Lines of Credit

Lines of Credit

Whether you need to make a major purchase, consolidate your debt or plan to embark on a home improvement project, a line of credit might be the right choice for meeting your financing needs.

A line of credit is a simple financing tool that gives you all the flexibility you need. The funds are available for you to "draw down" however much you need as long as you don't exceed your limit.

This financing solution is suited for you if:

  • You need help to fund upcoming projects (renovations, new furniture, computer equipment, etc.).
  • You are looking for a convenient financing solution to face unexpected expenses or to take advantage of a good opportunity when you see one.
  • You want more flexibility to manage your personal finances.
  • You seek flexible repayment terms.
  • You are somewhat comfortable with interest rate fluctuations.

This financing product is not suited for you if:

  • You are not disciplined in your debt reimbursements.
  • You are not comfortable with interest rate fluctuations. A credit line's rate is tied to the prime interest rate, which means it will fluctuate as the prime rate moves up or down.

We offer four types of lines of credit:

A Home Equity Line of Credit. Secured by the equity in your home, a home equity line of credit typically carries a low interest rate and offers the financial flexibility of requiring monthly payments only on the interest on the loan, or paying interest only for 120 months and then 120 months of principal and interest. Because it acts like a revolving line of credit, a home equity line of credit also provides the convenience of giving you access to your available funds anytime you want - for any reason.




A secured line of credit. If you have a Pinnacle CD or savings account, you can use it as collateral for a line of credit to get a lower interest rate. This allows you to continue earning interest on your savings and avoid early withdrawal penalties on CDs by keeping the account open. You can use any of the following as collateral:

  • Government bonds (federal, state or local)
  • Other bonds (intermediate, corporate, municipal)
  • Brokerage account
  • Cash value of whole life insurance policy
  • Deposits (CD, checking, savings or money market accounts)
  • Mutual funds
  • Stock (NASDAQ, NYSE, AMEX)




An unsecured line of credit. You don't need to use your home or other assets to borrow money. You'll have the flexibility to borrow different amounts at different times, and your monthly payment amount may vary. You can use your line of credit all at once, or a little at a time.




A line of credit for overdraft protection. When tied to your checking account, the line of credit can save you from the fees and embarrassment of coming up short.




If a line of credit is the right solution for you, apply using the appropriate link above or stop by one of our offices for an application. We'll process your application locally and let you know quickly if the loan is approved. We accept applications from residents of Tennessee, North Carolina, South Carolina and Virginia.