Personal Banking
Personal Lending
Personal Loans
A fixed rate loan for vacation, consolidating debt, medical expenses, home improvement, or other purposes.
- Approvals usually within 48 hours of application.
- Preferred rates are available for customers who have automatic deduction of their loan payment from a Bank of Smithtown account.
- No fees or hidden expenses - no prepayment penalty.
- If you use your Bank of Smithtown savings or money market account, or CD as collateral you will receive a reduced interest rate on the loan. You can borrow up to 90% of the value of the collateral. You also receive your funds immediately without going through the loan approval process.
- Reduce all your monthly payments and payoff high balance credit cards.
- Make the home improvements you need now.
- Credit life and disability insurance are available on all loans.
Auto Loans
Finance the new or used car you need usually within 48 hours.
- You can receive loan preapproval before you shop for a car.
- Rates are very competitive, and preferred rates are available to customers who have automatic deduction of their loan payments from a Bank of Smithtown account.
- Rates and terms vary depending upon year of automobile.
- No hidden expenses or prepayment penalty.
- Low down payment requirement.
- Loans available in amounts of $2000 or more.
- Credit life and disability insurance are available on all loans.
Overdraft Protection
Overdraft protection is a credit line (maximum $10,000) attached directly to your checking account. Advances are made automatically to your checking account should you write a check that would cause your account the be overdrawn.
- You won't have any "bounced" checks.
- Avoid returned check fees.
- You'll be charged interest only on the outstanding balance of your line.
- You have the option of paying the balance in full or making a minimum payment.
- Credit life insurance is also available.
Line of Credit
A separate revolving credit line, with an approved maximum of $25,000, that you can access by writing a check.
- Access this line of credit anytime, without filling out new applications or repeating the loan approval process.
- Pay interest on only the amount advanced.
- You receive a separate account with a supply of checks specific to this account.
- As you pay down the line, the amount becomes available as credit again.
- You'll receive a monthly statement indicating the minimum payment due as well as the amount necessary to pay the balance in full.
- Credit life insurance is available on the Line of Credit.
