Down payment is exclusive of sales tax and any rebate. On used autos the maximum loan will be the lesser of 90% of net sale price or 90% of NADA book value. Minimum loan: $2,000. On Line Loan Application Loan Calculator
A 1/4% rate reduction is granted for automatic transfer payment from a checking account at this bank. Transfer agreement must be part of application process and cannot be added after the loan is disbursed.
Unsecured Consumer Loans
Interest Rate
Estimated APR
Term
14.00%
14.00%
Up to 36 months
14.25%
14.25%
37 month - 60 months
Maximum Loan Amount: $10,000.00 Minimum Loan Amount: $1,000.00
May be requested for any worthwhile purpose. A 1/4% rate reduction is granted for automatic transfer payment from a checking account at this bank. On Line Loan Application Loan Calculator
Overdraft Checking
Interest Rate
Estimated APR
Overdraft Transfers
11.00% Floor: 10.50% Ceiling: 16.00%
11.00%
Multiples of $100.00
Maximum Line of Credit: $5,000.00 Minimum Line of Credit: $1,000.00 This is a Revolving Line of Credit. A statement will be rendered monthly. The minimum payment will be greater of 1/36 principal or $50.00 plus interest on the outstanding balance.
FREEDOM LOAN PROGRAM
The New Jersey Freedom Loan Program is designed to offer all eligible military personnel and their families, a five-year unsecured loan of up to $10,000. Principal and interest will be deferred during the first year of deployment. The maximum interest rate for these loans is 6 percent.
Student Loans
Stafford Loan
Variable Interest Rate
4.70%
Cap:
8.25%
Borrowing Limits, Per Annum
Undergraduates
Amount
First Year:
$2,625
Second Year:
$3,500
Third and Fourth Years:
$5,000
Graduates/Professionals:
$8,500
Applicant must meet the college/university and the NJHEAA eligibility requirements. Application forms provide a complete disclosure of loan aggregate limits, needs, analysis, repayment requirement, and procedures for submitting an application to your school and the Bank.
Plus Loans
Variable Interest Rate
6.10%
Cap:
9.00%
These loans are for the parents of dependent students. The first payment is due within 60 days of disbursement. The variable interest rate for any calendar year will be the average of the bond equivalent rate of the 52 week Treasury Bill auction held prior to June 1st of each year plus 3.10%. The new rate for all loans will be effective on July 1st of each year. Borrowing Limits: To be determined by educational institution.
