Obtain the supplemental financing you need to make a significant purchase or finance an expense.

Money Market (MMDA)**#^

Home Equity Lines Of Credit

Effective Date: Tuesday, December 11, 2018

Home Equity Lines Of Credit

RateAPR PointsMonthly Payment per $1000 Borrowed
4.99% Wall Street Journal Prime minus 0.26%4.99% Wall Street Journal Prime minus 0.26%0Interest Only - $4.24 for 120 months, followed by principal payments of $5.56 plus period interest for 180 months

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 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 trust review. Requests for properties located outside Essex & Middlesex counties of MA will require an additional $150 closing fee.

Home Equity Loan

Effective Date: Tuesday, December 11, 2018

Home Equity Loan

TypeRateAPRPointsMonthly Payment per /$1000 Borrowed
5 Year Fixed4.75% (5.00% w/o auto pay)4.75% (5.00%)0$18.76 for 60 months ($18.87 for 60 months)
10 Year Fixed5.00% (5.25% w/o auto pay)5.00% (5.25%)0$10.61 for 120 months ($10.73 for 120 months)
15 Year Fixed5.25% (5.50% w/o auto pay)5.25% (5.50%)0$8.04 for 180 months ($8.17 for 180 months)

Note: Discount offered with Beverly Bank checking account automatic monthly debit payment.

Minimum loan amount is $15,000; maximum loan amount is $250,000. 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. Cumulative loan to value (first mortgage plus equity loan) not to exceed 90% of appraised value for one family owner-occupied primary residences including condominiums (Rate premium of 1/4% applies for loan to values in excess of 80%) or 75% for 2-3 family owner occupied residences. 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. Payment examples based on a $100,000 loan. 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. This product only eligible for loans in second lien position.  Automatic monthly debit payment from a Beverly Bank checking account required throughout the life of the loan to maintain the discounted 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 Loan rate and payment as disclosed above in parentheses (discounted APR plus 0.25%).  The new APR will be effective immediately and due for next monthly payment.


*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.

 

Personal Unsecured Loans

Effective Date: Tuesday, December 11, 2018

Personal Unsecured Loans

Note: Discount offered with Beverly Bank checking account automatic monthly debit payment.

Subject to credit approval. Offer subject to change at any time without notice. Annual Percentage Rate is 16.00% with Beverly Bank checking account automatic monthly debit payment  (16.50% without Beverly Bank checking account automatic monthly debit payment.)  Minimum loan amount is $1000 with a term not to exceed 12 months. Monthly Payment is $90.73  per $1000 borrowed for 12 months ($90.97  per $1000 borrowed for 12 months without auto pay) . Maximum loan amount is $5,000 with a term not to exceed 48 months. Monthly Payment is $28.34 per $1000 borrowed for 48 months ($28.60 per $1000 borrowed without auto pay). Other terms and conditions may apply.  Automatic monthly debit payment from a Beverly Bank checking account required throughout the life of the loan to maintain the advertised discounted 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 Personal Unsecured Loan rate and payment as disclosed above in parentheses (discounted APR plus 0.50%).  The new APR will be effective immediately and due for next monthly payment.

Automobile Loans

Effective Date: Tuesday, December 11, 2018

Automobile Loans

Type/YearAPRDown PaymentMaximum TermMonthly Payment per $1,000 Borrowed
New (2018)5.50% (6.00% w/o auto pay)10%60-72 Months$19.10 - $16.34 ( $19.33- $16.57)
New (2018)5.25% (5.75% w/o auto pay)10%36-48 Months$30.08- $23.14 ($30.31-$23.37)
2013/20176.25% (6.75% w/o auto pay)15%48-60 Months$23.60-$19.45 ($23.83-$19.68)
2013/20176.00% (6.50% w/o auto pay)15%24-36 Months$44.32-$30.42 ($44.55- $30.65)

Note:Discount offered with Beverly Bank checking account automatic monthly debit payment.

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 72 months on new automobiles; term not to exceed 60 months on used automobiles. Maximum age of  vehicle is 5 years. 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.   Automatic monthly debit payment from a Beverly Bank checking account required throughout the life of the loan to maintain the advertised discounted 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 Automobile Loan rate and payment as disclosed above in parentheses (discounted APR plus 0.50%).  The new APR will be effective immediately and due for next monthly payment.

Boat/Recreational Vehicle Loans

Effective Date: Tuesday, December 11, 2018

Boat/Recreational Vehicle Loans

Note: Discount offered with Beverly Bank checking account automatic monthly debit payment.

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% with Beverly Bank checking account automatic monthly debit payment (7.50% without Beverly Bank checking account automatic monthly debit payment). Monthly Payment is $15.09 per $1000 borrowed with auto pay ($15.34 per $1000 borrowed without auto pay) 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. Automatic monthly debit payment from a Beverly Bank checking account required throughout the life of the loan to maintain the discounted 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 Recreational Vehicle/Boat Loans rate and payment as disclosed above in parentheses (discounted APR plus 0.50%).  The new APR will be effective immediately and due for next monthly payment.)