Consumer Loan Rates
All rates effective July 7, 2010 unless otherwise noted and are subject to change without notice.
Home Equity Line of Credit
- Home Equity Line of Credit (owner occupied) is 3.75% Annual Percentage Rate fixed for an initial period of 2 years, then Prime** + .50%, adjustable monthly and with a minimum of 4.50% APR and a maximum of 18% APR. There are no closing costs. It is important to note that if you make only the minimum required payments, interest only, an outstanding balance (a balloon payment) will result at the end of the 20-year term. The maximum loan-to-value is 80%. There is a $450 early termination fee if you close out your loan within 36 months. A 4.50% interest rate floor applies after the 2-year fixed rate period. This product is not intended for properties currently for sale or to be sold within the next six months.
Home Equity
| Product Name | Annual Percentage Rate (APR) | Term (years) | Monthly Payment |
| Fixed Rate Home Equity Loan* | 6.375% | 5 | $19.51 |
| 6.625% | 10 | $11.42 | |
| 7.000% | 15 | $8.99 | |
| 7.250% | 20 | $7.90 |
- These payment examples do not include amounts for taxes or insurance premiums.
Mobile Homes in Parks
- Please contact the Consumer Loan Department at 603-225-2793 or 800-541-0006 for information.
Auto Loans
| Product Name | Annual Percentage Rate (APR) | Term (years) | Monthly Payment |
| New Autos (2010 and 2009) * | 6.014% | 3 | $30.43 |
| 6.160% | 4 | $23.56 | |
| 6.160% | 5 | $19.41 | |
| 6.394% | 6 | $16.76 | |
| Used Autos (2009) * | 7.162% | 5 | $19.88 |
| Used Autos (2007-2008) * | 7.422% | 5 | $20.00 |
| Used Autos (2004-2006) * | 8.462% | 4 | $24.63 |
| Used Autos (2001-2003) * | 9.464% | 3 | $32.02 |
Personal Loans
| Product Name | Annual Percentage Rate (APR) | Term (years) | Monthly Payment |
| Unsecured Personal | 13.345% | 5 | $22.93 |
Recreational
| Product Name | Annual Percentage Rate (APR) | Term (years) | Monthly Payment |
Boat/Motor Home/Camper/Trailer
| 8.041% | 10 | $12.15 |
| Motorcycles/Snowmobiles/ATVs | 8.271% | 4 | $24.54 |
Home Improvement
- Home Improvement loans are 9.166% APR for a 60 month term. Monthly payment per $1,000 is $20.84. Maximum loan amount is $10,000.
Time Loans
- Time Loans are 16.385% APR with a 90 day term. Principal and interest are due at maturity.
CheckReserve Line of Credit
- CheckReserve is 15.00% APR. It is a revolving line of credit; monthly payment is 5% of balance with a $25.00 minimum. Maximum available line is $5,000; $25.00 annual fee; linked to Merrimack personal checking account.
- * 0.25% rate discount is available to Merrimack Premium or Premium Plus Checking account customers choosing automatic deduction of monthly payments from a Merrimack deposit account. This applies to Home Equity Loans, Auto Loans, and Recreational Loans only.
- ** Prime as of 01/01/10 is 3.25%. All equity loan products have a floor of 4.50%.
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