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Personal Loans

Bay Bank offers a variety of loan products and flexible terms to meet all of your borrowing needs. Speak with a bank representative for additional information and individual loan requirements.

HOME EQUITY LINE OF CREDIT

  • Borrow up to 89% of the Home's Combined Loan-to-Value (LTV)
  • Bay Bank Pays Closing Costs up to $2,000* 
  • $250,000 Maximum Line Amount
  • Discounts for Automatic Payments Made from Bay Bank Accounts
  • Variable Interest Rate Tied to Wall Street Journal Prime Rate
  • Write a Check to Yourself When Funds are Needed
  • Possible Tax Advantages**

*Bay Bank will pay closing costs up to $2,000 if the account remains open for 36 months with an average balance of $20,000.  Any costs over $2,000 are due and payable at closing. If you do not maintain an average balance of $20,000 or you close your line of credit within the first three years, the closing costs the Bank paid on your behalf will be added to your outstanding or your pay-off balance. Closing costs range from $450 to $3,000.  Title insurance is required for lines greater than $50,000.  Property insurance is required.  Subject to credit approval.  Primary residences only.  Terms and conditions are subject to change without notice.**Consult your tax advisor regarding the deductibility of interest.

AUTOMOBILE

(Cars, Vans, Mini-Vans, Pick Up Trucks, SUVS)

  • New & Used Vehicles
  • 10% Down Payment
  • Easy Application & Approval Process
  • Fixed Rates
  • Flexible Payment Terms
  • Rate Reduction with Automatic Payment from a Bay Bank Checking or Savings Account

PERSONAL SECURED & UNSECURED LOANS

SECURED

  • Borrow up to 95% of the Value of Your CD or Savings Account
  • $2,500 Minimum Loan Amount
  • Fixed Payments
  • Interest Rate is 2.00% Over the Rate on CD or Savings Account

UNSECURED

  • Requires No Collateral
  • $7,500 Maximum Loan Amount
  • $3,000 Minimum Loan Amount
  • Flexible Repayment Terms Available
  • Affordable Monthly Payments at a Fixed Interest Rate
  • Rate Reduction with Automatic Payment from a Bay Bank Checking or Savings Account

OVERDRAFT PROTECTION LINE OF CREDIT

  • Prevents Overdrafts from Personal Checking Account
  • $30 Annual Fee
  • Open-Ended Term
  • $500 Minimum Line & $5,000 Maximum Line
  • Allows Access to Funds up to the Approved Credit Amount
  • Fixed Rates

 

 
 
Corporate Office
2328 West Joppa Road, Suite 325
Lutherville, MD 21093-4637
(410) 494-2580
Toll Free (800) 222-6566

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