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Installment Loans 

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

• Competitive fixed and variable rates.

• 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, boat, or recreational vehicle, make improvements to your home, or pay for medical expenses.







Loan Product

Rates

Terms

Parameters & Fees

Personal Loan

9.99% APR**

Up to 48 months

Min: $2,000    Max: $10,000

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








Demand Secured Loan
(secured by Eastern Bank Statement Savings,
Passbook Savings or CD)

5.00% APR**










3% over CD or Regular Savings rate

Up to 48 months










Interest paid quarterly

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

3.79% APR**


0-4 yrs old 3.99% APR**

5-6 yrs old 4.49% APR**

Up to 60 months


Up to 60 Months

Up to 36 months

Min: $5,000

• Sales agreement at time
   of application 

• 10% minimum down payment
   Maximum Mileage: 80,000

New Boats or
Recreational Vehicles

 

 

 

Used Boats or
Recreational Vehicles

5.99% APR**


6.49% APR


6.99% APR



6.49% APR**


6.99% APR

<$10,000 
60 months fixed**

>$10,000
120 months fixed

>$50,000
180 months fixed


<$10,000 
60 months fixed**

>$10,000
120 months fixed

Min: $7,500

Requirements:
• Sales Agreement and/or
   survey Insurance binder
   at closing

Boats 26 ft and over may
   require marine documentation

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 Demand Secured loans.

** Loan product qualifies for a discount.

Consumer loan rates effective 9/1/2015.

Three Easy Ways to Apply

Online: Click on the link below for the loan you want:

Auto Loan

Personal Loan

Other Consumer Loan (Line of Credit, Boat or RV Loan)


By phone: Call 1-800-EASTERN (327-8376).

At any Eastern Bank branch: Use our branch locator to find one near you.