Loan Rates*

Rates are accurate as of April 1, 2015, but are subject to change thereafter. Why choose a Bangor Federal consumer loan? Because we offer low rates, flexible first payment dates, local service, and automatic payments from an account here or at another financial institution!

       
Loan Type Maximum
Term1
Annual Percentage
Rate (APR)
Payment Per
$1000**
 New Autos (2012 and newer) up to 7 yrs as low as 1.99% $28.694
 Used Autos (2007-2011) up to 6 yrs as low as 2.99% $29.155
 Used Autos (2006 and older) up to 3 yrs as low as 5.99% $30.566
 Recreational Vehicles & Others  up to 10 yrs as low as 3.99% $18.477
 Lifestyle Loan (aka Personal Loan) up to 6 yrs as low as 6.95% $24.058
 Lifestyle Line of Credit2 (aka Personal LOC) N/A 6.75% Pmt=$50/month
or 2% of balance
 Overdraft Line of Protection3 N/A 12.00%  Pmt=$50/month
 Share Secured Loan - 100% up to 5 yrs  3% Above Regular Savings $18.069
 Loan Type Maximum
Term
Annual Percentage
Rate (APR)
Loan to
Value
 Fixed Rate Easy Equity*** up to 20 yrs as low as 2.99%10 <=80%
 Fixed Rate Easy Equity*** up to 20 yrs as low as 3.49%11 80.01-90%
 Fixed Rate Easy Equity*** up to 20 yrs as low as 3.99%12 90.01-100%
 Loan Type Margin Annual Percentage
Rate (APR)
Minimum
Payment
 Home Equity Plus 80% LTV13 +0% 3.25% Interest Only
 Home Equity Plus 90% LTV13 +1% 4.25% Interest Only
       

We also offer great low rates on Mobile Homes in a park or on land as well as Land Loans.  Please call for details!

 

* Membership eligibility is required for all loans. A one-time $5 membership fee will apply for new members.

**  All loans are subject to a minimum payment amount of $50.  Title and UCC fees will be charged when necessary.

*** Property insurance is required.  Property insurance and taxes are not included in the payment.  Loan to value is the percentage of appraised value less first mortgage balance.  Call for an estimate of fees on Fixed Rate Easy Equity Loans.  Rates may adjust weekly and are dependent on lien position.

1 Maximum term is the maximum term available for each loan type.  It does not indicate the term eligible for the as low as rate.

2 Lifestyle line of credit rate is subject to change quarterly and is 3.5% above the Prime Rate as shown in the Wall Street Journal (the 'Index').  Changes in your interest rate will be calculated using the Index figure available 45 days before each Change Date.  This figure rounded to the nearest .25% plus the applicable margin will be your new APR* effective on the next Change Date.  The prime rate was 3.25% APR* as of February 17, 2015.

3 Overdraft Line of Protection advances have a fee of $2.50 per transfer.

4 Term up to 36 months.  Estimated monthly payment is $28.69 per $1,000 borrowed.  We use risk-based pricing to determine the interest rate.  Actual rate will vary based on borrower's credit-worthiness and the selected term.

5 Term up to 36 months.  Estimated monthly payment is $29.15 per $1,000 borrowed.  We use risk-based pricing to determine the interest rate.  Actual rate will vary based on borrower's credit-worthiness and the selected term.

6 Term up to 36 months.  Estimated monthly payment is $30.56 per $1,000 borrowed.  We use risk-based pricing to determine the interest rate.  Actual rate will vary based on borrower's credit-worthiness and the selected term.

7 Term up to 60 months.  Estimated monthly payment is $18.47 per $1,000 borrowed.  We use risk-based pricing to determine the interest rate.  Actual rate will vary based on borrower's credit-worthiness and the selected term.

8 Term up to 48 months.  Estimated monthly payment is $24.05 per $1,000 borrowed.  We use risk-based pricing to determine the interest rate.  Actual rate will vary based on borrower's credit-worthiness and the selected term.

9 Term up to 60 months.  Estimated monthly payment is $18.06 per $1,000 borrowed.  Payment per $1,000 based on Regular Savings rate.

10 Term up to 60 months.  Estimated monthly payment is $18.01 per $1,000 borrowed.  We use risk-based pricing to determine the interest rate.  Actual rate will vary based on borrower's credit-worthiness and the selected term.

11 Term up to 60 months.  Estimated monthly payment is $18.24 per $1,000 borrowed.  We use risk-based pricing to determine the interest rate.  Actual rate will vary based on borrower's credit-worthiness and the selected term.

12 Term up to 60 months.  Estimated monthly payment is $18.47 per $1,000 borrowed.  We use risk-based pricing to determine the interest rate.  Actual rate will vary based on borrower's credit-worthiness and the selected term.

13 The maximum APR is 15.0%. The maximum increase or decrease on any Change Date will be 2%. Any increase or decrease not taken because of this 2% cap may be carried over to the next Change Date. Annual Percentage Rate may vary. Terms up to 180 months are available. Balloon payments do not apply to Home Equity Lines of Credit. Property Insurance is required. Property insurance and taxes are not included in the Minimum Payment amount.  Loan to value is the percentage of appraised value less first mortgage balance.

The rate is adjusted quarterly based on Prime as shown in the Wall Street Journal (the "Index").  Changes in your interest rate will be calculated using the Index figure available 45 days before each Change Date.  This figure rounded to the nearest .25% plus the applicable margin will be your new APR effective on the next Change Date.  The prime rate was 3.25% APR as of February 17, 2015.

Minimum Payment Requirements:  You can obtain credit advances for 3 years.  This period is called the "draw period."  At our option, we may renew or extend the draw period.  After the draw period ends the repayment period will begin.  The length of the repayment period will be 12 years.  You will be required to make monthly payments during both the draw and repayment periods.  During the draw period your monthly payment will equal the finance charges (interest) that accrued on the outstanding balance during the preceding month.   Your payment will include any amounts past due and any amount by which you have exceeded your credit limit, and all other charges.  At the beginning of the repayment period, we will recalculate your payment.  Your payment will be set to repay the balance at the current annual percentage rate over 12 years.  Each time the annual percentage rate changes, we will adjust your payment to repay the balance within the original 12 years.  Your payment will include any amounts past due and any amount by which you have exceeded your credit limit and all other charges.  During the repayment period, your payment will never be less than the smaller of $50.00 or the full amount that you owe.

A one-time processing fee of $250 will be charged following pre-approval of your application for Home Equity Lines of Credit.  There are no minimum, fixed, transaction or activity charges.