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Auto Loan Rates

View the up-to-date rates for our deposit accounts and lending options.

Effective Date: Tuesday, October 17, 2017

Down PaymentTermAPRMonthly Payments
per $1000 borrowed
New Cars110%5 Years4.990%$18.87
Used Cars120%5 Years4.990%$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 2014 & 2015. Contact us for rates & terms for model year 2012 & 2013 vehicles.  Other restrictions may apply.