Home Equity Line of Credit
Rates As Of: 09/15/2009
Prime Rate is 3.25%
For 10 year term:
| From | To | Interest Rate | APR* |
| $1,000,000 | And Up | See Bank | See Bank |
| $500,000 | $999,999 | Prime + 0.25% | 4.50% |
| $100,000 | $499,999 | Prime + 0.50% | 4.50% |
| $40,000 | $99,999 | Prime + 1.00% | 4.50% |
| $10,000 | $39,999 | Prime + 1.00% | 4.50% |
The APR’s shown above are preferred rates. These rates are .25% lower than our standard variable rates. To obtain a preferred rate, you must have your monthly Home Equity line payments automatically debited from your NSCB checking account. If for any reason this auto-debit arrangement is terminated during the life of the line, your rate will increase by .25% until maturity. Ask the Bank about checking accounts that qualify for this arrangement.
Other Loans (Construction, Overdraft Protection, Auto)
Contact us for current rates.
*New home equity line customers only. The Annual Percentage Rate (APR) is a variable rate based on the highest Prime Rate reported in the Money Rates section of the Wall Street Journal (the “WSJ Prime”). On 09/15/2009, the Prime Rate was 3.25%. The minimum interest rate for all credit is 4.50%, resulting in the APRs disclosed above. The maximum interest rate for all credit is 20.00%. The rates above are preferred rates, 0.25% lower than our standard variable rates. To obtain a preferred rate, your monthly home equity line payments must be automatically debited from a North Shore Community Bank checking account. If automatic debit is terminated, your rate will increase by 0.25% for the life of the line. If account is closed within three years of inception, a $500 early termination fee will be assessed. Making just the required monthly payment of interest only will not reduce the principal balance of the loan and will result in a balloon payment equal to the sum of all advances when the loan matures. Offer applies to lines secured by owner-occupied, one- to four-family residences located in the state of Illinois with a maximum of 80% loan-to-value for lines under $1,000,000 and a maximum of 75% loan-to-value for lines of $1,000,000 and above. Approval is subject to the bank’s underwriting parameters. Property insurance is required. Rates are effective as of 01/08/09. Rates, terms and conditions are subject to change without notice.
