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Consumer Loan Rates

All rates effective January 9, 2017 unless otherwise noted and are subject to change without notice. Monthly payments listed below are for every $1,000. (For example, payment on a $1,000 loan for 36 months at 4.328% is $29.67. Therefore, on a $5,000 loan for 36 months at 4.328% is $148.35 ($29.67x5).)


Home Equity Loan
Product Name Annual Percentage Rate (APR) Term (years) Monthly Payment
(per $1,000)
Fixed Rate Home Equity Loan 4.137% 5 $18.19
4.951% 10 $10.36
5.903% 15 $8.17
5.872% 20 $6.88
  • These payment examples do not include amounts for taxes or insurance premiums, and your actual payment may be higher. Satisfactory property insurance is required, including flood insurance (if applicable). 0.75 basis points will be added to the above annual percentage rates for combined loan to values ranging from 80.1% to 89.9%. Minimum loan amount is $10,000. Other terms and conditions may apply. Other restrictions may apply. Subject to underwriting approval.

    Payment examples based on $1,000 loan amount. For example, there are 60 monthly payments of $18.19 per $1,000 borrowed in a five (5) year term; 120 monthly payments of $10.36 per $1,000 borrowed in a ten (10) year term; 180 monthly payments of $8.17 per $1,000 borrowed in a 15 year term; and 240 monthly payments of $6.88 per $1,000 borrowed in a 20 year term.
Introductory Home Equity Line of Credit
Product Name Annual Percentage Rate (APR) Percent (%) Financed Maximum Loan to Value
Home Equity Line of Credit1 3.25% Fixed at 3.25% for 12 months, then prime plus 0% or 4.75% (whichever is greater), adjusted daily 80%
Home Equity Line of Credit2 3.75% Fixed at 3.75% for 12 months, then prime plus 2.00% or 4.75% (whichever is greater), adjusted daily 80.1% – 89.9%

There is a Trust Review Fee of $75 for properties held in a trust. An Early Payoff Fee will be assessed if you pay all outstanding principal, interest, and any other amounts due within thirty-six months from the agreement date. The Early Payoff Fee applies during the first three (3) years of opening the account and is equal to the waived third party fees the Bank pays on your behalf.

This product is not intended for properties currently for sale or to be sold within the next six months. This offer is for new home equity lines of credit only and is limited to 1-4 owner-occupied properties (including condos) and vacation/2nd homes. Consult a tax advisor regarding the deductibility of interest and charges under the plan. Satisfactory property insurance is required, including flood insurance (if applicable). Please contact us about the current index value, margin, discount or premium and annual percentage rate. Subject to underwriting approval. Minimum line is $10,000. Other terms and conditions may apply. Other restrictions may apply.

  • 1Introductory Home Equity Line of Credit rate (owner occupied) of 3.25% Annual Percentage Rate (APR), effective 1/9/17, is fixed for the first 12 months of the loan. After the first 12 months, the APR is variable, and will adjust monthly for the remainder of the term to the highest United States Prime Rate as published in the Eastern Edition of the Wall Street Journal (WSJ) Prime Rate plus 0%, subject to a minimum APR of 4.75% (floor). The APR will vary after consummation with a maximum of 18% APR. The Prime Rate as of 1/9/17 was 3.75%. The initial annual percentage rate is not based on the index and margin used to make later adjustments.

    This is a limited time offer which is subject to change without notice. The draw and repayment period consists of interest-only payment for 10 years. If you make only the minimum required interest-only payments, a single balloon payment for the outstanding balance will be due at the end of the 10-year term. $50 annual fee is waived for first year. The annual fee of $50 will apply after the first year. The interest only payment would be $27.08 for a payment example based on a Home Equity Line Credit of $10,000 for 12 months at 3.25%. The remaining 108 months of interest only payments at 4.75% would be $39.58. Actual payment amounts may be higher based on adjusted APR.

  • 2Introductory Home Equity Line of Credit rate (owner occupied) of 3.75% Annual Percentage Rate (APR), effective 1/9/17, is fixed for the first 12 months of the loan. After the first 12 months, the APR is variable, and will adjust monthly for the remainder of the term to the highest United States Prime Rate as published in the Eastern Edition of the Wall Street Journal (WSJ) Prime Rate plus 2.00%, subject to a minimum APR of 4.75% (floor). The APR will vary after consummation with a maximum of 18% APR. The Prime Rate as of 1/9/17 was 3.75%. The initial annual percentage rate is not based on the index and margin used to make later adjustments.

    This is a limited time offer which is subject to change without notice. The draw and repayment period consists of interest-only payment for 10 years. If you make only the minimum required interest-only payments, a single balloon payment for the outstanding balance will be due at the end of the 10-year term. $50 annual fee is waived for first year. The annual fee of $50 will apply after the first year. The interest only payment would be $31.25 for a payment example based on a Home Equity Line Credit of $10,000 for 12 months at 3.75%. The remaining 108 months of interest only payments at 5.75% would be $47.92. Actual payment amounts may be higher based on adjusted APR.

Mobile Homes in Parks
  • Please contact the Consumer Loan Department at 603-225-2793 or 800-541-0006 for information.
Auto Loans
Product NameAnnual Percentage Rate (APR)Term (years)Monthly Payment
(per $1,000)
New Autos (2017 and 2016)*3.741%3$29.41
3.621%4$22.41
3.547%5$18.21
3.499%6$15.42
Used Autos (2016) *3.801%5$18.33
Used Autos (2014-2015) *4.052%5$18.44
Used Autos (2011-2013) *6.628%4$23.77
Used Autos (2008-2010) *7.495%3$31.10
  • Age, mileage and condition may affect the terms of the loan.
  • Minimum loan amount is $1,000. A loan documentation fee of $75 is included in the APR calculation.
Personal Loans
Product NameAnnual Percentage Rate (APR)Term (years)Monthly Payment
(per $1,000)
Unsecured Personal12.677%5$22.59
  • Minimum loan amount is $1,000. A loan documentation fee of $75 is included in the APR calculation.
Recreational
Product NameAnnual Percentage Rate (APR)Term (years)Monthly Payment
(per $1,000)
Boat/Motor Home/Camper/Trailer
  • New and Used *
7.844%10$12.05
Motorcycles/Snowmobiles/ATVs8.511%4$24.65
  • Minimum loan amount is $1,000. A loan documentation fee of $75 is included in the APR calculation.
Home Improvement
  • Home Improvement loans are 6.813% APR for a 60 month term. Monthly payment per $1,000 is $19.71. Maximum loan amount is $10,000.
  • Minimum loan amount is $1,000. A loan documentation fee of $75 is included in the APR calculation.
Time Loans
  • Minimum loan amount is $1,000. A loan documentation fee of $75 is included in the APR calculation.
  • Time Loans are 18.263% APR with a 90 day term. Principal and interest are due at maturity.
CheckReserve Line of Credit
  • CheckReserve is a revolving line of credit linked to Merrimack personal checking account with a maximum available line of $5,000 (subject to underwriting requirements).

    Interest Rate and Interest Charges
    Annual Percentage Rate (APR) for Advances 15.00% Fixed APR
    Paying Interest Your due date is at least 15 days after the close of each billing cycle. We will begin charging interest on advances on the transaction date.
    Minimum Interest Charge None
    Tips from the Federal Reserve Board To learn more about the factors to consider when applying for or using a revolving line of credit, visit the web site of the Federal Reserve Board
    Fees
    Non-Refundable Annual Fee $30.00

    * 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 consumer loans, excluding home equity lines of credit, home equity loans, other collateral and stock loans, time loans and CheckReserve.

    ** The WSJ Prime Rate as of December 17, 2015 is 3.75%.