Loan Rates

Loan Type

Term

APR*

1 Vehicle Loans

Automobiles up to 5 years old

up to 48 months

3.50% – 13.50%

49-60 months

3.75% – 13.75%

61-72 months

4.25% – 14.25%

73-84 months***

5.25% – 15.25%

6 year old vehicles

up to 48 months

4.75% – 14.75%

49-60 months

5.00% – 15.00%

7 year old vehicles

up to 48 months

4.75% – 14.75%

Recreational Vehicles (Campers, Jet Skis, Dirt Bikes, Motorcycles, ATV’s, Boats, and Farm Equipment)

up to 5 years old

up to 48 months

4.50% – 14.50%

49-60 months

4.75% – 14.75%

61-72 months

5.25% – 15.25%

73-84 months***

6.25% – 16.25%

up to 6 years old

up to 48 months

5.75% – 15.75%

49-60 months

6.00% – 16.00%

up to 7 years old

up to 48 months

5.75% – 15.75%

2 Signature Loans

up to 48 months

7.75% – 18.00%

CASHLINE

Signature Secured

12.00%

Share Secured

7.00%

Share Secured Loans

36 months

3.00%

36+ to 60 months

3.50%

60+ to 120 months

5.00%

3 Real Estate Secured (primary residence)**

Fixed Rate

5 years

4.00% – 13.50%

Fixed Rate

10 years

4.00% – 13.50%

Fixed Rate

15 years

4.00% – 13.50%

4 Home Equity Line of Credit

(variable rate)****

12 years

4.25%

(current rate)

Automatic Payment: You will receive a discount of 0.25% on your Annual Percentage Rate (APR)* if you make your payments automatically from a Salem VA Credit Union Checking or Savings account.** If you discontinue making your payments automatically, your APR may be increased to the current rate. Automatic payment discount does not apply to Real Estate loans.

 

1Approximate loan payment is $370.59 on a $20,000 auto loan at 4.25% and a 60 month term.

2Approximate loan payment is $366.19 on a $15,000 signature loan at 8.00% and a 48 month term.

3Approximate loan payment is $739.69 on a $100,000 home loan at 4.00% and a 180 month term.

* APR is Annual Percentage Rate.

 

** Real Estate loans may not exceed 80% of the value. Automatic payment discounts are excluded from real estate secured loans.

 

*** 73-84 month term requires minimum loan of $15,000

 

**** HELOC rates are based on prime +1% APR and are subject to change quarterly. Repayment term is 12 years. Advances can be taken for 15 years. Minimum of $5,000 and maximum of $750,000 can be taken, but may not exceed 80% of the value.

4Approximate loan payment is $887.72 on a $100,000 home Equity loan at 4.25% and a 144 month term.

 

All rates are subject to change without notice. The rate will be based on creditworthiness, term of the loan, and value of collateral offered to the amount of the loan. Payment estimates do not include taxes or insurance and may be higher may be greater.