Loan Rates
Loans
| Loan Type | Annual Percentage Rate (as low as) |
|---|---|
| Home Equity Line of Credit ++++ | 8.50% |
| Home Equity Loan+ | 6.55% |
| Land Loan++ | 7.55% |
| New Mobile Home Loans+++ | 7.80% |
| Mobile Home and Land Loan | 7.30% |
| New Auto | 5.24%* |
| Used Auto | 5.24%* |
| Boat & Jet Ski Loans | 6.24%* |
| ATV & Motorcycle Loans | 6.24%* |
| Travel Trailer & Motor Homes | 6.24%* |
| New/Used Purchase | 6.24%* |
| VISA Credit Cards | 8.99**** |
| Unsecured Loans | 9.99% |
| Share Certificate Secured Loans | 5.25%** |
| Share Secured Loans | 3.50%*** |
Rates are effective as of September 11, 2023. Rates are subject to change without notice. Interest rates may be higher based on an evaluation of your credit performance and a down payment may be required. Ouachita Valley Federal Credit Union does business in accordance with the Equal Credit Opportunity Act.
Annual Percentage Rate
*Rate includes a .25 rate reduction for payroll deduction or auto transfer of payments.
**2% above current CD Rate (rate listed for 6 month CD)
*** 3% above current Regular Savings Rate
**** The Annual Percentage Rate ranges from 8.99 % - 17.99% and is based on certain credit-worthiness criteria. Click on the “Credit Cards” tab at the top for terms on the credit card program.
Terms of Repayment
+96 monthly payments of $12.42 per $1000. borrowed.
++ 84 monthly payments of $14.86 per $1000. borrowed.
+++144 monthly payments (12 years).
++++ The annual percentage rate may vary. The maximum annual percentage rate that may be imposed in a variable rate plan is 12%
Consult your tax advisor regarding the deductibility of interest and charges for the plan. The interest rate will vary based on the independent index which is the Wall Street Journal Prime Rate. We will use the most recent index value available as of 10 days before the date of any annual percentage rate adjustment. The annual percentage rate can change semi-annually on the first day of January and July. The rate cannot increase or decrease more than 4.0 percentage points in any one year period. The maximum ANNUAL PERCENTAGE RATE that can apply is 12.% or the maximum permitted by law, whichever is less. However, under no circumstances will your ANNUAL PERCENTAGE RATE go below 4.0% at any time during the plan. You must pay certain fees to third parties to open the plan. These fees generally total between $100 and $1,500. If you ask, we will provide you with an itemization of the fees you will have to pay third parties. Home equity lines of credit have a 5 year draw period and a 10 year repayment period. Property insurance may be required, including flood insurance if applicable.
Annual Percentage Rate
*Rate includes a .25 rate reduction for payroll deduction or auto transfer of payments.
**2% above current CD Rate (rate listed for 6 month CD)
*** 3% above current Regular Savings Rate
**** The Annual Percentage Rate ranges from 8.99 % - 17.99% and is based on certain credit-worthiness criteria. Click on the “Credit Cards” tab at the top for terms on the credit card program.
Terms of Repayment
+96 monthly payments of $12.42 per $1000. borrowed.
++ 84 monthly payments of $14.86 per $1000. borrowed.
+++144 monthly payments (12 years).
++++ The annual percentage rate may vary. The maximum annual percentage rate that may be imposed in a variable rate plan is 12%
Consult your tax advisor regarding the deductibility of interest and charges for the plan. The interest rate will vary based on the independent index which is the Wall Street Journal Prime Rate. We will use the most recent index value available as of 10 days before the date of any annual percentage rate adjustment. The annual percentage rate can change semi-annually on the first day of January and July. The rate cannot increase or decrease more than 4.0 percentage points in any one year period. The maximum ANNUAL PERCENTAGE RATE that can apply is 12.% or the maximum permitted by law, whichever is less. However, under no circumstances will your ANNUAL PERCENTAGE RATE go below 4.0% at any time during the plan. You must pay certain fees to third parties to open the plan. These fees generally total between $100 and $1,500. If you ask, we will provide you with an itemization of the fees you will have to pay third parties. Home equity lines of credit have a 5 year draw period and a 10 year repayment period. Property insurance may be required, including flood insurance if applicable.
