About Us
Consumer Loans
Floating Home Equity Line of Credit
Fixed Rate Home Equity Line of Credit
Auto Loans
Loans Secured by CD or Stock
A Home Equity Line of Credit is a revolving line of credit that works much like a credit card. It is an open-ended line of credit that is secured by the equity in your home.
Floating Rate Home Equity Line of Credit
The rate floats with Prime. Are rates going down? If they are, you are sure to benefit
| Rate |
*Line from $10,000-$449,999, **Lines $450,000 and up |
*5.25% APR **5.45% A.P.R |
| Closing Costs | No closing costs provided line remains open for 2 years~ | $0.00 |
| Minimum Line Amount | In order to get the advertised special rates | $10,000 |
| Ceiling/ Floor |
*Lines from $10,000 - $449,999 **Lines from $450,000 and Up |
*5.25% APR **5.45% |
| Maximum Rate | Maximum Rate | 20.00% |
|
Prime is equal to 3.25% A.P.Y *This APR will change when Prime exceeds 5.25% APR **This APR will change when Prime exceeds 5.45% APR Available On Owner Occupied 1 to 4 Family Residence. ~Account Must Stay Open For 2 Years, If The Account Is Closed The Closing Cost Will Be Added In The Final Payoff. Rates Apply New Money, Referrals and Increases. Hazard Insurance Required. A.P.R. is equal to the Annual Percentage Rate. |
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Convenience
- Perfect for providing you with the flexibility for funding things such as home improvements, education, or debt consolidation
- Home Equity Line of Credit is a 10 year note
- Your minimum monthly payment is the accrued interest. You can pay as much principal each month as you desire without penalty.
Flexibility
- Minimum loan is $10,000. The maximum loan amount is 90% of the appraised value of your home minus your last mortgage.
- Floating Rate - floats with prime (see above for current rate)
Savings
- Potential Tax Savings - Interest paid on your Home Equity Line of Credit may be tax deductible. Consult your tax advisor regarding the deductability of interest.
Bonus
- You can access your Home Equity Line of Credit through Royal Banks checks or through the annual convenience check mailing.
Fixed Rate Home Equity Line of Credit
If you are worried about rates going up, the fixed rate Home Equity Line of Credit is perfect for you. Rates are on the rise and with a fixed rate you will be locked in through the term of your loan. You can open this with a smaller minimum balance than the Floating Rate Line of Credit.
| Rate | Rate will remain fixed for term of note | 8.50% A.P.R. |
| Closing Costs | No closing costs provided line remains open for 2 years | $0.00 |
| Minimum Line Amount | In order to get the advertised special rates | $10,000 |
| Length of Note | Home Equity Line of Credit will remain open for length of note | 5 years |
|
New Money Only. Hazard Insurance Required. After 5 Year term is up, Loan can either be paid off or renewed at current Fixed Rate. A.P.R. is equal to the Annual Percentage Rate. |
||
Convenience
- Perfect for providing you with the flexibility of accessing your funds for things such as, home improvements, education, or debt consolidation
- Home Equity Line of Credit is a 5 year note
- Your minimum monthly payment is the accrued interest. You can pay as much principal each month as you desire without penalty.
Flexibility
- Minimum loan is $10,000. The maximum loan amount is 80% of the appraised value of your home minus your last mortgage.
Savings
- Potential tax savings - Interest paid on your Home Equity Line of Credit may be tax deductible. Consult your tax advisor regarding the deductibility of interest.
Bonus
- You can access your Home Equity Line of Credit through Royal Banks checks or through the annual convenience check mailing.
Auto Loans
A $50.00 loan documentation fee will be charged for each loan closed (excluding Home Equity Lines of Credit). This fee can be waived if the borrower opens a checking account (excluding the free checking account) and sets up the loan on autopay.
Automobile Loan Rates
All rates disclosed are based on a loan amount of $10,000.00.
| RBOM Autopay | RBOM Non-Autopay | |||
|---|---|---|---|---|
| 2009 - 2010 | Rate | APR | Rate | APR |
| 24 Months | 6.25% | 6.25% | 6.50% | 6.98% |
| 36 months | 6.25% | 6.25% | 6.50% | 6.83% |
| 48 months | 6.50% | 6.50% | 6.75% | 7.00% |
| 60 months | 6.75% | 6.75% | 7.00% | 7.21% |
| 72 months * | 7.75% | 7.75% | 8.00% | 8.18% |
* Available on vehicles with a purchase price in excess of $25,000
We will finance up to 100% of the purchase price for qualified borrowers
Pre-owned
| With Autopay | Without Autopay | |||
|---|---|---|---|---|
| 2007 - 2008 | Rate | APR | Rate | APR |
| 36 months | 7.50% | 7.50% | 7.75% | 8.08% |
| 48 months | 7.50% | 7.50% | 7.75% | 8.00% |
| 60 months | 7.75% | 7.75% | 8.00% | 8.21% |
| With Autopay | Without Autopay | |||
|---|---|---|---|---|
| 2005 - 2006 | Rate | APR | Rate | APR |
| 36 months | 8.50% | 8.50% | 8.75% | 9.08% |
| 48 months | 8.50% | 8.50% | 8.75% | 9.00% |
We will finance the lesser of the purchase price or the NADA retail value.
Loans secured by deposit accounts
| With Autopay | Without Autopay | |||
| Rate | APR | Rate | APR | |
| Loan up to $2,500 | 10.25% | 10.25% | 10.50% | 14.22% |
| Rates based on a $2,500.00 loan with a 5 year term | ||||
| Loan $2,501 - $5,500 | 8.25% | 8.25% | 8.50% | 10.17% |
| Rates based on a $5,000 loan with a 5 year term | ||||
| Loans $5,501 - $10,000 | 7.75% | 7.75% | 8.00% | 8.91% |
| Rates based on a $10,000 loan with a 5 year term | ||||
| Loans $10,000 and over | 6.50% | 6.50% | 6.00% | 6.91% |
| Rates based on a $10,000 loan with a 5 year term and 3% above deposit rate | ||||
