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Personal Loans

Auto Loans, Home Equity Loans and Other Personal Financing

Life’s big moments – a new car, wedding or family vacation – are often accompanied by a big expense. When you are in need of additional financing you want to be able to turn to someone you trust. With local lenders and all personal loan decisions made locally, F&M Bank is your solution when you need to pay for life’s big (or surprise) expenses.

Auto Loans from F&M Bank

You rely on your vehicle a lot. It gets you to and from work, carries your kids or grandkids to practices or games and transports your family on vacations. When it’s time for a newer vehicle, an auto loan from F&M Bank helps you get the right vehicle without the hassle.

Auto loans from F&M Bank come in two varieties:

  • New and used auto loans
    • Fixed interest rate repaid in simple monthly installments.
    • Loan decisions are made locally and on the same day in many cases.
    • Other benefits include flexible terms to fit your budget and a quarter-point rate discount if you set up automatic loan payments from your F&M Bank account.
  • Indirect (Dealer) auto loans- almost every local auto dealership has an agreement with F&M Bank to take your application and make an “indirect” loan on our behalf. Just ask that your auto loan be processed through F&M Bank. We will contact you after your purchase to work out the repayment plan that fits your budget.

Home Equity Loans and Home Equity Lines of Credit

Your home has superpowers. However, instead of being able to fly or X-ray vision, your home’s equity can be used to help you get additional cash in the form of a home equity loan or a home equity line of credit (HELOC).

  • Home Equity Loans
    • A fixed rate loan in the form of a lump sum to use on nearly anything, such as weddings, home improvements or a new vehicle.
    • The interest rate of a home equity loan is usually less than a personal loan, and interest payments may be tax deductible (consult your tax advisor for more information).
  • Home Equity Line of Credit- borrow money when you need it from line of credit with a pre-established limit. You only pay for what you use, with interest payments due monthly and principal payments accepted when you are able to make them.

Special PURPOSE Loans

F&M Bank offers fixed rate loans for many other uses like boats, RVs or motorcycles. They come with competitive rates, monthly installments for easy budgeting and a quarter-point rate discount if you set up automatic payments from your F&M Bank account.

CD Loans are also available from F&M Bank. In this type of loan you are borrowing against an F&M-issued CD. It is a very low-cost option that can be repaid in the form of monthly installments or in a single payment when your CD matures. CD loans also keep your investment program intact.

Apply for Your Personal Loan Today at F&M Bank

To learn more about any of our personal loan options or apply, stop by any F&M Bank location in Galesburg or Peoria today.