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The Simmons Bank Affordable Advantage

Banking tailored to you.

At Simmons Bank, you have multiple options for banking that are tailored to your goals. Whether you are just starting out, needing to rebuild your credit or are seeking homeownership, we have the accounts and benefits that matter the most at the stage of life you’re in.

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Affordable Advantage Checking

Affordable Advantage Checking is perfect for the customer who keeps a lower balance and wants all the basic transaction capabilities while protecting yourself from overdrafts.

  • Reduced risk of overdraft{75}
  • Certified Bank-On product
  • $25 minimum balance to open
  • $0 monthly service charge

100% Affordable Advantage Mortgage

Homeownership with 100% financing and buy a home with no down payment. This loan also has a low fixed interest rate, more flexible credit requirements and no Private Mortgage Insurance (PMI).

  • No down payment
  • No Private Mortgage Insurance (PMI)
  • Not limited to first-time homebuyers

97% Affordable Advantage Mortgage

By reducing the upfront cost of homebuying, and providing more flexibility to help you qualify, our Affordable Advantage Mortgage makes it easier to start enjoying the benefits of homeownership.

  • 3% Down Payment
  • Low Fixed Interest Rate
  • Flexible Credit Terms
  • No PMI (Private Mortgage Insurance)

ITIN Affordable Advantage Mortgage

Designed for homebuyers who do not have a Social Security number. Eligible borrowers can apply using their Individual Taxpayer Identification Number (ITIN).

  • Fixed rate
  • 10.01% down payment
  • No private mortgage insurance (PMI)

Simmons Bank Foundation Visa

Build or rebuild your credit history. Consistent, responsible use of a secured credit card can help to boost credit scores with the three major credit bureaus.

  • $0 annual fee{188}
  • Credit line $300 minimum to $5,000 maximum{188}
  • Designed to help establish and strengthen your credit

100% Affordable Advantage Construction Loan

Provides a flexible, cost-effective way for borrowers to finance small repairs and other improvements.

  • Loan Amounts Between $5,000 - $20,000
  • Low Fixed Interest Rate
  • Flexible Credit Terms

Affordable Advantage Credit Builder Loan{227}

Want to improve your credit? This loan is designed to help. It’s a great first step to help you unlock better financial opportunities down the road.

  • $1,000 loan secured by funds in a savings account
  • After the repayment period, you’ll get your full deposit back, plus interest earned

Affordable Advantage Emergency Loan{227}

Don’t lose sleep over surprise expenses. If your family needs to cover emergency expenses like car repairs, minor home repairs or vet or medical bills, this loan can provide the funds you need, conveniently and affordably.

  • Loans from $1,500 to $4,500
  • Competitive fixed interest rate
  • Flexible eligibility requirements

Affordable Advantage Home Improvement Loan

Provides a flexible, cost-effective way for borrowers to make the most of their home by financing small repairs and other improvements.

  • Low amounts between $5,000 - $20,000
  • Low fixed interest rate - Flexible credit terms

Ready to apply?

Applying for a Simmons Bank Affordable Advantage account is simple. When you apply with a Simmons Bank associate, you’ll need to gather a few things:

  • Basic Financial Information
  • Social Security Number
  • Employer Information

We're here to help.

In Person

Stop by a branch to talk with an advisor.

By Phone

Monday–Friday, 7:30 a.m. – 6 p.m. CT
Saturday, 8 a.m. – 12 p.m. CT

  • {97} Benefits and features are subject to customer qualification and approval by Simmons Bank.
  • {166} Subject to credit approval.
  • {119} Income restrictions apply.
  • {75} Transactions that involve a check (including written checks, check by phone or third-party authorizations that come through as a check) will not be honored regardless of account balance. Account transactions are limited to Debit card and ATM transactions, Online and Mobile Bill Pay, Online or Mobile Banking transfers.
  • {188} Annual Percentage Rate (APR) accurate as of June 12, 2024. All APRs are variable. Account subject to credit approval. Variable APR of 28.24%. Cash Advance APR of 29.24%. Cash Advance Fee is the greater of $4 or 3% of the transaction amount. Foreign Transaction Fee of 2% of each transaction, in US Dollars. See the Credit Card Agreement for account terms.

  • {102} Debit Card Fraud Alerts Program: All Simmons Bank debit card accounts are automatically enrolled in the real-time Fraud Alerts Program and are being actively monitored. If fraudulent charges are suspected, the cardholder will receive an introductory text message from Simmons Bank that offers the opportunity to opt out of future alerts. It is the cardholder's responsibility to keep contact information current. Messaging frequency depends on account activity. For more information, text HELP to 32874. To cancel fraud text messaging services at any time, reply STOP to any alert from your mobile device. For Fraud Alerts support, call 1-866-795-9410. By giving us your mobile number, you agree that Fraud Alerts text messaging is authorized to notify you of suspected incidents of financial or identity fraud. Release of Liability: Alerts sent via SMS may not be delivered if phone is not in range of a transmission site, or if sufficient network capacity is not available. Even within coverage, factors beyond the control of the carrier and for which the carrier is not responsible may interfere with message delivery.