Online Banking

Home Equity Line of Credit (HELOC)

Your home provides a place for making memories, security, and can also become a form of financing for other needs. At Monson Savings, we’ll help you transition the equity in your home into a means of budget-friendly financing for anything from renovating a kitchen to walking down the aisle.  Pay it down as you go and reuse as necessary without applying for an entirely new loan. A Home Equity Line of Credit gives you flexibility to address needs as they arise.


2.49% fixed APR for 12 months* then Prime.  Currently, Prime is 5.25%.

Apply online, come in and see us or call us today!

*Rates are accurate as of 8/6/2019.  The special rate is automatically applicable for the first 6 month period.  After the first 6 months, the rate will be variable based on the Prime Rate published in the Wall Street Journal.  The special rate will be extended for an additional 6 months if the borrower signs up for and maintains automatic payments for this Home Equity Line of Credit from a Monson Savings Bank checking account prior to closing on the loan.  In this case, after the first 12 months, the rate will be variable based on the Prime Rate published in the Wall Street Journal.  The maximum APR is 18%. An early termination fee of $500 will apply if loan is paid and discharged within 36 months from date of origination. Property insurance is required. Minimum line amount is $7,500. The interest paid on a home equity loan or credit line may be tax deductible depending on your particular tax status. Consult your tax advisor regarding tax deductibility. Not available to existing Home Equity customers. Offer can end at any time without notice. There are no points, no closing costs, and there are no appraisal fees unless you request us to use a value different than your town’s assessed value, and that appraisal cost would be your responsibility. Credit offer is subject to credit approval.

  • Competitive rates for ongoing or seasonal needs
  • Use funds as you see fit:
    • Education expenses
    • Major life events
    • Home improvements
    • Debt consolidation
    • Emergency reserve
    • And more
  • The existing equity in your home is used as collateral
  • Access to funds as you need them; apply once, then use repeatedly thereafter
  • Pay it off and use it again
  • Interest is charged on only what you use
  • The interest paid may be tax deductible*
  • Local decision-making and processing
  • Personal approach to service from knowledgeable loan advisors

Learn More

Visit our convenient online lending center to check current rates, discover helpful resources, learn more about our process, and to apply online with ease!

*Consult a tax advisor.