When it's time for them to leave home,

Let your home build their future.

Extra Long Draw Period ~ 35 years

No Application Fees, Points or Closing Costs

Talk to an Expert Today!

Visit any one of our 20 branches or call our Customer Support Center at 866-422-6574
to discuss Home Equity Options.

The Annual Percentage Rate (APR) may vary monthly and will be based on the Prime Rate as listed in the Wall Street Journal (Prime) plus a margin.The APR will not be less than 3.00% APR or more than 18% APR. As of 5/1/17 the Prime Rate is 4.00%. The APR will also depend on the amount of the Home Equity Line of Credit (HELOC) that we approve. For HELOCs of $25,000 - $499,999 the APR will be Prime -.26%, currently 3.74%APR. For HELOCs of $500,000 to $1,499,999, the APR will be Prime + .24% APR, currently 4.24% APR. All APRs reflect a .26% auto-pay discount from a BankRI checking account. In some instances, the APR calculation used could result in a fully indexed APR below the minimum APR of 3.74%. If this occurs, your APR will not be less than 3.00%. Property hazard insurance required. $40 Annual Fee is waived for first year. Early termination fee of $250 or 2% of the HELOC's credit limit, whichever is less, applies if HELOC terminates within 12 months of closing. Available on 1-4 family owner occupied/second homes. Other terms and conditions and restrictions may apply. Offer subject to change without notice. Typical fees to open the HELOC when the property is held in a trust are approximately $175. Consult a tax advisor for further information regarding the deductibility of interest and charges.

+ 35 Year Draw Period followed by a 15 year repayment period.
++ No closing costs except for properties held in a trust or investment property.

BankRI NMLS ID #410623.