Digital News Report – Debt consolidation loans are used to pay off outstanding credit card, student loan and other personal debt. The goal is to end up with lower interest and a smaller payment.
Regions Bank offers debt consolidation loans. Their unsecured loans have a limit up to $3,000 and the secured loans have a limit up to $250,000. Both credit limit and terms of the loan will depend on the borrower’s credit history and credit score.
The bank also offers a “Regions Preferred Line of Credit” with an unsecured limit up to $100,000.
You can use various methods to pay outstanding balances. “Access your account via convenience checks, telephone or internet banking”, the bank said in a statement.
Regions Bank offers a special program for medical students. The “Regions Residency Relocation Line of Credit” is designed for students transitioning to residency. There is a $10,000 line of credit with a variable interest rate.
Regions Bank, the nation’s 22nd largest bank, operates 2,000 branches and 2,400 ATMs in 16 states.
By: Tina Brown