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Get money when you need it at an interest rate you can afford with our Personal Line of Credit - used by many of our customers for checking account overdraft protection. It costs you nothing until you use it, just the interest on your outstanding loan balance -- and there are no overdraft transfer fees, so it's perfect for your checking account overdraft protection. Compared to credit card account and other banks' loan programs, our Personal Line of Credit has lower interest rates and lower monthly payments. Some personal credit lines have fixed interest rates that Pacific Trust thinks are relatively high for today's marketplace. And, they may have very high minimum monthly payment requirements. How much better can it be? Our Personal Line of Credit has a variable interest rate that adjusts monthly to the major bank Prime Rate plus a Margin of 5%.* The current Personal Line of Credit interest rate (Annual Percentage Rate, or A.P.R.) for January 2008 is 12.50%, based on the 7.50% Prime Rate in effect on 12/1/07. However, the Prime Rate on January 1, 2008 is 7.25% -- this means that the Personal Line of Credit rate will drop 0.25% to 12.25% effective February 1, 2008. Your interest rate could go even lower. Unlike many other bank's variable-rate loan programs, there is no interest rate floor - if Prime drops, your loan rate will follow down as well. Of course your rate could go up if Prime increases. The maximum life-of-loan interest rate is 18.0%. The minimum monthly payment for this loan program is just 1.50% of the current outstanding loan balance, or $25.00, whichever is greater. It does not fluctuate with changes in the interest rate. For example, with a $5,000 credit limit and $2,000 outstanding balance, our Personal Line of Credit minimum payment would be just $30.00! You'll get a statement reflecting each month's minimum payment.
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