Consumer Loan Rates
Rates are Effective January 7, 2013, and subject to change at any time.
Auto Loan Rates(Rates may be reduced by .25% for auto-payments from a Merchants Bank account) |
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|---|---|---|---|
| Model Year | Term Up To | Fixed Annual Percentage Rate | Monthly Payment Per $1,000 |
| 2012-2013 New (2,000 miles or less) |
36 Months 48 Months 60 Months |
3.60% 3.75% 3.90% |
$29.35Apply Now $22.47 $18.37 |
| 2012-2013 Used (more than 2,000 miles) |
36 Months 48 Months 60 Months |
3.85% 4.00% 4.15% |
$29.46Apply Now $22.58 $18.49 |
| 2010-2011 Used | 48 Months | 5.00% | $23.03 |
| 2008-2009 Used | 42 Months | 5.75% | $26.34 |
| 2003-2007 Used | 36 Months | 6.50% | $30.65 |
| Rebuilt Vehicles 2003-2013 |
36 Months | 8.00% | $31.34 |
Motorcycles, ATVs, Snowmobiles(10% Downpayment Required. Rates may be reduced by .25% for auto-payments from a Merchants Bank account) |
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| New | 48 Months | 5.25% | $23.14 |
| 1-5 Years | 36 Months | 5.75% | $30.31 |
Boats(10% Downpayment Required. Rates may be reduced by .25% for auto-payments from a Merchants Bank account) |
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| New | 84 Months | 6.25% | $14.73 |
| 1-10 Years | 84 Months | 7.25% | $15.22 |
Motorized Recreational Vehicles(10% Downpayment Required. Rates may be reduced by .25% for auto-payments from a Merchants Bank account) |
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|---|---|---|---|---|
| Value or Purchase Price | Age | Term Up To | Fixed Annual Percentage Rate | Monthly Payment Per $1,000 |
| $0-$24,999 | New 1-3 Years 4-10 Years |
60 Months 48 Months 36 Months |
5.75% 6.75% 7.75% |
$19.22 $23.83 $31.22 |
| $25,000-$49,999 | New 1-3 Years 4-10 Years |
72 Months 60 Months 48 Months |
5.50% 6.50% 7.50% |
$16.34 $19.57 $24.18 |
| $50,000+ | New 1-3 Years 4-10 Years |
84 Months 72 Months 60 Months |
5.25% 6.25% 7.25% |
$14.25 $16.69 $19.92 |
| Merchants Bank CD or Merchants Bank Money Market Secured Apply Now | |||
|---|---|---|---|
| Collateral Type | Term Up To | Fixed Annual Percentage Rate | Monthly Payment Per $1,000 |
| Merchants Bank CD | CD Maturity | CD Rate +2.0% | Varies Based on CD Rate |
| Merchants Bank Money Market | 12 Months | 2.20% | $84.33 Principal and Interest, or $1.80 Interest only with a balloon payment of principal plus accrued interest due at maturity. |
| Other Personal Loans | |||
| Unsecured | 12 Months | 12.00% | $88.85 |
| Stocks/CVLI | 12 Months | 4.00% | $85.15 |
Consumer Loan Notes:
- Minimum loan amount is $2,000.
- There is a $35 loan origination fee charge for all new and renewed Consumer Loans of less than $4,000, and a $10 fee to file a Notice of Security Interest and a $17 Vendor Single Interest fee for titled collateral loans. These fees may be waived for 2012-2013 New and Used Auto Loans.
- APRs are based on a loan amount of $10,000.
- IRAs may not be used as collateral.
