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A personal loan from West Shore Bank can help you pay for major expenses, consolidate debt, and build a positive credit history. Every customer—like every budget—is different. Look to our Michigan lenders when it’s time to finance your personal needs.

Key Features

  • Competitive Rates
  • Local Processing
  • Quick Decisions

What Is A Personal Term Loan?

Term loans provide a lump sum upfront that is then repaid in fixed monthly installments over a predetermined period-of-time. Personal term loans are intended to be used for personal needs such as credit card debt consolidation, large purchases like electronics or appliances, education costs, weddings, vacations, and more.

Types of Personal Loans

West Shore Bank offers two types of personal loans:

  • Secured: A secured personal loan is backed by an asset you own, such as an automobile or a recreational vehicle, or a savings account or CD. If you default on the loan, your balance may be paid off from your asset.
  • Unsecured: Approval is based solely on your credit history, credit score, and ability to repay. If you default on the loan, your credit will be negatively impacted.

Secured personal loans may offer a lower interest rate than unsecured term loans since they are backed by collateral.

What Can A Personal Term Loan Be Used For? 

Personal loans can be used for just about any personal expense or goal. The most common uses of personal loans include:

  • Large purchases (new laptop, home appliance, etc.)
  • Debt consolidation (Lower your interest rate and enjoy the convenience of having just one monthly payment)
  • Emergencies (Need to fly home to visit a sick family member, car breaks down, medical procedure, etc.)
  • Life milestones (wedding, dream vacation, etc.)
  • College expenses such as textbooks, food, etc.
  • …and more!

Apply for a Personal Term Loan!

West Shore Bank has been Making a Difference Since 1898. For over a century, we have remained committed to helping the people and businesses along the lakeshore to improve their financial well-being with our personal lending options. Apply online for a personal loan or visit one of our ten locations along the lakeshore from Muskegon to Traverse City.