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Rates

 

Deposit rates effective  10-23-2014 Loan rates effective  10-23-2014

Rates subject to change without notice.

 

 

49 Plus, Interest and Relationship Checking Tiered Interest Rates

 

Minimum balance to obtain APY* APY* Interest Rate
Below $1000.00 .00% .00%
$1000.00 - $9,999.99 .05% .05%
$10,000 - $49,999.99 .05% .05%
$50,000 or more .05% .05%

 

*Annual Percentage Yield

 

Rates subject to change without notice. See above for effective date of rates. Rates may change after account opening. Fees could reduce the earnings on the account

Business Interest Checking

 

Minimum balance to obtain APY* APY* Interest Rate
$1,000 or more 0.05% 0.05%

 

*Annual Percentage Yield

 

Rates subject to change without notice. See above for effective date of rates. Rates may change after account opening. Fees could reduce the earnings on the account.

Super Money Market Tiered Interest Rates

 

Minimum balance to obtain APY* APY* Interest Rate
$85,000.00 OR MORE 0.25% 0.25%
$50,000.00 - 84,999.99 0.20% 0.20%
$25,000.00 - $49,999.99 0.15% 0.15%
$10,000.00 - $24,999.99 0.10% 0.10%
$1,000.00 - $9,999.99 0.08% 0.08%

 

*Annual Percentage Yield

 

Rates subject to change without notice. See above for effective date of rates. Rates may change after account opening. Fees could reduce the earnings on the account.

Statement Savings and Club Rates

 

Minimum balance to obtain APY* APY* Interest Rate
All balances .05% .05%

 

*Annual Percentage Yield

 

Rates subject to change without notice. See above for effective date of rates. Rates may change after account opening. Fees could reduce the earnings on the account.

Certificates of Deposit Rates - Regular CDs

 

Minimum balance to obtain APY* TERM APY* Interest Rate
$1,000 3 months 0.15% 0.15%
$1,000 6 months 0.15% 0.15%
$1,000 9 month 0.20% 0.20%
$1,000 12 month 0.25% 0.25%
$1,000 18 month 0.30% 0.30%
$1,000 24 month 0.35% 0.35%
$1,000 30 month 0.40% 0.40%
$1,000 36 month 0.50% 0.50%
$1,000 48 month 0.75% 0.75%
$1,000 60 month 1.00% 1.00%


*Annual Percentage Yield

 

Rates subject to change without notice. See above for effective date of rates.

A penalty may be imposed for withdrawals made or closing the account  prior to maturity.

Certificates of Deposit Rates - Jumbo CDs

 

Minimum balance to obtain APY* TERM APY* Interest Rate
$100,000 1 month 0.10% 0.10%
$100,000 2 month 0.15% 0.15%
$100,000 3 month 0.20% 0.20%
$100,000 6 month 0.20% 0.20%
$100,000 9 month 0.25% 0.25%
$100,000 12 month 0.30% 0.30%
$100,000 18 month 0.35% 0.35%
$100,000 24 month 0.40% 0.40%
$100,000 30 month 0.45% 0.45%
$100,000 36 month 0.55% 0.55%
$100,000 48 month 0.80% 0.80%
$100,000 60 month 1.05% 1.04%

 

*Annual Percentage Yield

 

Rates subject to change without notice. See above for effective date of rates.

A penalty may be imposed for withdrawals made or closing the account  prior to maturity.

Adjustable Rate Mortgage (ARM) **

 

LOAN TYPE NOTE RATE POINTS APR* MONTHLY PAYMENT
PER $1,000
3/1 ARM 1 2.250% 1 2.896% 3.82
3/1 ARM 1 2.500% 0 2.872% 3.95
5/1 ARM 2 3.000% 1 3.078% 4.22
5/1 ARM 2 3.375% 0 3.131% 4.42

 

* APR = Annual Percentage Rate Based on $100,000 mortgage closing on 15th.

**  Examples assume 30-year amortization period.

(1)  Interest rate is fixed for the first three years, adjusts annually thereafter.

(2)  Interest rate is fixed for the first five years, adjusts annually thereafter.

Residential Mortgage Rates

 

Merchants Bank offers a variety of mortgage terms to fit every need. Because mortgage rates and terms are continuously changing, contact one of our Mortgage Loan Officers to learn more about our current great rates and programs. Evening and weekend appointments available upon request.

 

Michael G. Boulos

AVP/Mortgage Loan Officer

(cell) 610-509-4577

(office) 610-253-5117

mboulos@merchantsbangor.com

Joe Attinello

AVP/Mortgage Loan Officer

(cell) 484-239-1743

(office) 484-548-6119

jattinello@merchantsbangor.com

Home Equity Loan Rates**

 

TERM

APR *

MONTHLY PAYMENT PER $1000

12 to 36 months

3.990% **

$29.52 - 36 Months

37 to 60 months

4.240% **

$18.53 - 60 Months

61 to 84 months

4.490% **

$13.90 - 84 Months

85 to 120 months

4.740% **

$10.48 - 120 Months

121 to 180 months

5.240% **

$8.03 - 180 Months

 

Merchants Bank also offers home equity loan financing on owner-occupied, 1-4 unit residential properties.

 

*APR = Annual Percentage Rate. APRs disclosed above assume that monthly payments are automatically deducted from a Merchants Bank deposit account. If payments are not or can not be deducted from such a deposit account, the APR will be 0.25% higher than above. Rates subject to change without notice. See above for effective date of rates.

 

** HEL rates listed above are for 1-2 unit, owner-occupied residential properties. Owner-occupied, 3-4 unit properties will carry a 1.0% premium rate.

Home Equity Line of Credit Rates

 

TYPE

TERM

APR*

Home Equity Line of Credit

Revolving

3.99%

 

*APR = Annual Percentage Rate. The APR disclosed above assumes that monthly payments are automatically deducted from a Merchants Bank deposit account. The APR without automatic payment will be 4.00%. The APR is based on the Prime Rate as published in the Wall Street Journal +.50% with automatic payment or +.75% without automatic deduction, may vary monthly, not to fall below 3.99% and will not exceed the maximum of 18%.

 

All Rates and APRs are subject to final credit approval.

Consumer Installment Loan Rates - Automobile

 

TYPE

APR *

MAXIMUM TERM

MONTHLY PAYMENT PER $1000

New

5.490%

36 months

$30.19

New

5.740%

48 months

$23.37

New

6.240%

60 months

$19.44

Used

See Below

   
2012 - 2013

6.740%

48 months $23.83
2012 - 2013

6.240%

36 months $30.53
2010 - 2011 9.50% 36 months $32.03
2008 - 2009 10.500% 24 months $46.38
2007 11.000% 24 months $46.61

 

*APR = Annual Percentage Rate. APRs disclosed above assume that monthly payments are automatically deducted from a Merchants Bank deposit account. If payments are not or can not be deducted from such a deposit account, the APR will be 0.25% higher than above. Rates vary depending on year of vehicle and term of loan. Rates subject to change without notice. See above for effective date of rates.

Consumer Installment Loan Rates - Personal

 

TYPE

APR *

MAXIMUM TERM

MONTHLY PAYMENT PER $1000

Unsecured 11.00% 24 Months $46.61

 

*APR = Annual Percentage Rate. APRs disclosed above assume that monthly payments are automatically deducted from a Merchants Bank deposit account. If payments are not or can not be deducted from such a deposit account, the APR will be 0.25% higher than above. Maximum loan amount is $5,000.00. Rates subject to change without notice. See above for effective date of rates. Rates will vary based on credit score and credit application.

 

All Rates and APRs are subject to final credit approval.