If you need to borrow money, one low-cost option for homeowners is to open a home equity line of credit. Interest rates are generally lower than other borrowing options, you can spread out payments over several years and the interest may be tax deductible. Home Equity loans are useful for a major remodeling project or a new garage. We offer revolving open-end home equity loans to qualified home-owners. Flexible repayment plans allow you to make a smaller, minimum payment or pay ahead early. Shelby County State Bank has two types of Lines of Credit (LOC) to cover overdrafts, make monthly payments and transfer funds to make payments:

Check Reserve:

  • May be attached to any personal SCSB checking account.
  • $100 minimum advances.
  • A set interest rate with payments made on a fixed schedule.

Home Equity Line of Credit (HELOC):

  • May be attached to any personal SCSB checking account.
  • Must own real estate to apply.
  • No closing costs and no annual fee.
  • Borrow up to 90%* of your home's value
  • Use for anything, advances can be made by simply writing a check.
  • Any interest you pay may be tax deductible**

* Subject to credit qualification.

** Consult your tax advisor regarding the deductibility of interest and potential tax savings.