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Special Rate on HELOC
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Special HELOC Rate

Special Introductory Rate on a Home Equity Line of Credit

2.99% APR* Introductory rate for 12 months from date of funding. Wall Street Journal Prime Rate on a monthly float thereafter until maturity with a Floor of 3.50% APR*

Whether you're consolidating debt, beginning a home improvement project, financing a major expense, or planning a dream vacation, a Home Equity Line of Credit from BankFive can help. And with our special offer, your HELOC starts with a 2.99% APR* during a 12-month introductory period before adjusting to a variable APR*. Use the equity in your Massachusetts or Rhode Island home to get the funds you need to turn your dreams into realities.
Also known as a HELOC, a Home Equity Line of Credit is secured by your home and offers you a revolving credit line to use for large expenses or to consolidate debt at a lower-interest rate. The amount of credit available to you is based on your home's market value, and current equity you have in your home.
Apply online or visit one of our branches to apply in-person.
Steve Gaul
February 22
Great effort to get us what we needed VERY quickly
Our experience with Bank5 and Mike/Alycia was great. We were in a huge hurry to get a new credit line (HELOC) in place. Alycia worked very closely with us and got all the paperwork done and got the credit line approved very quickly. No snags, no hassles, just getting the business done with a great positive attitude.
Interest Checking
0.50 %APY
with our eAccess Checking Account
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Additional Lending Solutions

We also offer Home Equity Loans with fixed interest rates and Home Energy Loans to help you make energy-efficient heating and cooling improvements.

Contact us today to explore the lending options BankFive can provide to you and your family.

*Annual Percentage Rate (APR) accurate as of 5/24/2022. The introductory APR of 2.99% will be in effect for the first 12 months of your loan. APR is variable and subject to change monthly beginning with the 13th billing cycle and is based on the highest Wall Street Journal Prime Rate on the last business day of each month. Rate will never exceed 18.00% APR. However, the APR can never go below the minimum APR of 3.50%. As of 5/24/2022, effective APR would be 4.00% based on Wall Street Journal Prime Rate of 4.00% and our current floor of 3.50% APR. Minimum monthly payment will be based on monthly interest due for the 10-year draw period followed by monthly interest due plus 1/120th of the principal for the remaining term of 10 years. Available on 1-6 family owner-occupied homes and condominiums only. Loans available from $10,000 up. If the Line is closed within 24 months, the Bank’s expenses must be repaid and can range from $500-$1500 depending on the requirements. All loans are subject to credit approval. Property insurance required. Flood insurance may be required. Additional fees applicable for Condo's, Life Estates and properties held in Trust. You may borrow up to 80% of the available equity you have in your home. All existing BankFive home loan refinances require an additional $10,000 new money. Requires automatic loan payment withdrawal from a BankFive checking account to receive introductory rate. Offer subject to change or termination at any time.

BankFive NMLS #525575 • Member FDIC • Member DIF • Equal Housing Lender