Save on Interest
February 25th, 2011
If your credit card interest rates have skyrocketed lately, you’ve noticed the dent it puts in your budget with higher monthly payments. An equity line of credit may be a great option to help you consolidate high interest credit card debt into a more manageable, lower interest rate monthly payment.
Here’s an example to illustrate the potential savings:
Credit card vs. Equity Line
With an annual percentage rate of 3.25%, a Marlborough Savings Bank equity line of credit could save you thousands of dollars in interest and shorten the length of time you are paying off the loan.
If you already have a line of credit with us, simply pay off your credit cards by writing a check from your equity account. If you’re considering an equity line of credit, give us a call at 508-481-8300 and we’ll get you started. It’s easy and you’ll be on your way to a better way to pay in no time.
