SBD Home Equity Line of Credit
Take the bite out of those expensive surprises
An SBD Home Equity Line of Credit gives you a great rate now... and for the life of the loan.
Be ready for those unplanned expenses or important future plans like college, home improvements, vacations, or even a boat!
You can do all those important things you thought you couldn't afford, using the equity in your house.
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Just as important, an SBD Home Equity Line of Credit gives you a great rate of 1/2% below prime... For The Life of The Loan!
If prime goes up, you're protected with a 6% cap over your original rate. No matter what prime does, your rate is always 1/2% below prime and never more than 6% above your original rate, whichever is lower. In addition, the interest you pay may be tax deductible*.
As of May 1, 2008 the APR is 4.500% based on a current prime rate of 5.000%.
Rate can vary monthly. Annual fee of $35.00 is waived for the first year.
If loan is paid off during the first year, a prepayment penalty of $300.00 will be charged.
*Consult with your tax advisor regarding deductibility of interest.
Savings Bank of Danbury offers financing on properties located within its lending area.
For more information, call us at (203) 743-3849, email us via web site or stop by any one of our convenient local branches.
*Restrictions may apply. Offer may be withdrawn at any time. Property insurance is required.
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Last Revised:
May 1, 2008
