Personal Unsecured Loans
First Horizon offers unsecured personal loans to help you work toward your financial goals. Our unsecured lending solutions service you with easy access to your funds for a variety of uses, without requiring collateral. Explore unsecured personal loan benefits and how our expert team of advisors can help you achieve your personal goals.
What is an unsecured personal loan?
A loan that gives you the total amount you are borrowing up front and requires fixed monthly payments throughout your loan term.
Loan Amount
- Minimum: $2,000
Terms and Repayment
- Minimum term: 12 months
- Maximum term for < $5,000: 36 months
- Maximum term for ≥ $5,000: 60 months
- Installment loan repayment: Equal monthly payments to fully amortize the note
Asset Requirements
- $2,000 – $14,999 loan: No asset reserve required
- $15,000 – $50,000 loan: Reserves required must equal the amount of 12 months of amortized payments based on loan amount, term and rate
- > $50,000 loan: 1x loan amount in asset reserves
Asset reserves may include checking accounts, savings accounts, certificates of deposit, retirement accounts and IRAs and must be held at First Horizon Bank.
Fees
- Fees may apply
Unsecured Personal Loan FAQs
What is an unsecured personal loan?
How can I use an unsecured personal loan?
You can use an unsecured personal loan for a variety of purposes, including home improvements, debt consolidation, medical expenses, major purchases or even unexpected financial needs. The flexibility of unsecured lending makes it a convenient option for many financial situations.
What are the eligibility requirements for an unsecured personal loan?
Eligibility for an unsecured personal loan typically depends on your credit score, income, and overall financial profile. At First Horizon, we assess each application individually to provide you with the best possible loan terms.
How much can I borrow with an unsecured personal loan?
The amount you can borrow with an unsecured personal loan varies based on your creditworthiness, income and asset reserves. First Horizon offers competitive loan amounts to suit your financial needs. Contact us to discuss your specific borrowing requirements.
