Family in a car

Personal Lending

Get the money you need to make your next move

First Bank Elk River offers affordable rates on loans that can help you make home improvements, purchase a vehicle, pay medical bills or take a well-earned vacation. Tell us what you have in mind and we'll help you get financing that fits your plans.

Installment/Vehicle Loans

Whether you’re in the market for a car, pickup truck, motorcycle, or ATV, our lending team is ready to get you rolling down the road.
  • Competitive rates
  • Fixed monthly payments
  • Choice of loan lengths
  • Get pre-approved before shopping
  • Schedule convenient automatic payments through Online Banking
  • Loan secured by vehicle that you are purchasing

Personal Loans

Life presents financial challenges and exciting opportunities. Our Personal Loans can provide you with the funds needed to address either one.
Use for anything from medical bills and tax payments to family vacations and major purchases
  • Competitive, fixed rates
  • Flexible repayment periods
  • Secured and unsecured loans available
  • Schedule convenient automatic payments through Online Banking

Home Equity Products

The difference between the current market value of your home and your mortgage balance can give you equity for flexible financing. And there are several ways to turn that equity into funds that can be used for almost anything.

Home Equity Loans

  • Loan maximum depends on the equity you have in your home
  • Competitive, fixed rates
  • Pay the same amount every month
  • Often used for home improvement projects and major purchases
  • Schedule convenient automatic payments through Online Banking

Home Equity Line of Credit

  • Gain access to a pool of money that can be used any time you want for almost any reason at all
  • Credit lines are often used to pay unexpected expenses, purchase vehicles, make repairs or cover vacation costs
  • Lines of credit start at $5,000
  • Minimum cash advance is $500
  • Competitive, variable interest rates
  • Pay interest only on the credit line amount actually in use
  • Access funds through checks, Online Banking and at First Bank Elk River branches

Overdraft Protection/Ready Cash

  • A revolving line of credit linked to your First Bank Elk River checking account
  • Loan amounts from $300 to $2,500
  • No collateral required
  • If your checking balance dips below zero, credit line funds will automatically be transferred to cover for the shortfall, for a $3.00 advance fee
  • Access funds through Online Banking to avoid advance fees
  • Budget-friendly automatic monthly payment of either 5% of your outstanding balance or $25, whichever is greater
  • As you repay your credit line, funds can be reused for other purposes