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Loans & Lines of Credit


Whether you’re adding on to your home or buying a new one, financing a car, paying for college education, planning a dream vacation, or consolidating existing loans, ACIB has loans with competitive rates and terms to help make your goals a reality.

 

EquiLock Advantage** - Home Equity Line of Credit

If you are looking for a flexible, long-term borrowing solution, our Equilock product may be for you!  ACIB EquiLock gives you the option to lock in all or part of your line of credit balance into fixed rate loan(s), with a fixed monthly payment amount!  The amount of the line of credit that is not used remains available to use like a traditional line of credit , at a low, variable rate.  EquiLock also allows you to unlock any locked rate, releasing the funds back to your line of credit.

 

Benefits:
  • Flexibility - you can manage your payments and interest rate by using either the variable rate line function or the fixed-rate lock option

  • Convenience - you can use one account to meet your borrowing needs.  You can use your line of credit for major purchases, home improvements

  • Control - you can also use the lock feature at any time during the life of your line

  • Access Funds - you will have the ability to access your line of credit with a VISA Line of Credit Access Card                                                                     

 

 Type

Term

APR

Conditions

Line of Credit Portion
 

10 yr. draw

15 yr. maturity 

4.00%

Prime rate (4.00% Floor) adjusted according to

underwriting guidelines.

 

Minimum Loan Amount -$10,000

Fixed Lock Portion
 

24 to 180 months

not to exceed Maturity 

APR- Lower Of 10 Year Monthly CMT Average

 plus 4.50% (currently 7.890%) The maximum

annual percentage rate is 18%. 

-OR-

ACIB Bank's current fixed HE loan rates

 

 .50% discount with autodraft shown above

Last Update: Mon. March 14, 2011

 

Cash-N-More Account Features

  • Borrow funds at any time—up to your pre-approved limit. Pay interest only on the funds you use. As you repay your balance, the funds are available to use again.

  • Overdraft protection. Cash-N-More is linked to your ACIB checking account.

 

Personal Loans

Designed for special needs such as a vacation, education expenses, new furniture, home improvements, and more, your ACIB professional will help you determine which personal loan makes the most sense for you.

 

 

Term
 

 Rate
 

 APR

Minimum- Maximum
 

Loan
 

Conditions
 

 1-5 Years
 

 13.000%

 13.000%

 $2,500- $5,000
 

720 and above

credit score

** Personal Loan Rates are adjusted according to Credit Risk

Example - 48 payments of $214.62 each per $8,000 borrowed @ 13.00%

 
Last Update: on Mon. March 14, 2011

 

New and Used Auto Loans

New Auto Loans

 

Term
 

 Minimum Loan
 

 Rate

 APR

Conditions
 

 3 Years
 

 $3,000

 7.250%

 7.250%

 20% Down Payment
 

 4 Years
 

 $3,000

 7.490%

 7.490%

 20% Down Payment

 5 Years

 $3,000

 7.490%

 7.490%

 20% DownPayment

 6 Years
 

 $3,000

 7.990%

 7.990%

 20% Down Payment
 

 

48 payments of $241.74 each per $10,000 borrowed @ 7.49% APR.

 Last Update: on Mon. March 7, 2011

 

 

Used Auto Loans

 

Model Year
 

Term
 

Rate
 

APR
 

Minimum Loan Amount
 

1996 and older
 

36 months
 

 11.990%

 11.990%

 $3,000

1997-2006

48 months
 

 9.990%

 9.990%

 $3,000

1997-2006

36 months
 

 9.490%

 9.490%

 $3,000

2007-2010

36 months
 

 7.990%

 7.990%

 $3,000

2007-2010

48 months
 

 7.990%

 7.990%

 $3,000

2007-2010

60 months
 

 7.990%

 7.990%

 $3,000

36 payment of $265.68 each per $8,000 borrowed @ 11.99% APR

Last Update: on Mon. March 14, 2011

Other Loans

Our ACIB Mortgage Advisors are ready to answer your mortgage loans or refinancing questions!   

Mortgage Loans

 

All loan rates should be adjusted according to credit risk; rates reflect the autodraft reduction of .50%

For more information on ACIB Checking Products, please contact us or visit one of our financial centers located near you!

                      
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