Personal Loan
Personal Loan Interest Rates
Rates as of November 20, 2019
Consumer Loan Special Offer!
For a limited time, we are offering a low 3.30% APR** for 3 year loans and 4.40% APR** for 4 year loans! You must have a minimum of 700 credit score.
| Credit Score* | Term | Interest Rate (Secured) | APR** | Interest Rate (Partially Secured) | APR** | Interest Rate (Unsecured) | APR** |
|---|---|---|---|---|---|---|---|
| 740 & Above | up to 48 Months | 4.50% | 4.50% | 6.50% | 6.50% | 8.50% | 8.50% |
| 740 & Above | 49 to 60 Months | 5.50% | 5.50% | 7.50% | 7.50% | -- | -- |
| 700-739 | Up to 48 months | 6.00% | 6.00% | 8.50% | 8.50% | 10.00% | 10.00% |
| 700-739 | 49 to 60 Months | 6.50% | 6.50% | 9.00% | 9.00% | -- | -- |
| 675-699 | Up to 48 months | 8.50% | 8.50% | 10.50% | 10.50% | 12.50% | 12.50% |
| 675-699 | 49 to 60 Months | 9.00% | 9.00% | 11.00% | 11.00% | -- | -- |
| 674 & Below | up to 48 Months | 9.50% | 9.50% | 11.50% | 11.50% | -- | -- |
| 674 & Below | 49 to 60 months | 10.00% | 10.00% | 12.00% | 12.00% | -- | -- |
Payment Examples - Secured Loans
| Credit Score* | Term | Amount | Monthly Payment | Total Loan & Interest |
|---|---|---|---|---|
| 740 & Above | 48 | $5,000 | $115 | $5,511 |
| 740 & Above | 60 | $5,000 | $96 | $5,770 |
| 700-739 | 60 | $5,000 | $99 | $5,911 |
| 675-699 | 60 | $5,000 | $103 | $6,199 |
| 674 & Below | 48 | $5,000 | $128 | $6,131 |
Payment Examples - Unsecured Loans
| Credit Score* | Term | Amount | Monthly Payment | Total Loan & Interest |
|---|---|---|---|---|
| 740 & Above | 48 | $5,000 | $123 | $5,917 |
| 700-739 | 48 | $5,000 | $127 | $6,088 |
| 675-699 | 48 | $5,000 | $133 | $6,381 |
*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.
- Loans subject to credit approval
- Interest rates and programs are subject to change without notice
- Loans under $2,500 must be kept to a maximum term of 48 months
- Loans $10,000 and above must be fully secured
- Interest rates will be discounted 0.25% with Auto Pay from a Chemung Canal checking or savings account
**APR = Annual Percentage Rate. Minimum 700 credit score required – subject to credit approval. Minimum loan amount of $2,500 required. Loans greater than $10,000 must be fully secured. Maximum term is 48 months. A $10,000 fully secured loan with a four-year term and a 4.40% APR will require 48 monthly payments of $226.75. Not valid for single-pay loans, credit-builder loans and trust-secured lines of credit. Interest rates and programs subject to change without notice. Applications must be received by November 30, 2019 to be eligible for the promotional APR. No additional rate discounts given for auto pay.