Fund unexpected expenses, important purchases and more with a personal loan.
| Personal line of credit | Signature loan | |
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Recommended for
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If you need ongoing flexibility to cover unexpected expenses |
If you need quick cash for a one-time use |
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How it works
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Revolving line of credit you can continually draw from, like a credit card |
One-time loan with a fixed amount |
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Access to funds
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Borrow as needed up to the credit limit |
Get the full loan amount upfront |
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Repayment
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Minimum monthly payments: 3% of outstanding balance or $25 (whichever is greater) |
Fixed payments over a set period |
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Interest
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Owed only on the amount you borrow |
Owed on the full loan amount |
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Rates
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Variable (could change over time) |
Fixed (won’t change) |
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Loan amounts
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Apply for $1,000 - $25,000 |
Apply for $1,000 - $25,000 |
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Available terms
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N/A |
Up to 48 months |
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Application fee
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$0 | $0 |
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Relationship Rewards is a free program you're automatically enrolled in when you become a member. You earn points for doing various banking activities with us — and every point can help you level up! The higher your Relationship Rewards level, the more benefits you get.
How will I know what my monthly payment will be?
For a personal line of credit, you will receive a billing statement 25 days before the due date. The minimum payment will be 3% of the current balance or $25 – whichever is greater. For a signature loan, your payment will be fixed each month, and you’ll be able to see what it is before your loan is finalized.
Am I automatically signed up for overdraft protection on my checking account?
No, your personal line of credit is not automatically linked as Overdraft Protection. If you would like to have your personal line of credit linked to your checking account as Overdraft Protection, please visit a branch or call (602) 433-7000. Learn more about Overdraft Services and the differences between Overdraft Coverage and Overdraft Protection.
Do I need to have a checking account to have a personal line of credit?
You do not need to have a checking account with Desert Financial to take out a personal line of credit.
Disclosures
1
Rates valid on {current-date}. Actual Annual Percentage Rate (APR) dependent upon borrower(s) credit qualifications. Additional rate discounts may apply. Visit our rates page for additional information and details.
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