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. Loans and Business Funding is underwritten by independent 3rd party business funders: NYMCA Advance and MCA Merchant Advance.

HOME EQUITY LINE OF CREDIT    

•    Rates as low as 3.75%APR*
•    Borrow up to 89% of the Home's Combined Loan-to-Value (LTV)
•    Bay Bank Pays Closing Costs up to $2,000 for loans open for 36 months**
•    Interest only payments for first 10-year draw period
•    $400,000 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***

 *  *The annual percentage rate for all balances is The Wall Street Journal (WSJ) prime rate then in effect minus 0.25% and can change monthly.  Quoted rate is available to customers with credit scores of 720 or above with loan-to-value ratio of 80%.  Where there are two or more borrowers, all credit scores will be averaged to determine the qualifying credit score for the quoted rate.  The quoted rate also reflects an additional 0.25% rate reduction for a direct debit payment from a Bay Bank deposit account.  Your rate may be higher.  As of 9/22/17 the WSJ prime rate is 4.25%.  The maximum APR is 24%.

**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 $350 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 adviser 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

Visit our Resource Library more information about our consumer loan offerings.