First Rate Line of Credit

The First Rate Line of Credit is an open-ended consumer loan, secured by a 10-month Certificate of Deposit from Farmers and Merchants State Bank. This financial tool offers you a great investment, with the ability to conveniently borrow your money back when needed.

You purchase a 10-month certificate of deposit from us at a competitive interest rate, and with that, the loan agreement gives you the power to access those invested funds whenever you want, while the certificate of deposit continues to earn interest. This gives you a great rate of interest on your investment without tying up your funds in a traditional CD.

At just 2% over the CD interest rate, this is one of the cheapest financing options you will find. Since this is an open-ended loan, you have the ability to advance and pay back the funds as needed. You also receive a monthly statement that describes account activity for the statement period. Monthly payments are low, and can be automatically deducted from your checking account.


Call us to learn more about the First Rate Line of Credit from Farmers and Merchants State Bank, or stop in to open an account today!


*Requires a checking account at Farmers and Merchants State Bank
*$5 per advance fee, fees may increase APR
*Only available with a 10-month Certificate of Deposit

Farmers and Merchants State Bank
125 E James Street P.O. Box 137
Paynesville,MN 56362
(320)-243-3702