Can I complete a personal loan application over the phone or online?

Interest rates are determined based on the type of personal loan, collateral and terms. (Note: We offer a 1% discount on some personal loans with automatic payment from a Gate City Bank checking account.) Current rate information is available for:

• Auto loans
• Home Equity loans
• Boat loans
• RV loans
• Ice house loans

Not long at all! You can expect to hear back on the status of your personal loan application within one business day. Because steps required to close on a personal loan product vary, wait periods may fluctuate. On average, expected timeframes are:

• Auto loans: Can be completed within one business day, if lender has required documentation.
• RV loans: Can be completed within one business day, if lender has required documentation.
• Boat loans: Can be completed within one business day, if lender has required documentation.
• Home Equity loans: May take up to four weeks to close, including required wait period of 10 days from date of application.

We encourage you to ask a personal lender of timeline expectations in your initial communications to best prepare expectations.

We may require a co-borrower on a loan, depending on your credit. Our lending team will gladly work with you to determine available options when you submit your application!

Great question! Common types of collateral used include houses, cars, boats, RVs, motorcycles and certificates of deposit (CDs).

There are no prepayment penalties on any of our personal loans or lines of credit. You can pay as much as you’d like above your scheduled payment at any time!