Panacea Financial, a division of Primis Bank, deposit products:
FDIC-Insured – Backed by the full faith and credit of the U.S. Government

Credit Card vs. Personal Loan Calculator

Save with a low, fixed-rate PRN Personal Loan.

When tight on cash, many take on credit card debt. Often, this debt can become toxic when interest grows beyond a manageable level. Personal loans could be a better option with lower rates and better terms.

Compare interest from personal loans vs. credit cards here.

Credit Card vs. Personal Loan Calculator

Save with a low, fixed-rate PRN Personal Loan.

When tight on cash, many take on credit card debt. Often, this debt can become toxic when interest grows beyond a manageable level. Personal loans could be a better option with lower rates and better terms.

Compare interest from personal loans vs. credit cards here.

Credit Card vs Personal Loan Calculator

10,00020,00030,00040,00050,000

Panacea PRN Personal Loan

High-Interest Rate Credit Card

22.50 % APR

9.36 % APR*

$ 6,742

$ 2,759

Estimated savings with Panacea

$ 3,983

Example chart shows calculations based on a 5 year Panacea Financial PRN Personal Loan with a fixed rate of 9.36% APR which is the average median funded APR for Panacea PRN Personal loan borrowers who took out a loan with a 5 year term from January 1, 2022-January 1, 2023. A borrower’s actual savings could be higher or lower depending on the APR of the debt being refinanced.
Lowest rates are reserved for the most qualified borrowers. The ‘High-Interest Rate Credit-Card’ APR shown is the average credit card APR reported by Wallethub for Q4 2022 under their Good Credit category. The savings estimate also assumes that the borrower doesn’t take out any additional credit card debt during the same period. Both calculations assume 60 total monthly payments and no pre-payment amounts.

Credit Card vs Personal Loan Calculator

10,00020,00030,00040,00050,000

Panacea PRN Personal Loan

High-Interest Rate Credit Card

22.50 % APR

9.36 % APR*

$ 6,742

$ 2,759

Estimated savings with Panacea

$ 3,983

Example chart shows calculations based on a 5 year Panacea Financial PRN Personal Loan with a fixed rate of 9.36% APR which is the average median funded APR for Panacea PRN Personal loan borrowers who took out a loan with a 5 year term from January 1, 2022-January 1, 2023. A borrower’s actual savings could be higher or lower depending on the APR of the debt being refinanced.
Lowest rates are reserved for the most qualified borrowers. The ‘High-Interest Rate Credit-Card’ APR shown is the average credit card APR reported by Wallethub for Q4 2022 under their Good Credit category. The savings estimate also assumes that the borrower doesn’t take out any additional credit card debt during the same period. Both calculations assume 60 total monthly payments and no pre-payment amounts.

Personal Loans For Physicians, Dentists & Veterinarians

Find the funds you need for credit card consolidation, residency relocation, exam costs, life events and more from the bank built for doctors, by doctors.

Apply In Less Than 10 Minutes

Personal Loan Resources:

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Panacea Financial Holdings partners with Primis Bank, Member FDIC, to deliver banking services through its Panacea Financial Division.

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External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by Panacea Financial. Links are provided for informational purposes and should not be viewed as an endorsement
Fine Print

1. All personal loans have a $100 origination fee. To obtain a new loan with Panacea Financial, you must also have a Panacea checking account; there is no fee to open the account, a minimum deposit of $25 required, and there is no minimum balance. Other fees and charges may apply, see this link for full terms and conditions. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. All APRs assume a 0.50% discount with auto-pay from a Panacea Checking account. We offer a 0.25% discount with auto-pay from a non-Panacea checking account.  To check the rates and terms you qualify for, click “Apply Today” and Panacea will conduct a soft credit pull to determine your possible rate and will not affect your credit score. Not all applicants qualify for the lowest rate or maximum loan amount; subject to credit approval.  Total borrower maximum varies by stage of career and with credit score: In School maximum is between $1,000 – $10,000; In Training maximum is between $1,000 – $20,000; In Practice maximum is between $1,000 – $50,000.

2. No payments during the first year. For a 5-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization years 4 and 5. For a 7-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization over years 4, 5, 6, and 7.

3. For a 3-year term, you make interest-only payments in years 1 and 2. Full amortization in year 3. For a 5-year term, you make interest-only payments in years 1, 2, and 3. Full amortization in years 4, and 5. For a 7-year term, you make interest-only payments in years 1, 2, 3, and 4. Full amortization in years 5, 6, and 7.

4. Interest-only payments during first 6 months of loan. Full amortization over remainder of loan.

5. Adverse Credit Event: two or more payments more than 30 days late, totaling more than $500, within the prior 6 months; accounts with a total outstanding balance greater than $1,000 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off during the two years preceding the date of the credit report; default determination during the five years preceding the date of the credit report; bankruptcy discharge during the five years preceding the date of the credit report; repossession during the five years preceding the date of the credit report; foreclosure during the five years preceding the date of the credit report; charge-off/write-off of a federal student aid debt during the five years preceding the date of the credit report; wage garnishment during the five years preceding the date of the credit report; tax lien during the five years preceding the date of the credit report; consumer credit counseling within five years preceding the date of the credit report.

6. Panacea utilizes the Equifax credit bureau, with a FICO score minimum of 660 to qualify for a personal loan.

7. PRN Loans have no prepayment penalty or prepayment fee and may be repaid at any time after loan closing. The minimum and maximum term varies by employment status. In-Practice and In-Training PRN Personal Loans have repayment periods of 3, 5, or 7 years. In-School PRN Personal Loans have repayment periods of 5 or 7 years.

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