Whether you prefer the personal attention that our lending professionals provide, or you like the convenience and ease of applying online, Rhode Island’s Coastway Community Bank’s loans have the perfect option to suit your needs! Jump to:

Home Equity Installment Loans/Home Equity Line of Credits

Account Description
Freeway Convertible PrimeLine Home Equity Line of Credit / Home Equity Installment Loan:Speak to a Customer Service Representative The FreeWay Convertible PrimeLine / home equity loan offers RI homeowners the flexibility of a Line of Credit for optimal access to the money they need. Then, should you decide at any point that you want the security of a fixed rate, converting your FreeWay Convertible PrimeLine to a Home Equity Loan is easy and fast. Perfect for home improvements, bill consolidation, vacation, a new car or a wedding.

 

Line of Credit Rate: Prime plus 0% APR* (Prime is currently 4.25%)*If you prefer the discipline of paying down your loan balance every month, a home equity loan installment will help you accomplish that goal.

 

Home Equity Loan Rate: 5 Year Fixed Rate Home Equity Loan: 4.00% APR* 10 Year Fixed Rate Home Equity Loan: 4.49% APR* 15 Year Fixed Rate Home Equity Loan: 4.99% APR*

 

*Click here for more information.

APPLY ONLINE:

Before applying for a home equity line of credit, you must read the disclosures linked below. Please click on the links to read. Once you’ve finished, print or save a copy of the disclosures for your records, and then click “Apply” to proceed to the application.

Click here to apply online. (I have read and understand the disclosures above.)

*APR = Annual Percentage Rate. All advertised rates require automatic payment deduction from a Coastway checking or savings account. Minimum loan amount to avoid closing costs is $25,000; otherwise, estimated closing costs of between $500 and $800 will apply. 1 – 4 family owner occupied primary residences only. Property insurance (including flood insurance, if applicable) is required. All advertised rates are the lowest available, and are subject to individual creditworthiness, including a maximum loan-to-value ratio of 80%. Other rates and terms are available and certain restrictions apply. Rates subject to change without notice.

Freeway Convertible PrimeLine– Advertised APR is based on the Wall Street Journal Prime Rate. As of June 16, 2017, the Prime Rate is 4.25%. Line of credit rates are variable and may change monthly after account is opened. Advertised rates require an active Coastway checking account (”active” is defined as a minimum of 3 transactions per month); otherwise, the rate will automatically increase by 0.50 percentage points and an annual fee of $100 will apply. Maximum APR is 21%. A pre-payment penalty of up to 1.0% of the balance due at the time the line of credit is paid off and closed will apply during the first two years.

Home Equity Loan– Repayment examples: If you borrowed $20,000 for 5 years at 4.00% APR, your monthly principal and interest payments would be $368.38. If you borrowed $20,000 for 10 years at 4.49% APR, your monthly principal and interest payments would be $207.23. If you borrowed $20,000 for 15 years at 4.99% APR, your monthly principal and interest payments would be $158.11. Payment examples do not include taxes and insurance. Your actual payment obligation may be greater than shown in the examples.

Overdraft Protection

Account Description

Overdraft Protection Speak to a Customer Service Representative Open an Account

With Coastway’s Overdraft Protection on your checking account, you’ll be covered in case of those “oops” moments when writing a check or using your debit card. It’s a line of credit with no annual fee that is used only when you overdraw your checking account. Peace of mind is built right in!

Vehicle Loans

Account Description

Auto Loans Speak to a Customer Service Representative Apply Online! Get an Insurance Quote!

Our auto loans feature rates as low as 3.99% APR* Mini Van? … or Sports Coupe? You make the big decisions. Coastway Community Bank will take care of the rest.

 

*Click here for more information.

*APR = Annual Percentage Rate. Special rate for new cars only, with terms up to 36 months. All advertised rates require automatic payment deduction from a Coastway account. All advertised rates are the lowest available, and are subject to individual creditworthiness. Other rates and terms are available and certain restrictions apply. New loans only. Not valid with any other offer. Rates subject to change without notice. Repayment example: The monthly payment based on a loan amount of $10,000.00 for 36 months at an interest rate of 3.99% is $295.20.

 

Motorcycle Loans Speak to a Customer Service Representative Apply Online! Get an Insurance Quote!

Motorcycle loan rates as low as 9.99% APR* Picture yourself on the open road. It’s closer than you think.

 

*Click here for more information.

*APR = Annual Percentage Rate. New up to 60 months, used up to 48 months. All advertised rates require automatic payment deduction from a Coastway account. All advertised rates are the lowest available, and are subject to individual creditworthiness. Other rates and terms are available and certain restrictions apply. New loans only. Not valid with any other offer. Rates subject to change without notice. Repayment example: If you borrowed $10,000 for 48 months at 9.99% APR, your monthly principal and interest payments would be $253.52.

 

RV Loans Speak to a Customer Service Representative Apply Online! Get an Insurance Quote!

Our RV loan rates start as low as 7.00% APR* Take the wheel of your dreams…

 

*Click here for more information.

*APR = Annual Percentage Rate. New or used, up to 60 months. All advertised rates require automatic payment deduction from a Coastway account. All advertised rates are the lowest available, and are subject to individual creditworthiness. Other rates and terms are available and certain restrictions apply. New loans only. Not valid with any other offer. Rates subject to change without notice. Repayment example: If you borrowed $10,000 for 60 months at 7.00% APR, your monthly principal and interest payments would be $197.99.

 

Personal Loans

Account Description

Savings / CD Secured Personal Loan Speak to a Customer Service Representative Get an Insurance Quote!

APY of Savings / CD plus 4.00 percentage points.* Personal loans from RI’s Coastway Community Bank offer a great rate on your loan and build your credit history at the same time.

 

*Click here for more information.

*APY refers to the Annual Percentage Yield of the savings or CD account pledged as collateral for the loans. The minimum Annual Percentage Rate (APR) on this loan type is 6.00%. Certain restrictions apply.

 

Please note: Coastway Community Bank uses Miniter Group to track vehicle, motorcycle, RV & boat loan insurance, as required by the terms and agreement in the Promissory Note. This is to assure that there is proper and active insurance coverage on the property. The address to send, or have your agent send the insurance Declaration Page is PO Box 5145 Norwell, MA 02061-5145, or you may fax it to (877) 585-8153.