Home Improvement Rates

Home Improvement Interest Rates


Our loans can make you raise the roof--literally--with our special loan interest rates!

CONSUMER LOANS
2.00% APR* with terms up to 36 months
3.00% APR* with terms up to 60 months

Let's make it happen!

For a limited time, you can take advantage of our special promotional interest rates.

*Annual Percentage Rate (APR) is based on evaluation of applicant’s credit and actual APR may vary. Subject to credit approval. New money of at least $2,500 required for promotional APR. Loans $10,000 and above must be fully secured. Maximum term is 60 months. A $10,000 fully-secured loan with a 4-year term and a 3.00% APR will require 48 monthly payments of $221.34. Interest rates and programs are subject to change without notice. Not valid for single-pay loans, credit-builder loans or trust-secured lines of credit.

 

Rates as of April 1, 2014

Home Improvement Loans

Credit Score*

Term

Interest Rate - Unsecured

Interest Rate - Secured
700 & Above Up to 48 Months 6.50% 5.50%
  49 to 60 Months 7.50% 6.50%
  61 to 84 Months 8.00% 7.00%
  85 to 120 Months 9.00% 8.00%
650 to 699 Up to 48 Months 7.50% 6.50%
  49 to 60 Months 8.00% 7.00%
  61 to 84 Months 8.50% 7.50%
  85 to 120 Months 10.00% 9.00%
649 & Below Up to 48 Months 8.50% 7.50%
  49 to 60 Months 9.50% 8.50%
  61 to 84 Months 10.50% 9.50%
  85 to 120 Months -- 10.00%

Home Improvement Loan Payment Examples - Unsecured

Credit Score*

Term  
(months)    

Amount Borrowed

Monthly Payment

Total Loan & Interest

APR**

700 & Above 60 $7,500 $150.25 $9,015.00 7.490%
650-699 60 $7,500 $152.07 $9,124.38 7.991%
649 & Below 60 $7,500 $157.51 $9,450.84 8.491%

Home Improvement Loan Payment Examples - Secured

Credit Score*

Term
(months)

Amount Borrowed

Monthly Payment

Total Loan & Interest

APR**

700 & Above 60 $7,500 $146.75 $8,804.77 6.493%
650-699 60 $7,500 $148.51 $8,910.54 6.992%
649 & Below 60 $7,500 $153.87 $9,232.44 8.491%

* Credit scores are based on information collected by credit bureaus and information reported each month by your creditors about the balances you owe and the timing of your payments. A credit score is a compilation of all this information converted into a number that helps a lender to determine the likelihood that you will repay the loan on schedule. The credit score is calculated by the credit bureau, not by the lender. Credit scores are calculated by comparing your credit history with millions of other consumers.

**Annual Percentage Rate

  • Loans subject to credit approval
  • Interest rates and programs are subject to change without notice
  • Loans $7,500 and above require a collateral mortgage or other sufficient collateral
  • Interest rates will be discounted 0.25% with Auto Pay from a Chemung Canal checking or savings account 
  • Loans under $5,000 - maximum term up to 60 months
  • Loans $5,000 to $10,000 - maximum term up to 120 months
     

 

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