Borrowing

At Norwood Bank, we believe in offering personal lending solutions that are affordable and tailored to your needs. Whether you’re looking for an auto loan or a personal loan / line of credit, we’re here to help. Stop by our main branch in Norwood, MA to learn how you can apply for a consumer loan.

Loan Rates as of Tuesday, March 28th, 2017

Personal Installment Loan with Advantage Checking

TermAPRPayment Per $1,000
12 months12%$88.85
24 months12%$47.07
36 months12%$33.21

New Auto Loans with Advantage Checking

TermAPRPayment Per $1,000
24 months6.99%$44.77
36 months6.99%$30.87
48 months6.99%$23.94
60 months6.99%$19.80

Used Auto Loans with Advantage Checking

TermAPRPayment Per $1,000
24 months7.99%$45.22
36 months7.99%$31.33
48 months7.99%$24.41
60 months7.99%$20.27

Personal Installment Loans

TermAPRPayment Per $1,000
12 months13%$89.32
24 months13%$47.54
36 months13%$33.69

New Auto Loans

TermAPRPayment Per $1,000
24 months7.99%$45.22
36 months7.99%$31.33
48 months7.99%$24.41
60 months7.99%$20.27

Used Auto Loans

TermAPRPayment Per $1,000
24 months8.99%$45.68
36 months8.99%$31.80
48 months8.99%$24.88
60 months8.99%$20.75

Overdraft Protection Account

TermAPR*Payment per $1,000
Revolving18%n/a

*APR= Annual Percentage Rate

The application process requires a completed application, two most recent paystubs, or tax returns if self-employed. Minimum personal loan amount is $1,000 to a maximum of $7,500. Auto loan applications should include a copy of the purchase and sale agreement from the auto dealer, or a copy of the existing title if a private sale. An insurance binder is required at closing. A 20% down payment is required for new auto loans, and a 25% down payment is required for used auto loans.