SMART Banking

At The PrivateBank, we know that there is a need for access to affordable financing options. That’s why we offer SMART Banking. Certain products have qualifications- view the product qualification grid to see if SMART Banking is right for you.

  • SMART Access Account

    Take the guess work out of managing your account. We know that life can get hectic, and keeping tabs on your account balance can be challenging. Simple oversights like forgetting to record an ATM withdrawal or debit card purchase can lead to spending more money than you have in your account- resulting in frustration and overdraft fees.

    The SMART Access Account is specifically designed to help you avoid overdrafts and overdraft fees. The PrivateBank will stop transactions1 that would cause the account to become overdrawn.2

    Key features include:

    • No overdrafts or overdraft fees
    • If you do not have sufficient funds in your account to complete a transaction, the transaction will not be paid
    • No minimum balance requirement
    • Non-interest bearing
    • Check-free account – avoid bounced check fees
    • Access your money by using your debit/ATM card, online or mobile banking or by visiting a branch location
  • 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% APR3
    • Payment example: As of 3/30/17, a $2,500 loan at 9.95% APR for 24 months will have a monthly payment of $115.33
  • 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 $10,000 for home repairs or home improvement.

    • Easy to apply
    • Loan terms up to five years at fixed-rate of 4.95% APR4
    • Payment example: As of 3/30/17, a $10,000 loan at 4.95% APR for 60 months will have a monthly payment of $188.51
    • Special interest rate discount available with loan payments auto-debited from your checking account with The PrivateBank when you enroll at loan closing
  • SMART Affordable Mortgage Loan

    Buying a new home is one of the biggest decisions you will make and there are countless questions along the way. How much space do we need? How about the roof? Of all things to wonder about, your mortgage provider shouldn’t be one of them.

    Low down payment options are available on long-term, fixed-rate mortgages for the purchase or refinance of owner-occupied single-family homes or condominiums.

    • Private Mortgage Insurance (PMI) not required
    • Flexible underwriting available
    • Access to special Homeowner Education Programs to help you make sure homeownership is right for you

    The SMART Affordable Mortgage Loan may be right for you if:

    • You are purchasing a new home or refinancing your mortgage on your existing owner-occupied home
    • You have at least three percent to apply to the down payment on a new home5
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  • 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.6

    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% APR7
    • 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.
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1 – Transactions include ATM or pre-authorized withdrawals, People Pay payments, online payments or transfers including recurring or scheduled internal or external account transfers or payments via Bill Pay, mobile remote deposit, debit card point of sale purchases and teller assisted transactions.

2 – There may be times when a negative balance in the account can occur, such as if a transaction is authorized for one amount but the actual charge is more than the money in the account.

3 – The SMART Personal Loan is an unsecured loan with a maximum term of 24 months available.  The Annual Percentage Rate (APR) listed is effective as of 4/17/17 and is subject to change at any time without notice. The loan payment will vary based on the loan amount and term. Income eligibility requirements and geographic restrictions apply.  Click here for the SMART Banking Lending Areas & Income Limit Chart. Subject to credit approval. Limit one offer per individual. Additional terms and conditions apply.

4 – The SMART Home Improvement Loan is an unsecured loan with a maximum term of 36 months used for home repair or improvement for an owner-occupied single-family dwelling.  The Annual Percentage Rate (APR) listed is effective as of 4/17/17 and is subject to change at any time without notice. The loan payment will vary based on the loan amount and term. Income eligibility requirements and geographic restrictions apply.  Click here for the SMART Banking Lending Areas & Income Limit Chart. Subject to credit approval. Limit one offer per individual. Additional terms and conditions apply

5 – The Annual Percentage Rate (APR) for a 30-year SMART Affordable Mortgage Loan with a loan amount of $150,000 and 90% loan-to-value used for the purchase or refinance of an owner-occupied, single family dwelling was 4.927% as of 4/17/17 and a monthly loan payment of $782.47.  The APR is subject to change at any time without notice.  An escrow account is required; therefore, the loan payment mentioned will be increased to cover amounts for real estate taxes, homeowner’s insurance and flood insurance premiums if required.  Income eligibility requirements and geographic restrictions apply. Click here for the SMART Banking Lending Areas & Income Limit Chart.  Subject to credit approval.  Additional terms and conditions apply.

6 – The SMART Step Loan was designed to build your savings while establishing a good credit relationship by making regularly scheduled and timely payments.  Favorable credit results are not guaranteed. Failure 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.

7 – The SMART Step Loan is a personal loan, fully-amortized and secured by a Certificate of Deposit (CD), with a maximum term of 60 months. The Annual Percentage Rate (APR) listed is effective as of 4/17/17 and is subject to change at any time without notice. The loan payment will vary based on the loan amount and term. 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. Subject to credit approval. Limit one offer per individual. Additional terms and conditions apply.