Personal Loans
We offer both secured and unsecured personal loans with flexible terms to meet your needs and keep your budget balanced
Call us at 800-341-9911 or visit an office
Our personal loans include easy applications, fast decisions, and local loan servicing. You can use personal loan funds for a variety of purposes, from replacing a home appliance to going on a trip. A personal loan can keep your budget on track when you have unexpected expenses.
Royal offers both secured and unsecured personal loans. You'll get the funds you need as a one-time lump sum disbursement, with flexible repayment terms.
We can also provide secured and unsecured consolidation loans. A consolidation loan combines multiple debts from another financial or Royal into a single loan with one payment. Consolidation loans can reduce your monthly payments or lower your interest rate compared to your current debts.
Ways To Use A Personal Loan
Personal loans can be used for:
- Consolidating multiple loans into a single new loan
- Emergency expenses or medical bills
- Home improvements or other large purchases
- Education costs
- Weddings, vacations, or travel expenses
Unsecured Or Signature Loans
Borrowing limits apply to unsecured loans: $700 or lower loan amount cannot exceed 25 months; $700.01-$1,400 loan amount cannot exceed 37 months; and $1,400.01-$2,000 loan amount cannot exceed 49 months.
Understanding An Unsecured (Or Signature) Loan
- No collateral is needed for an unsecured personal loan
- Unsecured loans are simple to apply for
- Unsecured loans may be used for a range of purposes
- This type of loan is also called a signature loan
Collateral Secured Loans For Motorcycles, Boats, ATVs, or RVs
Car or truck secured loans are offered at our current auto loan rates.
Understanding A Collateral Secured Loan
- A vehicle, motorcycle, boat, or RV is the collateral securing this type of loan
- Your equity in your vehicle (the amount it is worth minus the amount you owe on it) may be able to be used as collateral in a used vehicle loan to get funds for other purchases, debt consolidation, or cash
- Rates for secured loans are typically lower than unsecured loans
- A similar loan option that uses your home as collateral is called a home equity loan
Savings Or Certificate Secured Loan
Borrowing limits apply to savings and certificate secured loans: $700 or lower loan amount cannot exceed 25 months; $700.01-$1,400 loan amount cannot exceed 37 months; and $1,400.01-$2,000 loan amount cannot exceed 49 months.
Understanding A Savings Or Certificate Secured Loan
- The funds in a Royal Credit Union savings account or certificate secures this type of loan
- Typically, you can borrow up to the balance of your savings account or certificate
- Rates for savings and certificate secured loans are lower than unsecured loans
Helpful Tools
Need help with the numbers? Try one of these calculators below.
How To Get Started
We offer many easy ways to open an account with Royal Credit Union
Apply Online Now
Complete our easy online application and get a decision fast.
Visit An Office
Instead of applying online, schedule an appointment at an office to apply.
Need Help?
If you have questions or need help, call our lending team at 800-341-9911 or visit our contact page.
