North Arundel Savings Bank

Consumer Loans

Auto, Boat, Commercial Vehicle Loans

  • Loans available for new and pre-owned vehicles 2012 and newer. Models older than 2011 may be considered.
  • Loans for boats - minimum finance amount is $5,000
  • Loans for commercial vehicles.
  • Prequalify your loan with us.
  • Convenient, automatic payments from your checking account

APPLYING FOR A CAR OR BOAT LOAN

What you will need:

  • Two recent paystubs and last year's W-2 Form, or two years tax returns if self employed
  • List of credit accounts, monthly debts and employment history included in a completed application
  • Copy of the bill of sale
  • Must be titled in the State of Maryland
  • Down payment required on: New Auto Loans: 10%
  • Down payment required on used autos only through a dealer: 20%
  • Down payment required on new boat loans: 20%
  • Maximum monthly debt to income ratio: 43%. Divide your monthly debts (mortgage or rent payment, monthly installments & credit card payments) by your gross monthly income.

Share Loans

  • Use your savings as collateral for a loan.
  • Borrow a maximum of 90% of your available savings balance
  • Rates and terms based on collateral pledged depending on whether it's a statement savings or a certificate of deposit (CD).