Torrington Savings Bank

Home Equity Loans and Lines of Credit

Home Equity Loans:

TSB offers a fixed rate, fixed payment amortized equity loan with no closing costs and no application fees.  *Rates shown reflect a .25% discount for auto-pay from a TSB account.  Add .25% for rate without auto-pay.  5&10 year equity loan programs require $10,000.00 new money for existing equity loan customers.  Add .25% for rate without new money. 

Rates as of Tuesday, December 4, 2018

Product DescriptionInterest RateAnnual Percentage RatePointsPayment per $1,000Apply
Home Equity Loans*
5 Year Fixed Equity Loan3.625%3.625%0.000$18.25
10 Year Fixed Equity Loan4.250%4.250%0.000$10.24
15 Year Fixed Equity Loan4.625%4.625%0.000$7.71
20 Year Fixed Equity Loan4.875%4.875%0.000$6.53

Home Equity Line of Credit (HELOC):

TSB offers a line of credit with an adjustable interest rate, currently Wall Street Prime minus .50%. There is a maximum interest rate of 18%. This loan allows you access to your credit line when funds are needed with the ability to repay the principal without penalty at your own pace. Monthly interest-only bills are based on the outstanding account balance during the billing cycle.

Rates as of Tuesday, December 4, 2018

Interest RateAnnual Percentage RatePointsPayment per $1,000Apply
Home Equity Advantage Plus
Existing TSB Mortgage clients only
Home Equity Advantage
Existing Mortgage with another lender