Home Equity Line of Credit (HELOC)

Do you need money for college tuition, home improvements, or maybe a well-deserved vacation?  Whatever your reason, a home equity line of credit is a resourceful way to get the cash you need – when you need it.

  • Variable interest rate
  • Interest-only payments during the draw period and only on the amount borrowed
  • Interest payments may be tax deductible (consult your tax advisor for advice on your specific situation)
  • Certain closing costs paid for by i-bank for Home Equity Lines between $10,000 and $250,000*
  • $50 annual fee (waived if you have an Independent Bank checking account with automatic payment drafted monthly for our Home Equity Line of Credit)*
  • Contact i-bank for more information.

Call Customer Service at 888-716-9293 or stop by any of our branches to begin your HELOC application.


* Certain closing cost will be paid by Independent Bank for new loans with an initial advance of $10,000 or more taken at or before the closing of the line of credit, to be disbursed immediately upon expiration of any applicable rescission period.  The closing cost that will be paid for loans up to $250,000 include the first property valuation obtained by Independent Bank, title search fees, and filing and recording fees in Tennessee, Mississippi and Arkansas or up to equivalent of Tennessee closing cost for properties located in other states but excludes any subsequent property/collateral valuation not required by us and, if required, title insurance and related fees.  Any closing cost associated with future changes or modifications of this line of credit will be the paid by the borrowers.

At account opening, the Annual Fee will be waived if you have an Independent Bank checking account with automatic payment drafted monthly for your Home Equity Line of Credit payment.  The Waiver of Annual Fee will terminate if you discontinue your automatic payment with Independent Bank or close your Independent Bank checking account.  The waiver will be removed and shall be subject to the original terms listed in the Home Equity of Credit Agreement.

EARLY TERMINATION FEE.  You will be charged a $500 Early Termination Fee if you terminate your Credit Line within 36 months from account opening unless it is refinanced with Independent Bank.