Personal Loans

Need financing for a car, boat or recreational vehicle? Whether you need cash for a new purchase, new expenses or home improvements, we can help you choose the right plan to get started. We offer a range of financing options and fast, personalized service to simplify the process. Whether it's a new or a previously owned car (models six years old and newer), we have options to get you on the road.

New and Used Car Loans

• Terms ranging from 24 months up to 72 months
• A fixed rate and term so you know your monthly payment
• We finance up to 90% of Sales Price for new cars
• We finance up to 100% of the NADA Loan Value for used cars
• Choose the autopay feature from a Monarch checking account for our best rate
• Minimum loan amount of $2,500

Monarch Deposit Secured Loans

• Use your Monarch Bank deposit account as collateral for a great, low-priced loan
• A fixed rate and term so you know your monthly payment
• Loan amounts up to 100% of your Monarch Bank deposit
• Choose the autopay feature from a Monarch checking account for our best rate
• Loan term must match deposit term and maturity
• Receive a loan rate based on your deposit rate

Boat Loans

• A fixed rate and term so you know your monthly payment
• Choose the autopay feature from a Monarch checking account for our best rate
• Finance up to 75% of the sales price for new boats
• Finance up to 70% of the sales price for used boats
• Maximum 48 Month Term
• Minimum loan amount of $2,500

Recreation Vehicle Loans

• A fixed rate and term so you know your monthly payment
• Choose the autopay feature from a Monarch checking account for our best rate
• Finance up to 75% of the sales price (New to 5 years old)
• Maximum 48 Month Term
• Minimum loan amount of $2,500

Overdraft Protection

• Protect your checking account with our overdraft protection line of credit
• For Ambassador and Regal Checking Accounts only
• Standard Line is $500 with a $5.00 transfer fee for each transfer
• Minimum Draw is $250

All personal loans have a $95 origination fee. See Lender for details. All loans subject to credit approval. Loans made in the Bank's market areas of Virginia and North Carolina only.