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Checking Reserve

Checking Reserve is a line of credit approved for qualified checking account customers to automatically cover overdrafts up to the approved credit limit. Funds are deposited into the customer's account in increments of $100 (as needed), up to the credit limit.

  • Customer must be at least 18 years of age to apply

  • Customer must have a checking account with our bank for at least six months prior to application (account must be handled in satisfactory manner), or a credit report may be pulled to qualify before the six month minimum

  • Credit lines range from $300 to $6,000

  • Interest rate is 18% APR (Annual Percentage Rate) - charged only on funds used

  • Funds are disbursed from Checking Reserve when balance in the account falls below $0

  • Payments are debited from customer's checking account on the day following the statement cycle date. If payment is made in person, the automatic payment will still be made if there is a balance owed

  • Available credit for unexpected needs

  • Customer receives notice of advance(s), which are also reflected on the monthly statement

  • To get started, you may fill out our online loan application or call 218-333-4320 for more details and disclosure information - see Truth in Lending disclosure for Checking Reserve below

 Payment Schedule is as follows: 

If your 

balance is:


payment is

$ .01         to     $25 

 Balance of Account

$25.01      to   $600 


$600.01    to  $1200


$1200.01  to  $1800


$1800.01  to  $2400.00


$2400  up to $6000 The minimum payment amount will increase by $25 for every increase of $600 advanced against the credit line.

Copyright 2012,  First National Bank of Bemidji

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