home and subtracting the balance owed on the existing mortgage.

All of your loans can be paid automatically each month from your checking or savings account. Our Direct Debit Loan Payment program provides loan paying convenience that will save you time and money. We give you the ability to eliminate writing a check to pay your monthly loan payment(s). The Direct Debit Loan Payment plan is offered by Byron Bank free of charge.

Good rates are one thing to consider when looking for a loan, but there are many others. At Byron Bank, we understand that each loan is different, as sure as each person is different. You need someone who can sit down with you and explore the various loan options so they suit the purpose you have in mind and your own ability to pay. We have 75 years of experience in making loans for just about every purpose you can imagine, so we are well suited to suggest the loan that's right for you. Just ask!

Byron Bank offers competitive interest rates on fixed and variable rate loans. With a loan program structured to meet your specific needs, Byron Bank will finance purchases such as automobiles, boats, recreational vehicles, travel trailers, and mobile homes. A Byron Bank lending professional will assist you as you make the purchases you've been dreaming about.

Byron Bank's Direct Debit Loan Program provides a worry free way to pay your monthly loan payment. With this program, each month your payment will be automatically deducted from your checking or savings account. By signing up for our Direct Debit Loan Program, the interest rate on your consumer loan will be lowered by 1/4%.

Contact one of our lending officers at any branch location to discuss loan options to meet your financial needs.

Home Equity Line
Owning a home has many advantages. One advantage that may be overlooked is the ability to use the equity built up in your home for financing home improvements, a dream vacation, a new car, an education or reducing bills. In addition, home equity loans are the only consumer loans with interest that may be fully tax deductible.*

Byron Bank's Home Equity Lines of Credit are revolving lines of credit secured by a first or second real estate mortgage against the equity you have in your home.

If you already have a mortgage on your home, the equity line will not change or affect your mortgage's interest rate, payment amount or term.

*Check with your tax advisor.

Our Home Equity Lines are Tailored to You
Byron Bank currently offers four different home equity lines available to you. The interest rate for each one is different based on the prime rate plus the rate option you choose. Each option offers the key to different needs.

Minus .25% Option
You may borrow up to 80% of the value of your home.

Prime Option
You may borrow up to 80% of the value of your home.

Plus 1.00% Option
You may borrow up to 80% of the value of your home.

Plus .75% Option
You may borrow up to 85% of the value of your home.

Once you have chosen your option, we add the current prime rate to the percentage option to get the rate for your loan.

Please contact your local branch office or customer care at (800) 747-5004 for the current minimum “floor rate”.

How it Works
Home equity lines are based on your home's value less any outstanding mortgage balance. Depending on the option you choose, you may borrow 80%, or up to 85% of your home's value.

For example, if you choose the 1% option, and your home is worth $100,000, your borrowing potential is $80,000 ($100,000 x .80). If you still owed $50,000 on your mortgage, your available home equity is $30,000 (80,000 - 50,000=30,000).