1.99% Equity Credit Line Special
BancorpSouth is currently offering a special on new Equity Lines of Credit with an introductory rate of 1.99% APR for the first three billing cycles. Plus, no closing costs!
If you have ever thought about getting an equity credit line, now is a great time. An Equity Credit Line can help with many needs such as:
- Renovating your home
- Purchasing a boat or car
- Consolidating debt
- Paying for school
- Family Vacation
- And much more!
An Equity Credit Line gives you quick access to your funds as you need them, so you use only what you need. Plus, interest may be tax deductible.
Hurry and call a BancorpSouth representative now to learn more as this offer expires June 30, 2012.
Visit your local BancorpSouth branch or call our InfoLine at 1-888-797-7711.
Promotion Disclosure:
For the fixed introductory 1.99% annual percentage rate (APR) with no closing costs, the credit line must be a new credit line with a credit limit between $10,000 and $250,000, you must make a draw of at least $5,000 at closing, and the total of all liens against your Home, including the credit line, must not exceed 80% of the value of your Home. Your Home must be insured (including flood insurance, where required). Initial 1.99% APR is good for the first three billing cycles after closing, and thereafter the APR, including the APR on any existing balance, will convert to the applicable variable “go-to” APR. The number of days in your billing cycle may vary based on your account opening date.
The variable go-to APR is the Prime Rate plus a margin. The amount of the margin will depend upon certain factors, including your credit history, your ability to repay, and the amount of equity available in your Home. The amount of the margin will be determined after your credit line application is approved. The go-to APR will be reduced by 0.50% as long as your credit line payment is automatically debited from your BancorpSouth checking account. However, the go-to APR will never be less than 4.25%, no matter how low the Prime Rate is, and regardless of whether your credit line payment is automatically debited from your BancorpSouth checking account.
"Prime Rate" refers to the Prime Rate published in the "Money Rates" section of the Wall Street Journal on the 25th of the month, effective the first day of the next billing cycle. Prime Rate is merely a reference rate. As of 4/01/2012 the Prime Rate was 3.25%.
“Home” refers to your primary residence or second home that serves as collateral for your credit line.
Interest only Payment Example: For a principal balance of $10,000 under the Introductory APR of 1.99%, payments would be $16.36 for three billing cycles; thereafter each billing cycle payment would INCREASE to $34.93 (assuming an APR of 4.25%) after the third billing cycle; actual APR will vary based upon your margin and changes in the Prime Rate). Paying interest only will increase the total amount required to pay your credit line in full.
Offer subject to credit approval. This is not a commitment to lend. Not available in all states. Subject to the terms and conditions of BancorpSouth Equity Credit Line Agreement and Disclosure. Consult your tax adviser about the deductibility of interest. Discuss the various payment options with us. Offer good through June 30, 2012, and is subject to being changed or cancelled at any time. Equal Housing Lender. Member, FDIC. Not available in TX or FL.
Insurance and Investment products are:
Not a Deposit Ð No Bank Guarantee Ð Not insured by FDIC or other Government Agency
Not a Condition of any Bank Loan, Product or Service
Not a Deposit Ð No Bank Guarantee Ð Not insured by FDIC or other Government Agency
Not a Condition of any Bank Loan, Product or Service
