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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)
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)
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)
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)
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.

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