Personal Loans with Personalized Service
MIDFLORIDA understands that personal loans play an important part of many people’s financial wellbeing. That’s why we offer multiple types of loans designed with competitive rates and quick approvals tailored to each individual situation.
Fixed term personal loans
A fixed term loan is what most people think of when they hear the term “loan.” MIDFLORIDA will work with you to decide what loan best suits your needs and then extend a predetermined amount of money in the form of a general purpose loan. In this situation, you are given a set monthly payment amount, interest rate, and duration of time required to pay back the loan (also called the term). Typically, a general purpose loan is used for debt consolidation, minor home/auto repair, a vacation, or family emergency.
MIDFLORIDA also offers secured loans, where you essentially borrow from yourself. This form of loan typically offers offer a lower interest rate it’s backed by a deposit, savings account, or secured against your current assets. A secured loan is perfect for young adults looking to lay a financial foundation for the future. Additionally, a secured loan is a great way to build or restore credit!
Line of credit
A personal line of credit is the perfect way to acquire extra cash when you need it. Unlike a traditional loan, a line of credit allows you to borrow and repay funds as many times as needed. Essentially, a line of credit functions in a similar capacity to a traditional credit card. However, a MIDFLORIDA Premium Line of Credit typically carries a lower APR versus a credit card and there is no fee for cash advances.
You can also leverage the power of a Premium Line of Credit by attaching it to a checking account. By doing so, you unlock advantages such as automatic overdraft protection (should circumstance require it) and the quick transfer of funds between each account.
Key takeaway
In a time when other financial institutions are offering fewer loan options, MIDFLORIDA has accelerated its personal loan offering. Plus, your money isn’t just a string of numbers on an account statement. It’s personal—and we think the way you bank should reflect that.
You can link Online Banking with any MIDFLORIDA loan. This functionality provides you a simple way to manage every detail of your personal loan like checking balances, monitoring payback progress, or setting up automatic payments.
To learn more, contact our loan department at (863) 284-5626 or toll free at (855) 560-5626, visit a branch, or apply online.