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Illini Check Guard LOC

Illini Check Guard.jpg

The Bank offers Illini Check Guard line of credit that is attached to any checking, or Money Market account. Based on credit qualification, lines are available for a minimum of $300 to a maximum of $3,000, with an APR of 17.00%; interest is charged only for the number of days outstanding. A minimum monthly payment equal to the greater of 5% of the outstanding balance or $50 will be auto-deducted from the consumer's checking account. Additional or larger payments may be made at any time through online banking or by contacting the Bank. Advances are in $200 increments and are transferred automatically to cover a negative balance. If the balance in the Check Guard account is not sufficient to cover the items, all available funds will be transferred. Any remaining items that cannot be covered by the transfer will be charged overdraft fees or returned item fees. There is a $28 annual fee for this product. Visit any Illini Bank branch or call us toll-free at 1-888-455-4641 to apply or obtain additional information.Illini Bank offers Illini Check Guard overdraft protection (upon credit approval) on any checking account for a low $28.00 annual fee, and a $7.00 per transfer fee.

Note: Your overdraft line may not be large enough to cover all items that have overdrawn your checking account that day. Once any single checking transaction exceeds your available overdraft line, we will make a partial transfer with the remaining available line to your checking, bringing your available line to $0. A partial transfer will not fully cover an overdraft transaction but will, if the item is paid and not returned; reduce the resulting overdrawn balance in your checking. Any item(s) in the checking account that cannot be covered will cause your account to become overdrawn.

How do you enroll:

If you are a new customer, you can enroll when you are opening your new checking account. If you already have a checking account, you can enroll by contacting your local Illini Bank branch. Overdraft Lines of Credit are subject to credit approval.

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