An Eastern Bank Personal Line of Credit can help you achieve your financial goals
Eastern Bank offers personal lines of credit at great rates1 for funding life’s big moments, consolidating high-interest credit card debt or to help you establish a credit history. At Eastern Bank, we do good things to help people prosper… See how a personal line of credit from Eastern Bank can help you achieve your financial goals!
Enjoy payment flexibility with an Eastern Bank Personal Line of Credit
A personal line of credit from Eastern Bank offers a revolving line of credit at a rate typically lower than a credit card, useful if you want to consolidate high-interest debt and reduce your monthly payment.
A personal line of credit also provides flexible payment options that enable customers to manage their line of credit how they see fit. With your monthly payment, you can either pay down the principal or cover just the interest; Eastern Bank enables you to focus on what’s best for you and your financial situation. If you choose to make interest-only payments, then the balance shall be due and payable in full at maturity.
And with an Eastern Bank Premier Checking account or Eastern Select Checking account, the $50 annual fee for your Eastern Bank personal line of credit is waived.
What will you do with your personal line of credit?
Pay Off Credit Cards
Fund Home Improvements
Pay for Life's Big Moments
Get an Eastern Bank Personal Line of Credit at a Great Rate
Prime plus 5.00%1
Up to 60 months
Revolving: Interest-only monthly
(Balance due in full at maturity)
1 The interest rate adjusts monthly based on the Wall Street Journal prime rate for the life of the line (3.25% APR on 1/1/2021).
The annual percentage rate (APR) is what credit costs a borrower each year, expressed as a percentage of the loan amount.
The Prime Rate (PRIME) is the interest rate a bank offers to its most credit-worthy customers, typically those with the highest credit ratings.
There is a $50 annual fee for a Personal Line of Credit, which is waived for Eastern Bank Premier Checking and Eastern Bank Select customers. There is also a late fee if payments are not received on time.
All financing is subject to credit approval.
Three Ways to Apply for a Personal Line of Credit
Consumer loan rates effective 1/1/2021.