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Personal Loans

We Have A Lending Product That Is Right For You.

Whether you’re looking forward to a vacation, a new car, or some other special purchase, we strive to make borrowing quick and easy for you.

Apply for a loan online today.

 

 

 

 

 

                               


 

Personal Lines of Credit

Use our Financial Calculators to help determine how large a line of credit is right for you.

Easy Access Loan

  • Personal revolving line of credit
  • Easy one-time application designed to save you time and hassle
  • Flexible credit to use for whatever you choose, whenever you need it
  • You decide how you want to access the funds
  • $25.00 Origination fee
  • $25.00 Annual fee
Somerset Trust’s Easy Access Loans are unsecured revolving lines of credit.
  • Easy Access Loan in amounts from $1000 to $10,000

Use these loans for whatever purpose you choose with multiple options to access your funds.

Option 1 – Overdraft Protection
We can link your Easy Access Loan Account with your personal checking account. Should you overdraw your checking account, money will be automatically transferred to your checking account to cover the overdraft.
 
Option 2 – Separate Checks
If you prefer to keep your Easy Access Loan completely separate from your personal checking account, we offer an account with separate checks which look just like your personal checks. They can be written in any amount up to your credit limit and are drawn on your Easy Access Loan Account.
 
Option 3 – STC OnLine Banking
You can also access your account to make electronic transfers and payments through STC OnLine Banking.
 

Personal Loan Options

  Term Rate Payment 
Installment Loans
To borrow exactly what you need today, consider an Installment Loan.
 
Personal Loan Example: A payment of $103.79 is based on a $5,000 fixed rate closed end personal loan with 60 monthly payments and Annual Percentage Rate of 9.214% as of 02/18/14. The rate is based on a credit review. Your rate may be higher based on your credit score. Offer subject to change without notice.
Up to 72 months
Fixed, credit score affects rate
Fixed monthly payment
Minimum loan amount is $1,000

CD/Savings Secured Installment Loans

Use your existing Somerset Trust CD or Savings to borrow at a very low rate.
 
CD/Savings Secured Example: A payment of $94.01 is based on a $5,000 variable rate loan secured by a Certificate of Deposit with 60 monthly payments and Annual Percentage Rate of 5.603% as of 02/18/14.   Example assumes Certificate of Deposit earns Annual Percentage Yield of 1.35%. Offer subject to change without notice.
You decide the term
Variable, 3.5% above the CD or Savings rate
Fixed monthly payment
No origination fee

Vehicle & Recreational Vehicle Loans

For new or used automobiles, truck, motorcycles, ATVs, or snowmobiles.
 
New Vehicle Secured Example: A payment of $191.01 is based on a $10,000 fixed rate with 60 monthly payments and Annual Percentage Rate of 5.603% as of 02/18/14. The rate is based on a credit review. Your rate may be higher based on your credit score. Offer subject to change without notice.
1 – 72 months, depending on age of vehicle
Fixed, credit score and vehicle age affect rate
Fixed monthly payment
Up to 100% financing on new purchases

Mobile Home Loans

For new or used mobile home, with or without land.
 
New Mobile Home Loan Example: A payment of $194.01 is based on a $15,000 fixed rate with 120 monthly payments and Annual Percentage Rate of 9.646% as of 02/18/14. The rate is based on a credit review. Your rate may be higher based on your credit score. Offer subject to change without notice.
1 – 180 months, depending on age of home
Fixed, credit score and home age affect rate
Fixed monthly payment
Appraisal required (In-house)

Land Loans

For developed and undeveloped land.
Up to 10 years
Fixed
Fixed monthly payment
Appraisal required
Loan to Value Ratio for Developed Land:  up to 75%
Loan to Value Ratio for Undeveloped Land:  up to 65%
  
Undeveloped Land Loan Example: A payment of $185.90 is based on a$15,000 fixed rate with 120 monthly payments and Annual Percentage Rate of 8.643% as of 02/18/2014. The rate is based on a credit review. Your rate may be higher based on your credit score. Offer subject to change without notice.