Rates

BenchSmart Federal Credit Union Lending Rates
Effective: January 1, 2014

Description Term Daily Periodic Rate APR Rate
New Automobile, New Watercraft, Motorcycle, ATV 72 months 0.005452% - 0.049288% 1.99% - 17.99%
Used Automobile, Used Watercraft, Mtoorcycle, ATV 72 months 0.005452% - 0.049288% 1.99% - 17.99%
New/Used Farm Equipment 72 months 0.018493% - 0.049288% 6.75% - 17.99%
New/Used RV's 120 months 0.017781% - 0.049288% 6.49% - 17.99%
Misc New Consumer Goods 48 months 0.024521% - 0.049288% 8.95% - 17.99%
Real Estate - Acreage 120 months   Based on WSJ Prime
Signature 36 months 0.024521% - 0.049288% 8.95% - 17.99%
Share Secured

The ANNUAL PERCENTAGE RATE (APR) will be the dividend rate currently being paid on the subaccount plus a margin of 3.00% (minimum APR of 4%). The interest rate is subject to change whenever the dividend rate changes. A change in the dividend rate will result in a change in the ANNUAL PERCENTAGE RATE and the daily periodic rate for the subaccount. Increases in the rate could result in additional monthly payments of the same amount. The actual daily periodic rate and ANNUAL PERCENTAGE RATE for this subaccount will be disclosed on the voucher accompanying the advance.

Certificate Secured

The ANNUAL PERCENTAGE RATE (APR) will be the dividend rate being paid on the Certificate offered as security plus a margin of 3.00% (minimum APR of 4%). The Certificate must be renewed until the advance is completely paid. Failure to renew will result in default under the Plan. When the Certificate is renewed the APR will change to reflect the new dividend rate. If there is an existing balance on the date of the new advance, the existing balance will be added to the new advance and the entire balance will be at the new APR. Any increase in the APR will result in more payments of the same amount until what you owe has been repaid. The ANNUAL PERCENTAGE RATE and daily periodic rate will be disclosed on the voucher at the time of the advance.

Range of Rates

If a range of rates is shown the ANNUAL PERCENTAGE RATE will be within the range disclosed and is determined by your creditworthiness. Please ask the Loan Officer for your particular rate.

Filing Fee

You may be charged a lien-filing fee at the time of an advance if the credit union takes a security interest in your collateral. The amount of the fee will be based upon the amount of the fee required by state law for the credit union to obtain a lien on your property and will be disclosed at the time of the advance.

Late Payment Fee

A late payment fee of 5% of your payment amount with a minimum of $20 will be assessed if you are 10 days late in making a payment. For example: "If you are 10 days late in making a payment, you will be charged 5% of the payment with a minimum of $20.

Loan Application Fee

You will be charged a Loan Application fee of $20.00.

Returned Payment Fee

If your payment is returned to us, you will be charged $30.00 for each returned payment.

Collection Costs

You agree to pay all costs of collecting the amount you owe under this Agreement, including court costs and reasonable attorney's fees.