The Lenox National Bank 7 Main Street, Lenox, MA 01240; telephone 413-637-0017
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Loan rates

Residential/Owner Occupied | Residential/Second Home | Consumer Credit | Home Equity Line of Credit

 

Consumer Credit
Loan Interest Rate Guidelines - Effective: July 27, 2010

SECURED LOANS

Automobiles

YEAR
 TERM
RATE
PAYMENT PER THOUSAND
New 2010 & 2009 up to 60 Months 6.75%*
$19.68
Used 2008 & 2007 up to 60 Months 7.00%*
$19.80
Used 2006 up to 60 Months 725%*
$19.92
Used 2005 up to 60 Months 7.50%*
$20.04
Used 2004 up to 48 Months 7.75%*
$24.29
Used 2003 up to 36 Months 8.00%*
$31.33
Used 2002 & Older up to 36 Months 8.25%*
$31.45

 

* Based on Customer relationship and NADA Guidelines.

You may reduce the rate by .25% if the payment is made automatically from your Lenox National Bank Checking or Savings Account.

LNB Passbooks & Certificates
2.00% - 4.00% over interest being paid on account
 

Other Passbooks & Certificates
8.50% - 18.00% - depending on Customer relationship
 

Good Stock & Bonds
Prime to a maximum rate of 18.00% depending on Customer relationship.
 

Real Estate
As published in weekly rate sheet. Must be reviewed by the Board of Directors.
 

Security Agreement
Prime to a maximum rate of 18.00% depending on Customer relationship, term of loan, collateral offered and risk must be considered.

UNSECURED LOANS

Up to 18.00% depending on Customer relationship, term of loan and risk must be considered.

 

Residential/Owner Occupied | Residential/Second Home | Consumer Credit | Home Equity Line of Credit

 

Home Equity Line of Credit

Loan Interest Rate Guidelines - Effective: July 27, 2010

Current Rate Annual Percentage Rate (APR)  Term  Floor/Cap
       
4.00% 4.00%* 20 Years
10 Year Draw/10 Year Repayment		 4.00% / 18.00%

Borrow up to 80 % of the appraised / assessed value of the property less existing mortgage.

  • Ten (10) year draw period, ten (10) year repayment period.
  • $375.00 Closing Costs.
  • Property insurance is required.
  • A Termination Fee of $300.00 will be charged if the loan is discharged within 36 months of inception.
  • All advances / payments are to be made through a Lenox National Bank Checking / Savings Account.

 * This is a variable rate product. The annual percentage rate (APR) may vary after consummation. The APR will be equal to the Prime Rate as published in the Wall Street Journal (3.25 as of 12/17/08 ), sbuject to the following rate cap and floor.  The APR will never be less than 4.00% or greater than 18.00%.