Consumer Loans
Personal Loans
| Term |
APR* |
Monthly Payment per $1,000 borrowed |
|
12 months
|
13.000%
|
$89.32
|
|
24 months
|
13.000%
|
$47.54
|
|
36 months
|
13.000%
|
$33.69
|
|
48 months
|
15.000%
|
$27.83
|
|
60 months
|
15.000%
|
$23.79
|
Maximum loan: $10,000. Minimum loan: $1,000.
*Annual Percentage Rate (APR) effective as of 1/16/19 and is subject to change without notice.
Please note: Additional rates and terms available. All loans are subject to credit approval. All rates are subject to change.
Rates for today, 10/9/2024
Auto Loans
New Auto
| Term |
APR* |
Monthly Payment per $1,000 borrowed |
|
36 months
|
5.75%
|
$30.31
|
|
48 months
|
6.500%
|
$23.71
|
|
60 months
|
6.750%
|
$19.68
|
10% downpayment required.
Used Auto (2013-2016)
| Term |
APR* |
Monthly Payment per $1,000 borrowed |
|
36 months
|
6.750%
|
$30.76
|
|
48 months
|
7.500%
|
$24.18
|
90% of Purchase Price or the Finance Value, whichever is less.
*Annual Percentage Rate (APR) effective as of 1/16/19 and is subject to change without notice. All auto loans require a $30.00 Vendors Single Interest (VSI) fee.
Please note: Additional rates and terms available. All loans are subject to credit approval. All rates are subject to change.
HEAT Loans
Micro HEAT Loan
| Term |
APR* |
Monthly Payment per $1,000 borrowed |
|
12 months
|
0.000%
|
$83.33
|
|
24 months
|
0.000%
|
$41.66
|
Minimum loan amount: $500.00. Maximum loan amount $2,000.
HEAT Loan
| Term |
APR* |
Monthly Payment per $1,000 borrowed |
|
12 months
|
0.000%
|
$83.33
|
|
24 months
|
0.000%
|
$41.66
|
|
36 months
|
0.000%
|
$27.78
|
|
48 months
|
0.000%
|
$20.83
|
|
60 months
|
0.000%
|
$16.67
|
|
72 months
|
0.000%
|
$13.89
|
|
84 months
|
0.000%
|
$11.90
|
Minimum loan amount: $2,001.00. Maximum loan amount $15,000.
Expanded HEAT Loan
| Term |
APR* |
Monthly Payment per $1,000 borrowed |
|
12 months
|
0.000%
|
$83.33
|
|
24 months
|
0.000%
|
$41.66
|
|
36 months
|
0.000%
|
$27.78
|
|
48 months
|
0.000%
|
$20.83
|
|
60 months
|
0.000%
|
$16.67
|
|
72 months
|
0.000%
|
$13.89
|
|
84 months
|
0.000%
|
$11.90
|
Minimum loan amount: $15,001.00. Maximum loan amount $25,000.
*The APR is effective as of 10/21/2016 and applies to 1-4 Family Owner Occupied and Non-Owner Occupied Dwellings.
Minimum loan amount for Non-Owner Occupied Dwelling is $5,000.
- Borrower must have received an "energy efficiency review" from a HEAT energy auditor with a recommendation for improvements and an estimate. If you have not, please apply for an East Cambridge Savings Bank Home Improvement loan.
- Subject property must be located in Arlington, Belmont, Cambridge, Chelsea, Everett, Lexington, Malden, Medford, Newton, Revere, Saugus, Somerville, Waltham, Watertown and Winchester MA.
- East Cambridge Savings Bank policy allows for no more than one HEAT loan per customer.
- Closing must take place at an East Cambridge Savings Bank Banking Center.
- Loan request must be in the name of a natural person and not a Trust or LLC.
- Required documentation for HEAT loans: HEAT Intake Form (issued through MassSave); HEAT Authorization Form (issued through MassSave); Pay stubs representing one consecutive month for all applicants; Current Federal Tax returns (all pages, W2s & schedules) if self-employed; Copy of current mortgage statement or bill; Copy of current real estate tax bill; Copy of property deed.
- Payment example: $25,000 loan amount, 0% Annual Percentage Rate (APR), 84 monthly payments of $297.62.
- Other restrictions may apply.