Personal loans are loans made to individuals for personal reasons, some of which include purchasing an automobile or paying off other debts. These loans are not made to businesses or corporations and are not intended to be used for commercial purposes. Personal loans fall into two general categories: Secured and Unsecured.

Secured Loans

Secured loans are loans with collateral. The collateral is usually a personal residence, an automobile, motorcycle, recreational vehicle or a deposit account (share loan).

  • Automobile and Recreational Vehicle Loans
    Auto and Recreational vehicle loans are secured by the car, motorcycle, ATV, or boat being purchased with the loan proceeds. The title to the vehicle is surrendered to the bank until the loan is paid in full. Used vehicle rates and terms are determined by the year of the vehicle.Current Rates
  • Deposit Secured Loans
    Deposit Loans are secured with the borrower’s deposits. The deposit must be a Certificate of Deposit held by our bank, and the term of the loan cannot exceed the term of the Certificate. The rate charged is a percentage exceeding the rate of the certificate. The Certificate is surrendered to the bank until the loan is repaid.


Unsecured Loans

Unsecured loans are loans made with no collateral. The only guarantee of repayment is the borrower’s promise, which usually makes the interest rate higher than the rate charged on Secured Loans. The two types of Unsecured Loans are Fixed Term Loans and Lines of Credit.

  • Fixed Term Loan
    InFirst Bank makes Unsecured Loans for various amounts and terms. Contact us for rates and terms.
  • Line of Credit Loans
    Line of Credit loans are for a maximum loan amount and the borrower draws upon the loan as needed by the use of checks supplied to the borrower. The borrower is billed monthly based upon the amount the borrower has used. Rates are variable and are based on an economic index.