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Consumer Loans

At Bay State Savings Bank, we know that your personal life can be filled with unexpected or expected changes and you will need the financial flexibility to meet its demands. Our Consumer Loan options were designed to help simplify the process of borrowing without jumping through hoops and putting up collateral like houses or cars.

We Offer:

  • Personal Loans
  • Passbook, Statement Savings & Certificate Loans
  • Personal Loans, press enter to expand for more content

    Personal loans can be used for almost anything like debt consolidation, emergency expenses and special purchases. As long as your credit is approved, we are ready to assist you now.

    Loans Feature:

    • Minimum loan amount start at $1,000
    • Maximum loan amount to $10,000
    • In terms up to 60 months – determined by loan purpose and anticipated source of repayment
    • Professional attention
    • No collateral required

    * Annual Percentage Rates are accurate as of 1/16/2014 and may change at any time without notice. Payment amount on $10,000 loan for 36 months at 14.75% Annual Percentage Rate is $345.43.

    All loans are subject to credit approval.

  • Passbook, Statement Savings & Certificate Loans, press enter to expand for more content

    If you have a Bay State Savings Bank savings or a certificate of deposit (CD) account, you can borrow against them as a cost-effective way to get the funds you need fast. Apply for one of our secured loans to help pay tuition, make a major purchase or just enjoy some extra financial flexibility.

    Secured Loans Feature:

    • Prompt professional attention
    • Fast approval
    • Minimum loan amount of $500
    • Maximum loan term of 12 months or 1 year
    • Applicants can borrow up to 90 % of the monies held on account with Bay State Savings Bank
    • Maximum interest rate is 18.00%

    * Rate is accurate as of 1/16/2014 and may change at any time without notice. The loan rate on a passbook or statement savings loan is determined by adding 2.00% to the current Annual Percentage Yield (APY) on the passbook / statement savings account. The loan rate on a certificate loan is determined by adding 2.00% to the current Annual Percentage Yield (APY) on the certificate of deposit.

    All loans are subject to credit approval.

How to Apply

All loans are subject to credit approval.