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Personal Loans

A new or used vehicle, home improvements, a boat or motorcycle, personal expenses --- whatever your borrowing need might be, we're ready to help! One of our loan officers will be happy to put together a financing plan that fits your budget and helps you enjoy the finer things in life.  Some pointers on applying for credit, as well as information on our most popular types of consumer loans, are provided below.

A visit to any of our banking centers is the most popular way to apply for a consumer loan. A face-to-face meeting provides us with the opportunity to discuss your needs and come up with a financing plan that's ideally suited to your situation. It also helps us speed up the paperwork, avoiding any unnecessary delays in processing your loan. In general, here's how the process works:

  • If possible, call ahead to set up a meeting time with a loan officer
  • Gather up a few key facts and bring them with you (our loan officer will tell you what's needed)
  • Allow around 20-30 minutes for us to take your application
  • In most cases, we can provide you with an immediate credit decision
  • We'll get the paperwork ready for your signature
  • You sign the documents
  • We give you the money

It's really that simple!  To take action and contact one of our lenders, click on the "Get Started Now" box to the left.

When you borrow from us, you're sure to enjoy the low, money-saving monthly payments.  To help make them even lower, be sure to ask about our special interest rate discounts.  They're available on many types of loans if you make automatic payments from checking.  They're also included in our special checking packages like The BEST Checking and Privilege Banking.

Conventional Auto/RV Loans

Our conventional auto loans are the most popular way of financing or refinancing a vehicle. Loans are available for new and later-model used cars, trucks and RVs. We'll also consider loan requests for antique, classic and special interest vehicles. Benefits include a fixed rate of interest and repayment in convenient monthly installments. Our flexible terms enable you to stretch out payments over an extended term on new and near-new vehicles in order to fit your budget.

Tax-Deductible Auto/RV Loans

If you're a homeowner with sufficient equity (the difference between your home's value and the balance of any loans against it), you might want to consider the potential advantages of a tax-deductible auto loan.  Like a conventional auto loan, it can be used to finance a new or late model used car, truck or SUV. However, because it's secured by the equity in your home rather than a vehicle, the interest may be deductible for tax purposes (be sure to ask your tax professional for details). While this option isn't for everyone, it might be worth considering, especially if you have another borrowing purpose in mind --- home improvements or another major purchase --- in addition to an auto loan.  Talk to us.  We'll help you figure things out.

Indirect (Dealer) Auto Loans

Money that's spent at home stays at home. If you buy a vehicle from a dealer in the greater Muscatine and Wilton area, you're helping the local economy. What's more, odds are good that you can also get on-the-spot financing right at the dealership through Central State Bank. Nearly every local auto dealer has an agreement with us which enables them to take applications and make "indirect" loans on our behalf. Simply ask the finance officer to process your loan through Central State. After you've completed your purchase, we'll be in touch with you to handle the details of your repayment plan. You'll benefit from a great rate, and great local service, too!

Fixed Rate Home Equity Loans

A home equity loan enables you to borrow for a wide variety of purposes --- home improvements, an auto, major purchases, and more --- by using the equity in your home as collateral. The advantage is that unlike other types of consumer credit, the interest on a home equity loan is often deductible for tax purposes (consult your tax professional for details). Another plus:  the interest rate is usually less than on other types of consumer loans. Put it all together and it means you'll save money because your overall cost of borrowing is less.  In general, we'll lend a relatively high percentage of the value of a home, less the balance of any mortgages against the property. The interest rate is fixed, and repayment is in convenient monthly installments. 

Home Equity Credit Line

Our home equity credit line is a handy borrowing tool that puts you in the driver's seat. You apply only once, then you can borrow money anytime the need arises and in any amount up to your pre-established credit limit. You're in control when it comes to repayment, too. Only a small minimum payment is due monthly; you decide when and how much to pay against the principal balance. The interest rate is variable and is adjusted periodically based on changes in the prime rate. A monthly billing statement is provided for your convenience. It shows all account activity and the minimum payment due.

Home Improvement Loans

If you're considering making some improvements to your home and you're short on home equity, our Home Improvement Loan program can help.  Interest rates are fixed, repayment is in convenient monthly installments, and terms of up to ten years are available to make things easy on your budget. Written estimates of the cost of your project, plus an estimate of the post-improvement value of your home, may be required to process your loan. 

A far cry from the "mobile homes" of many years ago, today's manufactured housing offers the features, comforts and conveniences usually associated with conventionally-built homes --- and often at a lower cost. We offer affordable fixed rate installment loans for the purchase of new and used units. Extended repayment terms are available for new and selected used units in excellent condition, in order to help make the monthly payments fit your budget.  
Financing for the fun things in life --- that's what our boat, camper trailer and motorcycle loans are all about! You'll benefit from a competitive fixed interest rate and fairly flexible terms on new and used units.  Repayment is in convenient monthly installments.
When it comes to loans, there's no better collateral than money in the bank! That's why borrowing against a Central State Bank certificate of deposit is often one of the lowest-cost loans available. We make loans against all non-IRA/non-retirement CDs at extremely competitive rates of interest. Repayment can be in the form of monthly installments or a single-payment that's due when your CD matures. Beyond low cost, another important advantage of this type of loan is that it enables you to keep your investment program intact.
With no collateral other than the promise to repay, Unsecured Personal Loans are generally available to individuals with an established credit record and an outstanding credit history. Interest rates are fixed, terms are available for up to one year, and repayment can be made either in convenient monthly installments or in one lump sum when the loan matures. Although interest rates are higher than collateralized loans, unsecured loans still offer the benefit of quick, convenient financing when the need arises.