Personal Loan Rates

Aug 22, 2017

VEHICLE LOAN RATES

Model Year
Max Term Annual
Percentage
Rate (APR)
Monthly Payment
(per $1,000 borrowed)
2015-2017 New Vehicle 5 years 3.99% $18.41
2015-2017 New Vehicle 6 years 4.24% $15.75
2013-2016 Used Vehicle 5 years 4.24% $18.53
2013-2016 Used Vehicle 6 years 5.24% $16.22
2010-2012 Used Vehicle 4 years 5.74% $23.37
2010-2012 Used Vehicle 5 years 6.49% $19.56
2004-2009 Used Vehicle 3 years 6.99% $30.87
2004-2009 Used Vehicle 4 years 7.49% $24.17


* .25% rate decrease if loan payment is automatically deducted from your Bank of Elk River checking account and assume excellent borrower credit history.


OTHER CONSUMER PURCHASE RATES

Description Term Annual
Percentage
Rate (APR)
Monthly Payment
(per $1,000 borrowed)
New ATV, Personal Watercraft or Snowmobile 5 years 7.49% $24.17
Used ATV, Personal Watercraft or Snowmobile 3 years 7.99% $31.33
New Boat 7 years 5.99% $14.60
Used Boat 7 years 6.49% $19.56
New Recreational Vehicle 7 years 5.99% $14.60
Used Recreational Vehicle 4 years 7.49% $24.17


* .25% rate decrease if loan payment is automatically deducted from your Bank of Elk River checking account and assume excellent borrower credit history.


HOME EQUITY LOAN RATES

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% 5 years 4.99% $18.87
Loan to Value 81% through 85% 5 years 6.99% $19.80

Closing fees generally total $200 to $500.


HOME EQUITY LINES OF CREDIT: VARIABLE RATES

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** 4.45% $3.78
Loan to Value 81% to 85% 5 years Prime** + .99% 6.45% $5.30

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 3.75% as of 02/01/17.


HOME EQUITY LINES OF CREDIT: FIXED RATES

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 4.99% $4.24
Loan to Value 81% through 85% 5 years 6.99% $5.55

Closing fees generally total $200 to $500. There is an annual fee of $25.

Last Rate Change: April 12, 2016