Personal Unsecured Line of Credit > Payment Estimator

One of the convenient features of the ReadyLine of Credit is that you can take cash advances in any amount you need, up to your available credit limit.

The size of each cash advance determines the manner in which it is repaid. If you have a large purchase of $2,000 or greater, that cash advance will be repaid in equal monthly installment payments over a period of 48 months.1 Cash advances of less than $2,000 will not have a required installment payment calculated over 48 months. These cash advances are part of a revolving balance, with a monthly minimum payment, similar to a credit card.

Use the estimator below to enter each cash advance amount you anticipate taking and we'll help estimate your monthly payments.

ReadyLine of Credit Payment Estimator
Cash Advance greater than $2,000 paid in monthly installments:
Cash Advance less than $2,000 that will revolve: $
Interest Rate:*     
Total estimated monthly payment* $ 0.00

NOTE: See examples of how the calculator works.

1 Any cash advance of $2,000 or more is referred to as an "Installment Draw" in the ReadyLine of Credit Agreement. Each Installment Draw has a required minimum monthly payment, which is calculated based on the monthly payment amount required to pay off the Installment Draw in 48 months at the interest rate in effect at the time of the Installment Draw (Minimum Installment Draw Payment). The Minimum Installment Draw Payment remains the same for 48 months. The applicable periodic interest rate is variable. If the interest rate increases during the repayment period, the Installment Draw will not be repaid within the 48-month period. In that event, the remaining balance will be repaid in accordance with the terms applicable to cash advances of less than $2,000. If the interest rate decreases during the repayment period, the Installment Draw will be repaid sooner than the 48-month period.

* The total estimated payment is an estimate based upon one of the interest rates available today. Your interest rate is based on your creditworthiness when you open your account and will be provided to you upon approval. You will not know the exact monthly payment amount until you receive your monthly billing statement.

This calculator is for information, education, and entertainment purposes only. This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. It is your responsibility to evaluate the merits and risks associated with relying on any information provided.

By entering this section of the Commerce Bank web site, you acknowledge your understanding and acceptance of the terms of its use.