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Bank & ATM Locations
Main Street Office
Investment Center
Inside The Bank of Elk River
630 Main Street
Elk River, MN 55330
Phone: 763-241-8568
Fax: 763-441-0847
view more info
630 Main Street
Elk River, MN 55330
Phone: 763-241-8568
Fax: 763-441-0847
view more info
Elk River Coborn's
Elk River Wal-Mart
Maple Grove Wal-Mart
Otsego Office
School Street Office
Zimmerman Office
Rates
VEHICLE LOAN RATES
as of
December 2, 2008
| Model Year | Term | Annual Percentage Rate (APR)* |
Monthly Payment (per $1,000 borrowed) |
| 2008 | 3 years | 5.25% | $30.08 |
| 2007 - 2008 | 5 years | 5.74% | $19.21 |
| 2007 - 2008 | 6 years | 6.24% | $16.69 |
| 2005 - 2006 | 5 years | 6.74% | $19.68 |
| 2003 - 2004 | 4 years | 7.24% | $24.06 |
| 2001 - 2002 | 3 years | 7.74% | $31.21 |
| 2000 & Older | 3 years | 11.75% | $33.09 |
15% down payment required for all vehicles
* Rates listed require automatic payments deducted from your Bank of Elk River account and assume excellent borrower credit history.
* Rates listed require automatic payments deducted from your Bank of Elk River account and assume excellent borrower credit history.
OTHER CONSUMER PURCHASE RATES
as of December 2, 2008
| Description | Term | Annual Percentage Rate (APR)* |
Monthly Payment (per $1,000 borrowed) |
| New1 ATV, Personal Watercraft or Snowmobile | 4 years | 8.00% | $24.41 |
| Used2 ATV, Personal Watercraft or Snowmobile | 3 years | 8.74% | $31.68 |
| New1 Boat | 7 years | 7.24% | $15.21 |
| Used2 Boat | 3 years | 8.00% | $31.33 |
| New1 Recreational Vehicle | 7 years | 7.24% | $15.21 |
| Used2 Recreational Vehicle | 3 years | 8.00% | $31.33 |
| New1 Motorcycle or Tractor | 5 years | 7.24% | $19.91 |
| Used2 Motorcycle or Tractor | 3 years | 8.00% | $31.33 |
1 Down payment of 10% plus tax, title, license and transfer fees required.
2 Down payment of 20% plus tax, title, license and transfer fees required.
* Rates listed require automatic payments deducted from your Bank of Elk River account and assume excellent borrower credit history.
2 Down payment of 20% plus tax, title, license and transfer fees required.
* Rates listed require automatic payments deducted from your Bank of Elk River account and assume excellent borrower credit history.
HOME EQUITY LOAN RATES
as of December 2, 2008
| Loan Amount (based on home's equity) |
Term | Annual Percentage Rate (APR)* |
Monthly Payment (per $1,000 borrowed) |
| Loan to Value equal to or less than 80% | 7 years | 6.74% | $14.97 |
| Loan to Value 81% through 84% | 7 years | 7.49% | $17.28 |
| Loan to Value 85% through 89% | 7 years | 8.49% | $15.83 |
| Loan to Value 90% through 94% | 7 years | 9.49% | $16.34 |
| Loan to Value 95% through 100% | 7 years | 10.24% | $16.73 |
Closing fees generally total $200 to $500.
* Rates listed require automatic payments deducted from your Bank of Elk River account and assume excellent borrower credit history.
* Rates listed require automatic payments deducted from your Bank of Elk River account and assume excellent borrower credit history.
HOME EQUITY LINES OF CREDIT: VARIABLE RATES
as of December 2, 2008
| Line of Credit Amount (based on home's equity) |
Term | Annual Percentage Rate (APR)* |
Floor | Monthly Payment (interest only) (per $1,000 borrowed) |
| Loan to Value Less than 80% | 5 years | Prime** | 5.45% | $4.47 |
| Loan to Value 80% to 89% | 5 years | Prime** + .99% | 6.45% | $5.30 |
| Loan to Value Over 89% | 5 years | Prime** + 1.99% | 7.00% | $5.75 |
Closing fees generally total $200 to $500. There is an annual fee of $25.
* Interest rates and APR's are subject to increase or decrease during the term of the loan. The minimum APR that can apply is the floor, the maximum is 18%. Rates assume excellent borrower
credit history.
** Prime is 4.000% as of 10/31/08.
* Interest rates and APR's are subject to increase or decrease during the term of the loan. The minimum APR that can apply is the floor, the maximum is 18%. Rates assume excellent borrower
credit history.
** Prime is 4.000% as of 10/31/08.
HOME EQUITY LINES OF CREDIT: FIXED RATES
as of December 2, 2008
| Line of Credit Amount (based on home's equity) |
Term | Annual Percentage Rate (APR)* |
Monthly Payment (interest only) (per $1,000 borrowed) |
| Loan to Value less than 80% | 5 years | 6.99% | $5.93 |
| Loan to Value 81% through 89% | 5 years | 7.99% | $6.78 |
| Loan to Value 90% through 100% | 5 years | 9.74% | $8.27 |
Closing fees generally total $200 to $500. There is an annual fee of $25.
Rates are subject to change at any time.
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