When you need money to fund life's necessities or its pleasures, look no further than the local team of personal lenders at F&M Bank. We offer a full range of personal loans with flexible terms, competitive rates, local decision making, and quick turnaround time. For more than a century we’ve been providing friendly and personalized service to individuals and families across the Shenandoah Valley. Our personal installment and unsecured loans can help you overcome financial obstacles like an unexpected medical bill or provide the capital you need to realize a long-held dream such as a wedding or personal project.

What are installment loans?

Installment loans are a type of personal loan with a predetermined repayment structure. Unlike a credit card, for which the repayment period is at the discretion of the cardholder, installment loans are repaid in consistent monthly payments over a set time period such as a few months or a few years, depending on the size of the loan.

As your local community bank, F&M strives to offer the best possible terms and rates on our personal installment loans. Our competitive interest rates reward your strong payment history. And simple interest means you pay interest only on the outstanding balance. You can reduce your interest cost if you choose to repay early.

All of our lending decisions are made locally, giving us flexibility in the loans we write as well as a swift turnaround time on applications. Unlike bigger lenders, or online personal lenders, we see you as more than a list of numbers. Our employees live and work in the same communities as our customers, and we do our best to take your unique circumstances into account.

Unsecured Loans

This type of personal loan is the ideal way to finance a one-time expense. Sure, you might be able to use a credit card, which is also a type of unsecured debt, for the same purchase, but with an unsecured personal loan you benefit from a fixed monthly payment. Knowing in advance how much you will need to repay each month helps you budget better. F&M Bank’s minimum loan size on unsecured loans is $2,000, and the interest rate is fixed, which is another advantage credit cards don’t offer. Perhaps you need help paying for a security deposit on a new apartment and other moving costs. Sometimes an expensive car repair or unanticipated medical bill takes a bigger bite out of your budget then you can afford. People also use personal loans to fund projects like launching a band or completing a professional certification course. For all of these events and more, F&M Bank is here for you in your own community.

Lending programs, including rates and terms, are subject to change without notice.

Other Personal Loans

There is no finite list of reasons our customers take out personal loans. This flexible, individualized loan can be used for just about anything you need help paying for.

Auto loans - Finance most anything on four wheels. Automatic payment deduction from your F&M Bank checking account makes your payments very convenient, too!

Construction Loans - F&M Bank works with builders and home buyers directly to ensure a seamless and user-friendly construction loan process, helping you and your clients build dreams into reality.

Home Equity Line of Credit - Cash on hand, whenever you need it! With a Farmers & Merchants Bank Home Equity Line of Credit, you'll receive the advantages of a loan with the flexibility of a reusable line of credit.

Home Equity Loans - A home equity loan is a good choice if you need money for a one-time expense.

Home Mortgage Loans - Our experienced mortgage team has the experience, ability, knowledge, and integrity to make your entire home loan application process pleasant and successful. Learn more!

Apply for a personal loan online or in your local branch

Contact us today to learn more about our personal loan options or to begin the application process. You can also apply for a personal loan from the comfort of your own home or anywhere else you have Internet access. From Harrisonburg to Staunton and in Augusta, Page, Rockingham, and Shenandoah counties, the personal lending team at your local F&M branch is ready to help you identify the best type of personal loan for your needs.

personal lending

Farmers & Merchants Bank makes loans without regard to race, color, religion, national origin, sex, marital status, or age (provided the applicant has the capacity to contract).