When you choose to get a loan at Roxboro Savings Bank, we think you want a loan with us, not with some other bank. So we service every loan we make, never passing one off to another institution. We also listen, and match you with the best loan for your need, often approving your loan before you leave the branch.
Want to pay your loan off early? No problem; there are never any prepayment penalties on our personal loans.
- $2,500 minimum loan amount
- Loan proceeds normally available same day, payable to you or designated party
- Terms are flexible, up to 5 years for most secured loans and longer for home equity term loans, manufactured home loans and land loans
- Highly competitive rates, typically fixed, which vary depending on collateral, borrower's credit history and repayment term
- Loans are fixed rate, except those secured by a Roxboro Savings Bank CD (2% above the rate being paid on the CD; interest rate floor or minimum may apply)
- 1% discount is available to borrowers who have their first mortgage with us (discount not available on CD loans)
- Payments can be made in person at either branch office, by mail, or by automatic deduction from a Roxboro Savings Bank checking or savings account*
*automatic deductions can also be made from accounts at other financial institutions
- Credit limits from $5,000 and up
- Line is secured by a first or second mortgage on your primary personal residence
- Lines less than $25,000 have a variable rate of Prime plus 1.00% and lines from 25,000 to $49,999 have a variable rate of Prime plus 0.50%
- Lines of $50,000 or more have a variable rate of Prime
- Line can be accessible for as long as 15 years
- Easy access using free custom checks
- Monthly statements with payments due of 1.5% of the outstanding balance or $100, whichever is greater**
- If the line has no balance, a payment will not be due
- Payments can be made in person at either branch office, by mail, or by automatic deduction from a Roxboro Savings Bank checking or savings account***
*Consult your tax advisor
**Interest only option may also be available to qualified borrowers
***Automatic deductions can also be made from accounts at other financial institutions
