Account For... Service Fees Special Features
Agricultural Anyone wanting a loan for the purpose of land purchase, crop production, equipment, livestock, etc. Various fees can be assessed according to the type of collateral and terms. Crop production loans, farm equipment purchases, or loans to purchase livestock. Monthly payment or seasonal payment arrangements are available. Agriculture has long been a thriving segment of our local economy. Citizens Bank is committed to helping maintain the success of farming in our area.
Consumer Anyone who has a need or desire to make a sizable purchase and is willing to spread the cost over time. Various fees can be assessed according to the type of collateral and terms. Loans may be taken out to finance a vacation, auto purchase, consolidate several payments or other consumer needs. These loans are granted on the basis of a customer's financial history but collateral may be required such as a certificate of deposit, stock or some other tangible asset.
Personal Anyone, Anyplace, at Anytime. Various fees can be assessed according to the type of collateral and terms. For that personal expenditure, vacation time, new furniture, or Christmas expense. Maybe the family auto needs new tires or repairs to keep it dependable. Whatever the reason, we can arrange that personal loan with a variety of repayment terms to fit your budget. Automatic payments from deposit accounts at Citizens Bank are available for your convenience.
Construction Anyone wanting to build that dream home or perfect business. Various fees can be assessed according to the type of collateral and terms. $300 Construction Appraisal With or without permanent financing. Monthly interest payments during construction period.
Adjustable Rate Mortgage If you want to finance any type of dwelling and you are going to live or own dwelling for 3-5 years, this is your loan. Typically low fees. $125/$200 Appraisal Fee. No Points No Origination Rates are adjusted on one and three year intervals. Lifetime cap on primary residence mortgage loans. Long-term amortization periods. Low closing costs and comfort of dealing with a hometown bank
Freedom Line of Credit Anyone who owns any type of real estate and has equity in that real estate.

* See below.

Freedom to use money for whatever your needs might be. Five or ten year repayment with interest-only payments monthly. A balloon principal payment will result at the end of the five or ten year repayment period. Secured by 1st or 2nd mortgage on primary residence, 2nd homes, rental homes, farm land, & commercial property.

*The Annual Percentage Rate (APR) for the Freedom Line of Credit is variable and is based upon an index plus a margin. The APR will vary with the Prime Rate (the index) as published under "Money Rates" in the wall Street Journal and an increase in the Prime Rate will mean an increase in your APR. The APR as of 06/23/2014 is 5.50% if the ratio of the loan to value of the property is 80% or less, and is 6.50% if the ratio of the loan to value of the property is over 80%. The rate will not vary above 20.50% APR, or applicable state law. The rate will not adjust below 5.50% if the loan-to-value ratio is 80% or less, or below 6.50% if the loan-to-value ratio is above 80%. As of the above date, all closing costs and fees will be paid by Citizens Bank and no reimbursement will be required. Terms and rates are subject to change. Consult your tax advisor regarding the deductibility of interest. Property insurance will be required and flood hazard insurance may be required if the dwelling is located in a special flood hazard area. The Freedom Line of Credit is secured by a lien on 1-4 family residential real estate and is subject to property and credit approval.

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Citizens Bank of Lafayette
P.O. Box 100
Lafayette, TN 37083