View the up-to-date rates for our deposit accounts and lending options.
Effective Date: Monday, February 24, 2020
|Down Payment||Term||APR||Monthly Payments |
per $1000 borrowed
|New Cars1||10%||5 Years||4.990%||$18.87|
|Used Cars1||20%||5 Years||4.990%||$18.87|
1 Annual Percentage Rate (APR) is subject to change and requires automatic payment from a Melrose Bank checking account. The interest rate for loans without automatic payment from Melrose Bank Checking Account will be increased .50%. The Maximum loan amount is based on the lower of the purchase price or the NADA retail value for average condition. Used Auto loans at these rates limited to model years 2017 & 2018. Contact us for rates & terms for model year 2015 & 2016 vehicles. Other restrictions may apply.