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Regions Bank

in Personal Lines of Credit

Unaffiliated Visit Site

Regions Bank

Unaffiliated

in Personal Lines of Credit

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Overview

Where does Regions Bank do business?

Regions Bank is a bank based in Huntsville, AL. It was founded in 1873 and offers personal lines of credit in 15 states across the USA.

What are the APRs offered via Regions Bank?

Regions Bank offers a personal line of credit that ranges from 8.74% up to 18.74%.

Does Regions Bank charge an origination fee?

No, Regions Bank does not charge an origination fee.

An origination fee is what some lenders charge for processing, underwriting, and funding a line of credit. These fees can range from 0.5% to 5% of the line of credit amount. Whenever possible, go with lenders that don’t charge origination fees.

Does Regions Bank charge a cash advance fee?

Yes, Regions Bank charges a fee starting at $10.

Does Regions Bank charge a late fee?

Yes, Regions Bank may charge borrowers a late payment fee of up to $29, which is triggered if you're 10 days late.

Does Regions Bank charge prepayment fees?

No, Regions Bank does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the line of credit off and close the account.

How much can you borrow via Regions Bank?

Personal lines of credit start at $500 and go up to $50,000.

What do you need to qualify for a line of credit with Regions Bank?

Regions Bank doesn’t disclose its credit score minimum.

Regions Bank only considers borrowers who are employed.

Active duty servicemembers and their covered dependents are eligible to apply for a line of credit via Regions Bank. Their rates fall within the limits of The Military Lending Act.

Only U.S. citizens and permanent residents can apply for a line of credit.

To qualify, applicants may need to provide the following documentation:

  • Driver's license
  • Applicants must have an active and valid checking account
  • Proof of identity
  • Proof of citizenship or residence permit
  • Proof of income

What is the estimated funding time for a personal line of credit via Regions Bank?

Regions Bank will typically fund personal lines of credit within 7 business days of approval.

Does Regions Bank report payments to credit bureaus?

Regions Bank may report credit data to the following credit reporting agencies:

    \
  • Equifax
  • Experian
  • Transunion
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Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 15 states
  • Alabama
  • Arkansas
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Iowa
  • Kentucky
  • Louisiana
  • Mississippi
  • Missouri
  • North Carolina
  • South Carolina
  • Tennessee
  • Texas

Feature Breakdown

No Fees
No Origination Fee
 
No Prepayment Fee
 
List of Fees
Annual Fee
$50
Late Fee After (number of days)
10
Late Fee Amount
$29
Cash Advance Fee ($)
Starting at $10
Minimum Payment
$20
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Bank Account Required?
 
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Supported Income Types
  • 1099 Misc. Income
  • Cash
  • Direct Deposit (W2, SSA, SSDI)
  • Payroll Check or Prepaid Card
Joint Loan Applications Accepted
  • Co-signer
  • Individual Applications
Verification Documents Required
  • Proof of Identity
  • Proof of Income
  • Proof of Residence
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
Minimum Draw
$100
Dollar Amount
Loan Amount
$500 - $50K
    $25 $100K
Percentage
APR
8.74% - 18.74%
    6% 250%+

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