Consumer Loan Rates

Effective November 18, 2008

Loan Rates are subject to change at any time. The low loan rates listed below are our best rates based upon approved underwriting standards. Actual interest offered may be higher depending on other underwriting factors.

APR (Annual Percentage Rate) is based on a loan amount of $10,000.00.

Auto Loans

Home Improvement Loans

Unsecured Personal Loans

Passbook Loans

Fixed Rate Equity Loan

* Above Interest rates reflect a .25% discount with the monthly payment being automatically withdrawn from your Merrimac Savings deposit account. Without an automatic payment, please add .25% to the above interest rate.

Merrimac Savings Bank will pay for attorney and appraisal fees, if needed. Borrowers will be responsible for recording fees. Trust review fees may apply for properties held in a Realty Trust.

Minimum Loan amount $25K. Maximum combined loan-to-values of 80% for owner occupied 1-4 family properties, and 70% for owner occupied condominums/townhomes. Property insurance is required, flood insurance may be required if applicable. Interest paid may be tax deductible, contact your tax advisor regarding the deductibility of interest. Rates are subject to change without notice. Prepayment fee of $300.00 will be assessed if paid off by another lender within the first three years, except for those Fixed Rate Second Mortgages closed in first mortgage position. Other terms and conditions may apply.

Home Equity Line of Credit

The Annual Percentage Rate on our Home Equity Credit Line will vary once each month and is based on The Wall Street Journal Prime Rate as published on the last publication day of the month. As of October 31, 2008, the Prime Rate in effect was 4.00%. . Loan to Value ratio cannot exceed 80% of the value of the 1-4 family owner occupied primary residence (70% for condominiums and vacation homes). Property insurance is required. Interest paid may be tax deductible, contact your tax advisor regarding the deductibility of interest. Rates are subject to change without notice but will never exceed 18%. Prepayment fee of $300 will be assessed if the line is paid off and closed within the first three years. The rate will be discounted by .25% if the monthly payment is automatically withdrawn from your Merrimac Savings Bank deposit account. Other terms and conditions apply.

Adjustable Rate Mortgages

Effective November 18, 2008

• Mortgage rates and APR’s (Annual Percentage Rate) are subject to change at any time.
• Actual interest rate offered may be higher or lower based on approved underwriting standards.
• Interest Rate will float until time of approval. Rate may be locked at the time of approval, or locked up to 5 business days prior to closing.

*Annual Percentage Rate (APR) based on 20% down payment; loan amount of $100,000.  1 year T-bill 1.12% as of 11/18/2008 and a 30 year term. APR may increase after consummation of the loan.

Fixed Rate Mortgages

Effective November 18, 2008

• Mortgage rates and APR’s (Annual Percentage Rate) are subject to change at any time.
• Actual interest rate offered may be higher or lower based on approved underwriting standards.
• Interest Rate will float until time of approval. Rate may be locked at the time of approval, or locked up to 5 business days prior to closing.

*Fixed Rate APRs (Annual Percentage Rate) based on 20% down payment, loan amount of $100,000, and product term.

Fixed Rate Manufactured Home Loans (1 Point) (Mobile Homes in Parks)

Effective November 18, 2008

*Fixed Rate APRs (Annual Percentage Rate) based on 20% down payment, loan amount of $100,000, one point, and product term.

First Time Home Buyer

All First Time Home Buyer Applicants Will Receive A $500 Credit At The Time Of Closing.

Effective November 18, 2008

*Fixed Rate APRs (Annual Percentage Rate) based on 20% down payment, loan amount of $100,000, zero points, and product term.