Interest Rates on Consumer Loans
as of December 12, 2018
HELOCK ~ A Home Equity line of credit with a LOCKing rate
|During the Draw Period, this Plan contains an option to convert an amount up to the entire principal balance outstanding at any time from the variable rate to a fixed interest rate (“LOCK”). The plan could have different balances at different fixed interest rates as well as have a balance under the original variable rate terms. APR on fixed rate portions may be higher than variable rate.|
|You can exercise the option to convert to a LOCK only during the Draw Period. You may not exercise the option to LOCK if the credit limit will be exceeded.|
|There is a $100 fee for each LOCK established. The fee is waived if establishing a LOCK at the time of account opening.|
|The fixed interest rate for each LOCK will be based on the Bank’s prevailing fixed home equity installment loan interest rates at the time of your request, excluding any promotional rates that may be in effect at the time of the LOCK.|
|For each LOCK, you will be required to sign a Sub-Loan Conversion Agreement, the original principal amount must be at least $5,000, and the term cannot exceed ten years. You may have a maximum of three LOCKs outstanding at any time.|
|Current APR*** is 5.50% and subject to change after the account is opened.|
***APR is based on the Wall Street Journal Prime rate plus .25%. APR may adjust monthly. Minimum APR is 4.00%; maximum APR is 18.00%. Payment must be automatically deducted from a York Traditions Bank deposit account, assumes a maximum combined loan to value of 80%, and line amount not less than $50,000.
Home Equity Loans
*Stated APR is for loans secured by a 1st or 2nd lien on the borrower’s principal dwelling, the maximum combined loan to value is 80%, and the payment is automatically deducted from a York Traditions Bank deposit account. For loans secured by a 1st lien, the payment amount does not include amounts for taxes and insurance premiums. The actual payment obligation could be greater.
**Payment amount is for $1,000 borrowed. Minimum Loan amount is $5,000.
Other rates and terms available.
Contact your nearest branch for additional loan information.