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Consumer Loan Rates

Product Name

Description

Maximum Collateral Values
(Loan to Value-LTV)

Term

APR
(Annual Percentage Rate)

Monthly Payment
per $1,000
(Principal plus Interest)

Personal Loan - Unsecured

Multi-purpose loan

N/A

48 months

12.25% *

$26.46

Personal Loan - Secured

 Secured by tangible personal property
(older model cars)

NADA "Retail" Value (NADA is
an official used car guide)

 60 months

8.25% *

$20.40

Overdraft Protection

Revolving line of credit linked to a personal Demand Deposit Account (DDA)

N/A

36 months
(1/36th of principal + interest)

18.00%

$42.78

Automobile New
2014-16
+++

Foreign and domestic auto  (Personal use only) 

Retail Value (up to 100% financing is available)

Up to 72 months

Up to 48 months - 3.50% *
49-60 months - 3.74% *
61-72 months - 3.99% *

          $22.36        
$22.04 to $18.30
$18.14 to $15.64

Automobile New  2014-16
PROMOTION +++

New Loans Only ++

Retail Value (up to 100% financing is available)

Up to 72 months

Up to 36 months - 2.50% *
37 - 48 months - 2.75% *
49 - 60 months - 2.95% *
61- 72 months - 3.75% *

$28.86
$28.22 to $22.02
$21.69 to $17.95
$18.03 to $15.53

Automobile Used
  2011-15
+++

Foreign & domestic auto
(Personal use only) 

 NADA "Retail" Value (NADA is an official used car guide)

Up to 60 months 

 Up to 36 months - 3.74% * 
 37 - 48 months - 4.15% * 
49 - 60 months - 4.74% *

$29.41
$28.84 to $22.65
$22.49 to $18.75

Automobile Used
  2011-15
PROMOTION +++

New Loans Only++
 NADA "Retail" Value (NADA is an official used car guide) Up to 60 months
Up to 36 months - 2.75% * 
 37 - 48 months - 3.00% * 
49 - 60 months - 3.25% *
$28.97
$28.33 to $22.13
$21.82 to $18.08

Automobile Used 2008-10 +++

Foreign & domestic auto
(Personal use only)

NADA "Retail" Value (NADA is an official used car guide)  

 Up to 48 months

 Up to 36 months - 4.74% *
  37-48 months - 5.39% *

 $29.85
$29.40 to $23.21


Automobile Used 2008-10
PROMOTION +++

New Loans Only ++
NADA "Retail" Value (NADA is an official used car guide)  Up to 48 months Up to 36 months - 3.75% *
  37-48 months - 4.75% *
$29.41
$29.11 to $22.92

HELOC
Home Equity
Line of Credit
Variable ***

Home Equity Multi Purpose Line of Credit 

Owner Occupied 1-4 Family
80% LTV
Vacation Property Condominium/Townhouse
1 Family
65% LTV
Rental Property
1-4 Family 
55% LTV

LTV = total of all liens against the property divided by the appraised value of the property.

Must be zoned Residential.

Storefront properties and co-ops are not acceptable.

Homeowners insurance is required.

 Revolving

Principal & Interest Option
Payments equals 1/240 of principal plus interest for the month
or
Interest Only Option
For 10 Years
Then
Payments equals 1/180 of the principal plus interest for the month

Initial APR of 1.99%
fixed for 12 months
then as low as 3
.75% APR thereafter **



Notes:
Minimum payment is $50

Minimum Draw is 200

Early Cancellation Fee of $400 if line is closed/terminated within the first 18 months.

Principal + Interest Option
 
$5.83 (Initial APR**,
P&I 1/240)

$7.29 (Current APR**,
P&I 1/240)


Interest Only Option

$1.66 (Interest Only at Initial APR**) 

$3.13 (Interest Only at current APR**)  

$8.68 (Current APR**,
P&I 1/180) 

Home Equity Loan Fixed ***

Home Equity Multi Purpose fully amortizing loan

Same as above (HELOC)

Terms to 240 months

36 - 60 months - 3.49% *
61- 120 months - 3.74% *
121 - 180 months - 4.49% *
181 - 240 months - 4.99% *

$29.30 to $18.19 +
$18.03 to $10.00 +
$10.29 to $7.64 +
$7.87 to $6.59 +

Home Equity Loan Fixed ***
PROMOTION
New Loans Only ++ Same as above (HELOC) Terms to 240 months

36 - 60 months - 2.95% *
61- 120 months - 3.74% *
121 - 180 months - 3.95% *
181 - 240 months - 4.75% *

$29.06 to $17.95 +
$18.03 to $10.00 +
$10.03 to $7.37 +
$7.75 to $6.46 +


The APR's shown for Personal Unsecured, Personal Secured, Automobile and Home Equity loans include a .25% discount for having the loan payments automatically deducted from a Lakeland checking or statement savings account. The APR will increase if, at any time during the term of the loan, the automatic payment deduction is discontinued.

**  Home Equity Line of Credit: The 1.99% initial APR is guaranteed for twelve months at the time of closing and is variable thereafter. The variable APR is equal to the Wall Street Journal Prime Rate, currently 3.25%. The minimum APR that can be imposed is 3.75%. The maximum APR that can be imposed is 18%. The current APR is 3.75%.

***  Mortgage Recording Fee: For all Home Equity Loans and Lines of Credit (HELOC), a mortgage recording fee of $75 will be charged at time of closing.  In addition, NY homeowners outside of the five boroughs will be charged a mortgage recording tax ranging from 1.02% to 1.05% of the loan/line amount.  NY homeowners within one of the five boroughs will be charged a mortgage recording tax ranging from 1.77% to 1.80% of the loan/line amount. 

Taxes and Insurance Not Included:  Monthly payment examples for Home Equity Loans do not include amounts for property taxes and insurance.  Actual payment obligation may be greater.

++  For NEW LOANS ONLY:  No Lakeland Bank refinances, with or without cash out & no modifications.

+++  Motorcycle Loans 1% higher.



All loans are subject to credit approval. Rates and terms are accurate as of 3/23/2015 and are subject to change without notice.

 

NMLS # 530634