Loan Rates
We provide lower fees and better rates and for all of our products! Feel free to check out New Bedford Credit Union’s current loan rates.
Rates effective as of May 5, 2022. All rates are subject to change.
Prime Rate currently 4.00%.
| Type of Loan | Description | Term in Months | Annual Percentage Rate (APR) | Estimated monthly payment per $1,000 |
|---|---|---|---|---|
| No Fuss Loan Special | Maximum $5,000 | 12 to 36 | as low as 3.75% * | $85.04 |
| Personal Loan | Maximum $15,000 | 12 to 60 | as low as 7.00% 1 | $86.87 |
| Share Secured Loan | Share Secured Loan | 144 | 3.02% 2 | $9.67 |
- (1) Personal Loan. Estimated monthly payment of $86.88 per $1,000.00 borrowed, for a 12 month term, which includes single life insurance. * Estimated monthly payment of $85.04 per $1,000.00 borrowed, for a 12 month term. The rate may vary depending on each borrower’s credit history and underwriting factors. Rates are subject to change without notice. Other rates and terms available.
- (2) Share Secured Loan is secured by Money Market Account or Term Certificate 3.00% higher than rate.
| Automobile Loan (100% financing available) | Term in Months | Annual Percentage Rate (APR) | Estimated monthly payment per $1,000 |
|---|---|---|---|
| New Auto – 2022, 2021, 2020 models | 24 | as low as 1.99%* | $44.07 |
| New Auto – 2022, 2021, 2020 models | 36 | as low as 1.99%* | $29.78 |
| New Auto – 2022, 2021, 2020 models | 48 | as low as 1.99%* | $22.63 |
| New Auto – 2022, 2021, 2020 models | 60 | as low as 1.99%** | $18.35 |
| New Auto – 2022, 2021, 2020 models | 75 | as low as 2.24%** | $15.04 |
| New Auto – 2022, 2021, 2020 models | 84 | as low as 2.99%** | $13.93 |
- Classic auto loan. Payment includes single life insurance and VSI insurance. The rate may vary depending on each borrower’s credit history and underwriting factors. 100% financing not to exceed NADA value or purchase price. Rates are subject to change without notice. Other rates and terms available. Refinancing of existing New Bedford Credit Union loans is excluded. Maximum up to $65,000.
| Automobile Loan (100% financing available) | Term in Months | Annual Percentage Rate (APR) | Estimated monthly payment per $1,000 |
|---|---|---|---|
| Used Auto – 2019 – 2017 models | 24 | as low as 1.99% | $44.07 |
| Used Auto – 2019 – 2017 models | 36 | as low as 1.99% | $29.78 |
| Used Auto – 2019 – 2017 models | 48 | as low as 1.99% | $22.63 |
| Used Auto – 2019 – 2017 models | 60 | as low as 1.99% | $18.35 |
| Used Auto – 2019 – 2017 models | 75 | as low as 2.24% | $15.04 |
- Classic auto loan. Payment includes single life insurance and VSI insurance. The rate may vary depending on each borrower’s credit history and underwriting factors. 100% financing not to exceed NADA value or purchase price. Rates are subject to change without notice. Other rates and terms available. Refinancing of existing New Bedford Credit Union loans is excluded. Maximum up to $65,000.
| Automobile Loan (100% financing available) | Term in Months | Annual Percentage Rate (APR) | Estimated monthly payment per $1,000 |
|---|---|---|---|
| Used Auto – 2016 – 2012 models | 24 | as low as 2.49% | $44.29 |
| Used Auto – 2016 – 2012 models | 36 | as low as 2.49% | $30.00 |
| Used Auto – 2016 – 2012 models | 48 | as low as 2.49% | $22.86 |
| Used Auto – 2016 – 2012 models | 60 | as low as 2.99% | $18.81 |
- Classic auto loan. Payment includes single life insurance and VSI insurance. The rate may vary depending on each borrower’s credit history and underwriting factors. 100% financing not to exceed NADA value or purchase price. Rates are subject to change without notice. Other rates and terms available. Refinancing of existing New Bedford Credit Union loans is excluded. Maximum up to $65,000.
| Automobile Loan (100% financing available) | Term in Months | Annual Percentage Rate (APR) | Estimated monthly payment per $1,000 |
|---|---|---|---|
| Used Auto – older than 10 years models | 48 | as low as 6.90% | $24.93 |
| Used Auto – older than 10 years models | 60 | as low as 7.90% | $21.17 |
- Classic auto loan. Payment includes single life insurance and VSI insurance. The rate may vary depending on each borrower’s credit history and underwriting factors. 100% financing not to exceed NADA value or purchase price. Rates are subject to change without notice. Other rates and terms available. Refinancing of existing New Bedford Credit Union loans is excluded. Maximum up to $65,000.
| Type of Loan | Description | Term in Months | Annual Percentage Rate (APR) | Estimated monthly payment per $1,000 |
|---|---|---|---|---|
| New Motorcycle | 2021 2020, 2019 model years | 36 | as low as 3.74% 1 | $30.57 |
| New Motorcycle | 2021, 2020, 2019 model years | 48 | as low as 3.74% 1 | $23.44 |
| New Motorcycle | 2021, 2020, 2019 model years | 60 | as low as 4.24% 1 | $19.39 |
| New Motorcycle | 2021, 2020, 2019 model years | 75 | as low as 4.74% 1 | $16.79 |
| Used Motorcycle | 2011 up to 2018 model years | 36 | as low as 4.99% 1 | $31.15 |
| Used Motorcycle | 2011 up to 2018 model years | 48 | as low as 4.99% 1 | $24.02 |
| Used Motorcycle | 2011 up to 2018 model years | 60 | as low as 5.49% 1 | $19.99 |
| Used Motorcycle | Older than 2011 with special approval | 60 | as low as 7.99% 1 | $25.46 |
- (1) New/Used Motorcycle Loan. Payment includes single life insurance and VSI insurance. The rate may vary depending on each borrower’s credit history and underwriting factors. 100% financing not to exceed NADA value or purchase price. Rates are subject to change without notice. Other rates and terms available. Refinancing of existing New Bedford Credit Union loans is excluded. Maximum up to $65,000.
| Type of Loan | Description | Term in Months | Annual Percentage Rate (APR) | Estimated monthly payment per $1,000 |
|---|---|---|---|---|
| New R.V. Camper | New 30% down; $2,500 Min; Certificate of Title or UCC-1 Financing Statement Required | up to 60 | as low as 10.00% 1 | $22.11 |
| Used R.V. Camper | Used 50% down; $2,500 Min; Certificate of Title or UCC-1 Financing Statement Required | up to 60 | as low as 11.00% 1 | $22.63 |
| New Boat | New 30% down required; Pleasure crafts only | up to 60 | as low as 10.00% 1 | $22.11 |
| Used Boat | Used 50% down required; Pleasure crafts only | up to 60 | as low as 11.00% 1 | $22.63 |
- (1) New/Used RV Camper & New/Used Boat Loan. Loan payment includes single life insurance. The rate may vary depending on each borrower’s credit history and underwriting factors. Rates are subject to change without notice. Other rates and terms available. Maximum up to $65,000.
| 1st Mortgage | Type | Term in Years | Rate | Annual Percentage Rate (APR) | Estimated monthly payment per $100,000 |
|---|---|---|---|---|---|
| 1st Mortgage | Fixed Rate | 30 | 4.750% | 4.901% + 0 points 1 | $521.65 |
| 1st Mortgage | Fixed Rate | 30 | 4.500% | 4.733% + 1 point 1 | $506.69 |
| 1st Mortgage | Fixed Rate | 20 | 4.375% | 4.581% + 0 points 1 | $625.92 |
| 1st Mortgage | Fixed Rate | 15 | 4.125% | 4.382% + 0 points 1 | $745.97 |
| 1st Mortgage | Fixed Rate | 15 | 4.000% | 4.402% + 1 point 1 | $739.69 |
| 1st Mortgage | Fixed Rate | 10 | 4.000% | 4.370% + 0 points 1 | $1,012.45 |
| 1st Mortgage | Fixed Rate | 5 | 4.000% | 4.709% + 0 points 1 | $1,841.65 |
- (1) Fixed Rate First Mortgage. The Annual Percentage rates listed above are each subject to change at any time and are not guaranteed until a mortgage contract is executed. Rates exclude refinance. Property must be Owner Occupied, one to four family. Maximum dollar amount up to $700,000. The tax service fee is $90. The underwriting fee is $400. The appraisal fee is up to $600. Payments do not include taxes or insurance. Actual payment obligation will be greater. To qualify for the advertised rates above, a credit score above 680 is required. Rates are based on single family, owner occupied residence. Contact a loan representative for additional information on rates and fees.
| Home Equity Line of Credit | Type | Term in Years | Annual Percentage Rate (APR) | Estimated monthly payment per $100,000 |
|---|---|---|---|---|
| Home Equity Line of Credit (80% LTV) | Adjustable Rate | 10 year draw; 10 year repay | 3.75% APR 1 | n/a |
- (1) Owner occupied Home Equity Line of Credit. The maximum line of credit plus the outstanding first mortgage shall not exceed eighty (80) percent of the appraised value of the real estate or seventy (70) percent of the market value. Maximum dollar amount up to $175,000.00. Property insurance is required in an amount equal to or greater than the amount of the approved line of credit. The Annual Percentage Rate may vary. Annual Percentage Rate is based on the prime rate listed in the Wall Street Journal minus 0.25%. Rate will not exceed 18% APR. Fees may range from $0 to $800.00. The Annual Percentage Rate is current as of today’s date and is not guaranteed until a loan contract is executed.
| Fixed Rate Home Equity Loan | Type | Term in Years | Annual Percentage Rate (APR) | Estimated monthly payment per $100,000 |
|---|---|---|---|---|
| Fixed Rate Home Equity Loan (80% LTV) | Fixed Rate (minimum $7,500) | 5 | 3.000% APR 1 | $1,796.77 |
| Fixed Rate Home Equity Loan (80% LTV) | Fixed Rate (minimum $7,500) | 10 | 3.875% APR 1 | $1,006.64 |
| Fixed Rate Home Equity Loan (80% LTV) | Fixed Rate (minimum $7,500) | 15 | 4.240% APR 1 | $751.77 |
| Fixed Rate Home Equity Loan (80% LTV) | Fixed Rate (minimum $7,500) | 20 | 4.500% APR 1 | $632.65 |
- (1) Owner Occupied Fixed Rate Home Equity Loan. Fixed Rate Home Equity Loans may be approved for up to eighty (80) percent of the appraised value of the real estate. Minimum dollar amount is $7,500.00. Maximum dollar amount up to $175,000.00. Property Insurance is required in an amount equal to or greater than the amount of the approved loan. Fees may range from $0 to $800.00. The Annual Percentage Rate is current as of today’s date and is not guaranteed until a loan contract is executed.