Travel plans for Independence Day? Let us know if you’ll be traveling out of the tri-state area to ensure your Merchants Bank debit or credit cards continue to work. Submit a travel alert in Online & Mobile Banking or call us at (866) 496-0522. Have a safe holiday!
Military Banking
A special checking account for those who are serving or have served in the military. We are humbled by your willingness to sacrifice and honored to offer this account as a small thank you for your service.
Features
Savings Account bonuses available:
Credit and Loan account discounts available:
† Merchants Mobile Banking is free, however, text or data charges may be imposed by your mobile provider. Check your plan for details. Your carrier may limit access outside the U.S.
1. Rental of smallest size box available or the value of the smallest size box may be discounted from the annual fee of a large size box.
2. $50 minimum deposit required for Basic Savings Account. $1,000 minimum deposit required for Advantage Savings Account. Owner of Military Banking Account must also be named an owner on this account. $10 limit per customer.
3. Owner of Military Banking Account must also be named an owner on this account. $5 limit per child.
4. Owner of Military Banking Account must also be named an owner on this account. $10 limit per customer.
5. Offer available on new purchase residential mortgage loans or residential construction loans only. One coupon offer available per loan.
6. Subject to credit approval. As of June 16, 2022, the Annual Percentage Rate on a home equity line of credit with an 80% or less loan-to-value and a credit score greater than or equal to 700 was 4.50%. This special offer has fixed-rate pricing as low as 2.9% APR for the first six months, based on relationship reward discounts. Following that six-month period, the rate will become variable, subject to change, based on U.S. Bank, N.A., prime rate plus a margin that is determined based on the loan-to-value in your home and your credit score at the time of application. Current rates vary from 4.50% to 7.25% APR. Maximum possible APR is 18%. Minimum possible APR is 4.00%. An origination fee may apply, in addition, you are responsible for certain fees to third parties, such as appraisers, credit reporting firms and government agencies, which are generally from $100–$1,000. Following the first year, there will be an annual fee of $25. Offer available on new home equity lines of $10,000 or more only or on existing lines of credit with an increase of at least $10,000. Consult your tax advisor regarding the deductibility of interest expense. Property insurance will be required. Limited time offer.
7. Subject to credit approval.
8. 15.59% Annual Percentage Rate. Following the first year, there will be an annual fee of $30.
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