Home Equity Line of Credit

Have access to the supplemental cash you need to finance home repairs, afford large expenses or cover emergency costs. A Home Equity Line of Credit (HELOC) is a flexible and affordable financing option that lets you use and repay up to an approved amount for the entire duration of the given draw period.

  • Revolving line of credit - pay back only what you borrow and funds will become available for reuse
  • Variable interest rate tied to the Prime Rate*
  • 120 month draw period - after the draw period no further borrowings will be permitted and the outstanding balance, plus accrued interest, must be paid off over a 180 month period
  • Interest may be tax-deductible**

Fees apply. Loan is subject to credit approval. Insurance is required. Other terms and conditions may apply. Terms may change without notice.

* As reported by The Wall Street Journal.

** Consult your tax advisor.

Home Equity Loan

Obtain the funds needed to manage a significant cost by borrowing from your home's equity. A Home Equity Loan provides a lump sum of money, and a fixed interest rate will secure a fixed payment for the term of the loan.

  • A one-time loan for a specific amount that you receive in a lump sum
  • Fixed rate that never changes
  • Fixed monthly payments for the life of the loan based on the amount borrowed and interest rate
  • Various loan term durations available
  • Interest may be tax-deductible*

Fees apply. Loan is subject to credit approval. Insurance is required. Other terms and conditions may apply. Terms may change without notice.

* Consult your tax advisor.

Personal Loans

When it comes to affording an expense, you need options that align with the amount you want to borrow and the required timeframe. Secured and unsecured fixed-rate loan options are available to help you pay for consumer-related purchases over time.

  • Loan amounts from $1,000 to $5,000
  • Fixed rate
  • Fixed repayment terms

Collateral Loans

Improve your credit and continue to earn interest on your deposit while borrowing from your funds. Borrow against your passbook savings, statement savings or certificate of deposit at a low rate.

  • Loan amounts up to 95% of your available deposit account balance
  • Early termination penalties still may apply on applicable accounts

Overdraft Line of Credit

An Overdraft Line of Credit provides the safety net you may need if an overdraft occurs. When connected to your checking account, it will automatically advance funds (up to your available credit line) when you make a withdrawal or write a check for more than your available checking account balance.

  • Loan amounts from $500 to $5,000
  • 18% APR
  • No fee

Subject to credit approval. Other terms and conditions may apply.

Auto Loans

Are you in the market for a car, truck or SUV? Whether new or used, we can provide financing for the vehicle that meets your mileage, safety and style requirements. Once the vehicle is yours, you can conveniently manage payments with our auto pay option from your Beverly Bank account of choice.

  • Competitive rates and extended terms are available on new vehicles
  • Age of car restrictions apply for used vehicles
  • Insurance is required

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