Personal Borrowing

Personal Loans & Lines

Whether you’re looking to consolidate your credit card debt, borrow to buy a car or other personal item, you can get the affordable financing you need to make it possible. At Eastern Bank, our loans come with great rates and personal service from helpful representatives.

 

Eastern Bank Employee Smiling
  • Competitive interest rates.
  • New easy-to-use application.
  • The ability to lower your rate with automatic payments from an Eastern Checking account, and even more from an Eastern Premier Checking account.
  • Terms to meet your budget.
  • The flexibility to borrow for a variety of reasons – to purchase a new or used car, make improvements to your home, or pay for medical expenses.

Apply for a Personal Loan Here 

Call 1-800-EASTERN (327-8376)  Monday-Friday 7:00 a.m. to 8:00 p.m., Saturday 9:00 a.m. to 3:00 p.m.

Or use our branch locator to apply at Eastern Bank location near you.

 

Learn about our Personal Borrowing options

See a comparison of options

Loan Product

Rates

Terms

Parameters & Fees

Personal Loan

Rates as low as

6.99%^

Up to 60 months

Min: $2,000    

Max: $25,000

Personal Line of Credit

Prime plus 5.0%*

Up to 60 months

Revolving: interest only monthly

(balance due in full at maturity)

Min: $5,000

Max: $50,000

Collateral Installment Loan
(secured by Eastern Bank Savings or CD)







Term Secured Loan
(secured by Eastern Bank Savings or CD)

5.00% APR**










5.00% APR

Up to 48 months










Interest paid monthly

(balance due in full at maturity)

Min: $2,000

• Finance up to 90% of
   collateral value

• One account per loan/One
   loan per account (IRAs
   and accounts for minors
   not eligible)


Min: $2,000

• Finance up to 90% of
   collateral value

• One account per loan/One
   loan per account (IRAs
   and accounts for minors
   not eligible)

New Automobile


Used Automobile
& all refinances

4.54% APR**


0-4 yrs old 4.74% APR**

5-6 yrs old 5.24% APR**

Up to 60 months


Up to 60 Months

Up to 36 months

Min: $5,000

• For purchase, at time of application need a Sales agreement with dollar amount of transaction. 

   • Maximum Mileage: 80,000

 

Note: On installment loans with a total term of 60 months or less, "Premier and Select" checking customers receive 1% discount with auto-pay from an Eastern Bank Premier and Select account. Other customers receive a .50% discount with auto-pay from an Eastern Bank account.

Discounts cannot be combined and do not apply to Flex Equity Lines & Loans or Term Secured loans.

** Loan product qualifies for a discount.

*The interest rate adjusts monthly based on the Wall Street Journal prime rate for the life of the line (5.50% APR on 5/1/2019).

^As of 5/1/2019 your APR may be as low as 6.99% or as high as 16.49%.  To qualify for the lowest rate, applicants must have  excellent credit, apply for a 12-month term and be an Eastern Bank Premier or Eastern Bank Select customer.  Lowest rate assumes a 1% auto-pay discount from an Eastern Premier or Select checking account.  Applicants without an Eastern Bank Premier or Eastern Bank Select checking account can receive a 0.5% auto-pay discount with another Eastern Bank checking account.

Consumer loan rates effective 5/1/2019.