Consumer Loan Rates Page
Auto Rates as low as 3.74%* APR Apply For A Consumer Loan
Montgomery Bank can lend you the money to get the transportation you want, whether your heart is set on a brand new automobile or a previously owned vehicle. We'll do our very best to make the road to securing a loan a smooth one. Here's what we'll need to give you a quick, straightforward answer:
- A completed Consumer Loan Application - completed, signed and dated.
- Evidence of earnings (copy of last year's federal tax return or current pay stubs; if self-employed, copies of last two years' federal tax returns)
- Purchase order from auto dealer
- Name, address, and a phone number of insurance agent
- Documentation of monthly rent payment if no mortgage payment.
Home Equity Lines of Credit
Special Introductory Rate of 2.99% for 6 months with no closing costs**!
Put your home to work for you! Once you have built up equity in your home, you may be able to use it for items such as:
- Debt Consolidation
- Home Improvements
- College Tuition
Contact a Personal Banker today for more information or apply online!
*Annual Percentage Rate (APR) is based on (for example) a loan of $25,000 with a repayment term of 72 months, an interest rate of 3.74% and a $75 origination fee. 72 monthly payments of $389.31. Stated 3.840% APR is based on a new purchase of 2017-2018 models. Other rates are available for other model years and refinances. Subject to credit approval. Other terms and conditions may apply. Rates are effective January 5, 2018 and are subject to change. Automatic payment debit from Montgomery Bank deposit account is required to get the stated rate.
**Home equity line of credit is available for single-family residential, owner-occupied properties. No annual fee and no closing costs are charged for lines of credit of at least $10,000 and up to $100,000, with a combined loan exposure of less than $250,000 and a maximum combined loan to value of 90% or less. Different rates, terms and conditions may apply for applicants not meeting these requirements or if Bank is unable to determine an acceptable market value of the property. The annual percentage rate (APR) is fixed for 6 months at 2.99% and then adjusts monthly to Prime + 0.50%, as published in The Wall Street Journal. Prime was 4.75% as of 03/21/18. This offer is for new home equity lines and subject to change. There is no limit on the amount by which the rate can change each month; however, the maximum lifetime APR is 20.04%. Published APR includes a 0.25% discount for maintaining an automatic payment from a Montgomery Bank deposit account. The HELOC is structured with a 20-year term. The first 10 years has a revolving line of credit feature with interest only payments and the last ten years is a fully amortized loan with the same variable rate. Property insurance is required; if the collateral is determined to be in an area having special flood hazards, flood insurance will be required as well. Consult your tax advisor regarding the deductibility of interest. Offer is subject to standard credit underwriting and approval. Rate and APR are subject to change without notice.