Personal Lending

Whether you are looking to make home improvements, take a dream vacation, purchase a vehicle or have another special need for some extra funds, we have you covered with a variety of loan options. The PrivateBank’s loan products offer competitive rates and repayment plans to suit your needs.
  • Home Equity Loans and Lines of Credit

    A Home Equity Loan or Line of Credit from The PrivateBank is an affordable borrowing option for many homeowners. Using the available equity in your home, you can finance some of life’s larger expenses such as a major home renovation, college tuition or vehicle purchase. Interest rates on home equity loans and lines are typically lower than credit cards and the interest you pay may be tax deductible. Speak with your tax advisor to discuss specific tax considerations.

    Home Equity Loan

    A home equity loan is the perfect solution if you need to finance a large, one-time expense such as a debt consolidation, home improvement project, vehicle purchase or unplanned expense. With a home equity loan, you have the security of a fixed monthly payment with a fixed interest rate. Funds are distributed up front in one lump sum.

    • Fixed interest rate at time of loan
    • Fixed monthly principal and interest payments
    • Special interest rate discount available with loan payments auto-debited from your checking account with The PrivateBank when you enroll at loan closing
    • No application fee

    Home Equity Line of Credit

    A home equity line of credit is a form of revolving credit in which your home serves as collateral. Many homeowners use their line to fund a child’s education, finance a wedding, purchase luxury items or pay medical bills. You can borrow up to your approved credit limit withdrawing funds as needed.

    • Use funds when you need them
    • Special interest rate discount available with loan payments auto-debited from your checking account with The PrivateBank when you enroll at loan closing
  • Auto Loans

    Our auto loans give you the option to purchase or refinance your next new or used vehicle or motorcycle. We offer attractive financing, flexible terms and competitive rates to make your purchase easier.

    • Special interest rate discount available with loan payments auto-debited from your checking account with The PrivateBank when you enroll at loan closing
    • Competitive interest rates
    • Multiple terms available
    • Conveniently make payments through Private NetBanking
  • CD Secured

    Our Certificate of Deposit (CD) secured loans give you an option to borrow on what is already yours. If you need the funds but don’t want to pay an early withdrawal penalty, you can borrow against your CD. We offer flexible term loans that coincide with your CD maturity. With the ability to borrow up to the total CD amount, the CD secured loan will help you access your cash.

    • Your funds are held in an interest earning CD for the life of the loan
    • Flexible terms to coincide with all of our CDs
    • Easy, simple payment plans
  • Overdraft Protection Line of Credit

    Our personal loan account (PLA) is an overdraft protection line of credit that is tied to your checking account. The line of credit automatically transfers funds to your checking account to cover any items that may cause overdrafts, up to the specified limit. You have access to your PLA simply by using your checking account. When you make a deposit to your checking account, the amount will be used to automatically pay back the PLA up to the amount of your deposit. It is a simple, easy to use account that helps to manage your finances without the worry of overdraft fees.

  • SMART Personal Loan

    Sometimes a little extra cash is all you need to help make a difference. Whether you want to consolidate debt, pay off bills, help buy a car or many other uses, the SMART Personal Loan may be the answer.

    SMART Personal Loans provide you with up to $2,500 for your quick cash needs.

    • Easy to apply
    • Loan terms up to two years at fixed-rate of 9.95% APR1
    • Payment example: A $2,500 loan at 9.95% APR for 24 months will have a monthly payment of $115.30
  • SMART Home Improvement Loan

    Are you looking for cash to:

    • Fix your roof
    • Upgrade your heating or cooling
    • Finish your basement
    • Replace your driveway
    • Add a patio or deck

    The SMART Home Improvement Loan can help with a variety of home repairs and improvements by providing homeowners with up to $5,000 for home repairs or home improvement.

    • Easy to apply
    • Loan terms up to three years at fixed-rate of 9.95% APR2
    • Payment example: A $5,000 loan at 9.95% APR for 36 months will have a monthly payment of $161.22
    • Special interest rate discount available with loan payments auto-debited from your checking account with The PrivateBank when you enroll at loan closing
  • SMART Step Loan

    If you have less than perfect credit – or no established credit history – a SMART Step Loan may help build your savings while establishing a good credit relationship by making regularly scheduled and timely payments.3

    SMART Step Loans are available to qualified applications for any amount between $500 and $10,000.

    • Easy to apply
    • Loan terms from 12-60 months at a fixed-rate of 6.00% APR4
    • Payment example: A $2,500 loan at 6.00% APR for 24 months will have a monthly payment of $110.82

    SMART Step Loan guidelines will be used to review your application. Among factors we consider are:

    • Have you been employed or had continuous income for at least six months?
    • Can you show your most recent paystubs for the last 30 day period? Or if self-employed, personal and business tax returns for the last year?
    • Do you have sufficient income to make your SMART Step Loan payments without a co-signer?

    Don’t meet all of the requirements? If you’ve been employed or had continuous income less than six months, a SMART Step Loan may still be available to you at loan amounts up to $1,000. Talk to a relationship banker for complete details.

    Once you’re approved for a SMART Step Loan, it’s as simple as 1-2-3:

    1. Your SMART Step Loan proceeds will be placed in a certificate of deposit (CD) that matches the loan term and amount you borrow. The CD will earn interest at the current rate we offer for new CDs for the same term. Funds from the CD cannot be withdrawn until the loan is paid in full.
    2. You make regular monthly payments, on time, until the loan is paid off.
    3. When the loan is paid in full, the CD, plus the interest earned on the CD, becomes yours.
Find A Location

Find nearby locations of The PrivateBank.

The Private Bank is a BBB Accredited Bank in Chicago, IL

Loans and lines of credit subject to credit approval.

Important Information Regarding SMART Banking Products: The interest rate and Annual Percentage Rate (APR) listed are effective as of 4/30/14 and are subject to change at any time without notice. Income eligibility requirements and geographic restrictions apply and are subject to change at any time without notice; see the SMART Banking Loan Lending Areas & Income Limit Chart for additional information. The loan payment will vary based on the loan amount, term, and APR. Limit of one loan in each SMART category per borrower at any one time. Other restrictions may apply.

1 – This is a personal, unsecured loan for applicants meeting the criteria listed in the SMART Banking Loan Lending Areas & Income Limit Chart. Maximum loan term is 24 months.

2 – This is a personal, unsecured loan for home repair or improvement for applicants meeting the criteria listed in the SMART Banking Loan Lending Areas & Income Limit Chart. Maximum loan term is 36 months.

3 – Favorable credit results are not guaranteedFailure to make monthly minimum payments by the payment due date each month will result in negative information reported to credit reporting agencies, which will negatively impact your credit history. Negative credit history will not be removed from your credit report as a result of this program.

4 – This is a personal loan, fully amortized and secured by a Certificate of Deposit (CD). Loan proceeds are disbursed to CD at time of loan closing and cannot be withdrawn until the loan is paid in full. If loan is in default, funds in CD will be applied against outstanding balance.  Income limits do not apply to this product. Maximum loan term is 60 months.