Interest Rates | EVB | Richmond - Mechanicsville - Gloucester | VA

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Rates

Rates

Earn great rates on great EVB products!  For more information on our products and rates, call us at 888.464.2265.  Rates effective 08/13/15. 

Checking Rates**

Account NameMinimum DepositInterest RateAPY*
KASASA Cash Checking $100.00

2.23%

on balances up to $15,000 if qualifications are met

2.25%

0.25%

on balances over $15,000 if qualifications are met

0.25%

0.05%

on balances if qualifications are not met

0.05%

Savings Rates**

Account NameMinimum DepositInterest RateAPY*
KASASA Saver $100.00

0.99%

on balances up to $25,000 if qualifications are met

1.00%

0.25%

on balances over $25,000 if qualifications are met

0.25%

0.05%

on balances if qualifications are not met

0.05%

* APY is the Annual Percentage Yield on the account

**Legal Disclosures – See Accounts Page for each type of account for more information

Some accounts will assess a $25.00 charge if closed within 6 months of opening

All Savings and Checking Accounts: the interest rate and APY may change after account opening.

Certificates of Deposit – Please call us for rates on CDs and CDARs.

Home Equity Line of Credit (HELOC)

  • Low rate of 1.99% APR for the first 12 months, thereafter, variable 3.49% APR
  • No closing costs on loans up to $100,000
  • Interest only payment options available
  • No application fees or annual fees
  • Interest may be tax deductible

 

*EVB's Home Equity Line of Credit (HELOC) features a fixed introductory rate of 1.99% APR for the first 12 months of your loan. After the first 12 months, your interest rate will be based on a rate of WSJ Prime Rate plus 0.24% APR. The Wall Street Journal Prime Rate on April 1, 2015 was 3.25%. Your APR will change at any time that the WSJ Prime Rate changes. The maximum APR will not exceed 18% and after the first 12 months, the minimum APR will be 3.49%. All products permit you to draw on your line up to the maximum loan approved for 10 years; you will repay principal and interest for the remaining 20 years. During the 10 year draw period, you may choose monthly payments of interest-only or a payment of 1.5% of the principal and interest outstanding. Closing costs are waived for lines up to $100,000 and will vary for higher lines of credit. Applications are subject to credit approval which is based on several factors, including your credit history, loan to value ratio, property type, and lien status. Not all applicants will qualify for the 1.99% APR offer. If you close your HELOC within the first 36 months, an early termination fee will apply. EVB may require an initial draw of $10,000. Consult your tax advisor about the deductibility of interest and other costs. Certain other restrictions apply. Limited time offer and may be withdrawn at any time.