Eastern Bank Installment Products offered through The Independent Advantage® Loan Program "At a Glance"
RATES EFFECTIVE 02/14/02
New Auto |
Used Auto & all refinances |
Home Improvement Loan |
Unsecured Personal Loans |
New
Boat New RV |
Used
Boat Used RV (Up to 14 years old) |
|
| Loan Amt. Minimum | $6,500 | $6,500 | $6,500 | $6,500 | $6,500 | $6,500 |
| Loan Amt. Maximum | 90% MSRP | 90% NADA Retail | $15,000 | $7,500 | 90% MSRP $50,000 or Greater See Terms | 90% NADA Retail $50,000 or Greater See Terms |
| Terms | 24-60 months | 24-48 months | 84 months maximum | 24-48 months | up to 120 months
fixed Loans over $50,000 up to 15 Year Amortization- 7.99%APR first Five years then Prime +2% adjusted at Year 6 and Year 11 |
up to 60 months Loans over $50,000 up to 15 Year Amortization- 8.49%APR first Five years then Prime +2% adjusted at Year 6 and Year 11 |
| Collateral | Auto Title | Auto Title | UCC Filing | None | Title and/or UCC Filing | Title and/or UCC Filing |
| Collateral Insurance | Full insurance auto coverage with a maximum $500 deductible | Full insurance auto coverage with a maximum $500 deductible | None | None | Full coverage with a maximum $500 deductible | Full coverage with a maximum $500 deductible |
| Rate Type | Fixed | Fixed | Fixed | Fixed | Fixed | Fixed |
| APR | 6.99% APR | 0-3
Years 7.50%
APR 4-6 Years 7.75% APR |
8.99% APR | 13.99 % APR | 7.99% APR | Up
to 11 Years Old 8.49% APR |
| Closing Fees | $25 VSI | $25 VSI | $20
UCC-1(one) Plus $20 MA Surcharge |
N/A | $
20@UCC-1(MA) $25 VSI |
$ 20
UCC-1(MA) $25 VSI |
| Requirements | Sales Agreement or Original Title, Insurance Binder @ Closing, IncomeVerification & ID at closing (Copy for File) | Sales Agreement or Original Title, Insurance Binder @ Closing, IncomeVerification & ID at Closing (Copy for File) Max 70,000 Miles | Need Contractor
Estimates for loan amount . Income Verification & ID @ closing. (Copy for file) Funds disbursed fourth business day after closing. |
Purpose of Loan
Required Income & ID at closing (copy for file)
|
Sales Agreement and/or Survey Required. Boats 26ft. and over may require marine documentation. Call for specific details. Insurance Binder/Income&ID at closing. ( please copy for file) | Sales Agreement and/or Survey Required. Boats 25ft. and over may require marine documentation. Call for specific details. Insurance Binder/Income&ID at closing. ( please copy for file)Refer to Additional Products Section |