[nilesh]

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Hello sir, please give me here detail for Two Choices of Variable Rate Payment Options of PNC bank Equity payoff?

[Vishal Kotkar]

The PNC bank if provides A home equity line of credit is a revolving line of credit secured by your home that allows you to access the available equity you have in your home.

With a home equity line of credit, you can borrow as much or as little as you need, whenever you need it, up to your established credit limit.

As you repay your outstanding balance, the amount of available credit is replenished, which becomes available again for future use.

Two Choices of Variable Rate Payment Options:

Principal and interest - 1/360th of the principal balance in the variable rate part at the end of the billing cycle plus accrued interest and fees
Interest-only - The sum of accrued interest and fees during the billing cycle

Key Features and Benefits:

Flexibility: Lock in a fixed rate on all or any part of the variable rate balance1

Accessibility: Access your funds via check, online, telephone banking, at any PNC branch and by using your Visa® Choice Access Card

Payment choice: Two variable rate payment choices to choose from – principal and interest or interest-only.

Tax Benefits: The interest you pay on your home equity is typically tax deductible2

Savings: 0.25% interest rate discount when automatic payments are set up with a PNC account