Rates
Deposit rates effective 06-13-2013 Loan rates effective 06-13-2013
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 | 0.20% | 0.20% |
| $10,000.00 - $24,999.99 | 0.15% | 0.15% |
| $1,000.00 - $9,999.99 | 0.10% | 0.10% |
*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 | 91 day | 0.15% | 0.15% |
| $1,000 | 182 day | 0.20% | 0.20% |
| $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% |
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 | 0.25% | 0.25% |
| $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.
Home Equity Loan Rates
TERM |
APR * |
MONTHLY PAYMENT PER $1000 |
12 to 36 months |
2.950% ** |
$29.06 - 36 Months |
37 to 60 months |
3.240% ** |
$18.08 - 60 Months |
61 to 84 months |
3.490% ** |
$13.44 - 84 Months |
85 to 120 months |
3.740% ** |
$10.00 - 120 Months |
121 to 180 months |
4.240% ** |
$7.52 - 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.
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 |
||
| 2011 - 2012 | 6.740% |
48 months | $23.83 |
| 2011 - 2012 | 6.240% |
36 months | $30.53 |
| 2009 - 2010 | 9.50% | 36 months | $32.03 |
| 2007 - 2008 | 10.500% | 24 months | $46.38 |
| 2006 | 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.
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 |
Joe Attinello AVP/Mortgage Loan Officer (cell) 484-239-1743 (office) 484-548-6119 |