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Consumer Loans

Personal Loans

Term APR* Monthly Payment per $1,000 borrowed
12 months 13.000% $89.32
24 months 13.000% $47.54
36 months 13.000% $33.69
48 months 15.000% $27.83
60 months 15.000% $23.79
Maximum loan: $10,000. Minimum loan: $1,000.
*Annual Percentage Rate (APR) effective as of 4/20/2024 and is subject to change without notice.
Please note: Additional rates and terms available. All loans are subject to credit approval. All rates are subject to change.

Auto Loans

New Auto

Term APR* Monthly Payment per $1,000 borrowed
36 months 5.750% $30.31
48 months 6.500% $23.71
60 months 6.750% $19.68
10% downpayment required.

Used Auto (2020-2023)

Term APR* Monthly Payment per $1,000 borrowed
36 months 6.750% $30.76
48 months 7.500% $24.18
90% of Purchase Price or the Finance Value, whichever is less.
*Annual Percentage Rate (APR) effective as of 4/20/2024 and is subject to change without notice.  All auto loans require a $30.00 Vendors Single Interest (VSI) fee.
Please note: Additional rates and terms available. All loans are subject to credit approval. All rates are subject to change.

HEAT Loans

Micro HEAT Loan

Term APR* Monthly Payment per $1,000 borrowed
12 months 0.000% $83.33
24 months 0.000% $41.66
Minimum loan amount: $500.00. Maximum loan amount $2,000.

HEAT Loan

Term APR* Monthly Payment per $1,000 borrowed
12 months 0.000% $83.33
24 months 0.000% $41.66
36 months 0.000% $27.78
48 months 0.000% $20.83
60 months 0.000% $16.67
72 months 0.000% $13.89
84 months 0.000% $11.90
Minimum loan amount: $2,001.00. Maximum loan amount $15,000.

Expanded HEAT Loan

Term APR* Monthly Payment per $1,000 borrowed
12 months 0.000% $83.33
24 months 0.000% $41.66
36 months 0.000% $27.78
48 months 0.000% $20.83
60 months 0.000% $16.67
72 months 0.000% $13.89
84 months 0.000% $11.90
Minimum loan amount: $15,001.00. Maximum loan amount $25,000.
 

*The Annual Percentage Rate (APR) is effective as of 4/20/2024 and applies to 1-4 Family Owner Occupied and Non-Owner Occupied Dwellings.

Minimum loan amount for Non-Owner Occupied Dwelling is $5,000.

  • Borrower must have received an "energy efficiency review" from a HEAT energy auditor with a recommendation for improvements and an estimate. If you have not, please apply for an East Cambridge Savings Bank Home Improvement loan.
  • Subject property must be located in Arlington, Belmont, Cambridge, Chelsea, Everett, Lexington, Lynn, Malden, Medford, Newton, Revere, Saugus, Somerville, Waltham, Watertown, Winchester, and Woburn MA.
  • East Cambridge Savings Bank policy allows for no more than one HEAT loan per customer.
  • Closing must take place at an East Cambridge Savings Bank Banking Center.
  • Loan request must be in the name of a natural person and not a Trust or LLC.
  • Required documentation for HEAT loans: HEAT Intake Form (issued through MassSave); HEAT Authorization Form (issued through MassSave); Pay stubs representing one consecutive month for all applicants; Current Federal Tax returns (all pages, W2s & schedules) if self-employed; Copy of current mortgage statement or bill; Copy of current real estate tax bill; Copy of property deed.
  • Payment example: $25,000 loan amount, 0% Annual Percentage Rate (APR), 84 monthly payments of $297.62.
  • Other restrictions may apply.
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