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Current Rates                 

Annual Percentage Yield (APY) and Annual Percentage Rate (APR) effective as of  6-9-17 for all rates and subject to change.

Passbook Savings

Individual Retirement Accounts

Statement Savings

Automobile Loans

Christmas Clubs

Personal Unsecured Loans

Now Checking Account

Recreational Vehicle Loans

Money Market (MMDA)

Home Equity Loans

Certificate of Deposit

Home Equity Lines Of Credit

               Home Equity Lines of Credit Special

Passbook Savings**

TermAPYInterest RateMinimum To OpenMinimum Daily Balance to Earn APY
0.05%0.05%$1$10

Statement Savings**

TermAPYInterest RateMinimum To OpenMinimum Daily Balance to Earn APY
0.05%0.05%$1$10

Christmas Clubs**

TermAPYInterest RateMinimum To OpenMinimum Daily Balance to Earn APY
0.05%0.05%$1$10

Now Checking Account**

TermAPYInterest RateMinimum To OpenMinimum Daily Balance to Earn APY
0.05%0.05%$10$10

Money Market (MMDA)**#

TermAPYInterest RateMinimum To OpenMinimum Daily Balance to Earn APY
0.10%0.10%$2,500($10 up to but not exceeding $2,499.99)
0.20%0.20%$2,500($2,500 and above but not exceeding $24,999.99)
0.25%0.25%$2,500($25,000 and above but not exceeding $99,999.99)
0.50%0.50%$2,500($100,000 and above)

Home Equity Lines Of Credit Special

TypeRateAPRPointsMonthly Payment per $1,000 Borrowed
Home Equity Line of Credit Special1.99% for 12 months, then Wall Street Journal Prime minus 0.51% thereafter (currently 3.74%)1.99% first 12 months, Wall Street Journal Prime minus 0.51% thereafter (currently 3.74%)0Interest Only - $1.69 for 12 months, followed by $2.96 for 108 months, followed by principal plus period interest - $8.74 to $5.58 for 180 months
Note:
Automatic monthly debit payment from Beverly Bank checking account required, initial draw of $25,000 at closing.
The Annual Percentage Rate (APR) and rate is 1.99% for the first 12 months.  Thereafter, the APR and rate are variable. APR and rate are based on the highest Prime Lending Rate published in the Wall Street Journal (WSJ) minus 0.51% subject to an APR floor of 1.99% during the first 12 months and then 2.50% thereafter. Maximum APR is 18.00% and the APR may vary. Payments are interest only monthly based on the outstanding balance for the first 10 years and then principal plus period interest for the next 15 years. Minimum loan amount is $25,000; maximum loan amount is $500,000. Loan subject to credit approval. Offer subject to change at any time without notice. Product available to new Beverly Bank home equity line of credit customers or existing home equity line of credit customers whose line is in repayment period only. Offer valid for 1-3 family, owner occupied properties including condominiums as well as single unit vacation homes. Cumulative loan to value (first mortgage plus equity line) not to exceed 80% of appraised value for one family owner-occupied primary residences (including condominiums) for requests up to $250,000 or 75% for request over $250,000 to $500,000 For 2-3 family owner occupied residences maximum cumulative combined loan to value not to exceed 75% for requests up to $250,000 or 70% for requests over $250,000 to $500,000. Single family vacation homes are restricted to a maximum loan-to-value ratio of 70% for requests up to $250,000. Annual fee of $50 applies. Full appraisal required for request over $100,000 at applicants’ expense. Applicant responsible for $250 closing fee*. Consult a tax advisor regarding the tax deductibility of interest and charges. Monthly payment examples do not include escrow amounts, real estate taxes and/or insurance, if applicable. This may increase the payment amount. Property insurance is required and flood insurance may be required.  Initial draw of $25,000 at closing and an automatic monthly debit payment from a Beverly Bank checking account required throughout the life of the loan to maintain the advertised rate.   If the borrower cannot or does not comply to the automatic monthly payment debit from a Beverly Bank checking account requirement at any time during the life of the loan, the loan’s rate will revert to standard Home Equity Line rate and payment as disclosed on the loan note (WSJ prime minus 0.26%, see disclosure for standard Home Equity Line below.  New APR effective immediately and due for next monthly payment.)  Other terms and conditions may apply. For additional information, ask for a copy of our “Important Terms of our Home Equity Line of Credit Disclosure.” 

*The Bank will pay additional costs above the $250 fee which include appraisal/evaluation fee (for loan request of $100,000 or less), credit report, recording costs and flood certification. Other fees such as fees to record old discharges, recording of a power of attorney, complex title reviews will result in additional costs to be paid by borrower. Property held it trust will require a borrower paid fee of $150 for attorney trust review. Requests for properties located outside Essex & Middlesex counties of MA will require an additional $150 closing fee.

Recreational Vehicle Loans

Note: Subject to credit approval. Offer subject to change at any time without notice. Minimum loan amount is $5000. Maximum loan amount is $50,000. Term not to exceed 84 months. Other terms and conditions may apply. Annual Percentage Rate is 7.00%. Monthly Payment is $15.09 per $1000 borrowed for 84 months. Financing is up to the lesser of 80% of the contract sales price or NADA (National Automobile Dealers Association) average retail value. VSI insurance required.

Certificate of Deposit

TermAPYInterest RateMinimum To OpenMinimum Daily Balance to Earn APY
91 Day*0.15%0.15%$500$500
6 Month*0.30%0.30%$500$500
9 Month*0.40%0.40%$500$500
11 Month*0.40%0.40%$500$500
12 Month*0.50%0.50%$500$500
15 Month*0.55%0.55%$500$500
18 Month*0.60%0.60%$500$500
20 Month*0.75%0.75%$500$500
24 Month*0.75%0.75%$500$500
36 Month*2.10%2.08%$500$500
48 Month*2.30%2.28%$500$500
60 Month*2.55%2.52%$500$500

Individual Retirement Accounts

TermAPYInterest RateMinimum To OpenMinimum Daily Balance to Earn APY
IRA Savings0.05%0.05%$1$10
91 Day*0.15%0.15%$500$500
6 Month*0.30%0.30%$500$500
9 Month*0.40%0.40%$500$500
11 Month*0.40%0.40%$500$500
12 Month*0.50%0.50%$500$500
15 Month*0.55%0.55%$500$500
18 Month*0.60%0.60%$500$500
20 Month*0.75%0.75%$500$500
24 Month*0.75%0.75%$500$500
36 Month*2.10%2.08%$500$500
48 Month*2.30%2.28%$500$500
60 Month*2.55%2.52%$500$500
Note:

*A penalty will be imposed for early withdrawals. Early withdrawals will be subject to substantial penalty as required by law. Customers may request further information from one of our Customer Service Representatives concerning the fees and terms applicable to these accounts. Fees may reduce earnings.

** The interest rate and annual percentage yields may change after account opening. Fees may reduce earnings.

#There is a $2,500 minimum to open an MMDA Account. If the balance after opening drops below $2,500, see above for appropriate rates. Fees may reduce earnings.


Automobile Loans

Type/YearAPRDown PaymentMaximum TermMonthly Payment per $1,000 Borrowed
New (2016)5.99%10%60-84 Months$19.33 - $14.60
New (2016)5.50%10%36-48 Months$30.20-23.26
2011/20156.25%15%60-72 Months$19.45-$16.69
2011/20155.75%15%24-48 Months$44.21-$23.37
Note: Subject to credit approval. Offer subject to change at any time without notice. Minimum loan amount is $5000. Maximum loan amount is $50,000. Term not to exceed 84 months on new automobiles; term not to exceed 72 months on used automobiles. Other terms and conditions may apply. Financing for new cars is up to 90% of the lesser of the contract sales price or the NADA (National Automobile Dealers Association) average retail value and up to 85% for used cars. VSI insurance required. Maximum mileage: new automobile is 10,000 miles and used automobile is 85,000.

Personal Unsecured Loans

Note: Subject to credit approval. Offer subject to change at any time without notice. Annual Percentage Rate is 17.00%. Minimum loan amount is $1000 with a term not to exceed 12 months. Monthly Payment is $91.20 per $1000 borrowed for 12 months. Maximum loan amount is $5,000 with a term not to exceed 48 months. Monthly Payment is $28.86 per $1000 borrowed for 48 months. Other terms and conditions may apply.

Home Equity Loans

TypeRateAPRPointsMonthly Payment per /$1000 Borrowed
5 Year Fixed5.000%5.615%0$18.87 for 60 months
10 Year Fixed5.500%5.827%0$10.85 for 120 months
15 Year Fixed5.750%5.982%0$8.30 for 180 months
Note: Note: The Annual Percentage Rate (APR) and rate is variable. APR and rate are based on the highest Prime Lending Rate published in the Wall Street Journal (WSJ) minus 0.26% subject to an APR floor of 2.50%. Maximum APR is 18.00% and the APR may vary. Payments are interest only monthly based on the outstanding balance for the first 10 years and then principal plus period interest for the next 15 years. Minimum loan amount is $20,000; maximum loan amount is $500,000. Loan subject to credit approval. Offer subject to change at any time without notice. Offer valid for 1-3 family, owner occupied properties including condominiums as well as single unit vacation homes. Cumulative loan to value (first mortgage plus equity line) not to exceed 80% of appraised value for one family owner-occupied primary residences (including condominiums) for requests up to $250,000 or 75% for request over $250,000 to $500,000 For 2-3 family owner occupied residences maximum cumulative combined loan to value not to exceed 75% for requests up to $250,000 or 70% for requests over $250,000 to $500,000. Single family vacation homes are restricted to a maximum loan-to-value ratio of 70% for requests up to $250,000. Annual fee of $50 applies. Full appraisal required for request over $100,000 at applicants’ expense. Applicant responsible for $250 closing fee*. Consult a tax advisor regarding the tax deductibility of interest and charges. Monthly payment examples do not include escrow amounts, real estate taxes and/or insurance, if applicable. This may increase the payment amount. Property insurance is required and flood insurance may be required. Other terms and conditions may apply. For additional information, ask for a copy of our “Important Terms of our Home Equity Line of Credit Disclosure.”

*The Bank will pay additional costs above the $250 fee which include appraisal/evaluation fee (for loan request of $100,000 or less), credit report, recording costs and flood certification. Other fees such as fees to record old discharges, recording of a power of attorney, complex title reviews will result in additional costs to be paid by borrower. Property held it trust will require a borrower paid fee of $150 for attorney. Requests for properties located outside Essex & Middlesex counties of MA will require an additional $150 closing fee.

Home Equity Lines Of Credit

TypeRateAPRPointsMonthly Payment per $1000 Borrowed
0
Home Equity Line of Credit3.99% Wall Street Journal Prime minus 0.26%3.99% Wall Street Journal Prime minus 0.26%0Interest Only - $3.39 for 120 months, followed by principal payments of $5.56 plus period interest for 180 months
Note: Note: The Annual Percentage Rate (APR) and rate is variable. APR and rate are based on the highest Prime Lending Rate published in the Wall Street Journal minus .26% subject to an APR floor of 2.50%. Maximum APR is 18.00% and the APR may vary. Payments are interest only monthly based on the outstanding balance for the first 10 years and then principal and interest for the next 15 years. Minimum loan amount is $20,000; maximum loan amount is $500,000. Loan subject to credit approval. Offer subject to change at any time without notice. Offer valid for 1-3 family, owner occupied properties including condominiums as well as single unit vacation homes. Cumulative loan to value (first mortgage plus equity line) not to exceed 80% of appraised value for one family owner-occupied primary residences (including condominiums) for requests up to $250,000 or 75% for request over $250,000 to $500,000 For 2-3 family owner occupied residences maximum cumulative combined loan to value not to exceed 75% for requests up to $250,000 or 70% for requests over $250,000 to $500,000. Single family vacation homes are restricted to a maximum loan-to-value ratio of 70% for requests up to $250,000. Annual fee of $50 applies. Full appraisal required for request over $100,000 at applicants’ expense. Applicant responsible for $250 closing fee*. Consult a tax advisor regarding the tax deductibility of interest and charges. Property insurance is required. Other terms and conditions may apply. For additional information, ask for a copy of our “Important Terms of our Home Equity Line of Credit Disclosure.”

*The Bank will pay additional costs above the $250 fee which include, appraisal/evaluation fee (for loan request of $100,000 or less), credit report, recording costs and flood certification. Other fees such as fees to record old discharges, recording of a power of attorney, complex title reviews will result in additional costs to be paid by borrower. Property held it trust will require a borrower paid fee of $150 for attorney trust review. Requests for properties located outside Essex & Middlesex counties of MA will require an additional $150 closing fee.


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