Musical Instruments Loans - Actors FCU
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Musical Instruments Loans

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Play On and On!

Minimum loan amount: $10,001
Maximum loan amount: $250,000

Terms

  • Minimum loan amount: $10,001
  • Maximum loan amount: $250,000
  • Must be for actual instruments; equipment, amps, etc. are not eligible for this type of loan
  • Financing of up to 75% of the appraised value or sales price of the instrument, whichever is lower
  • For instrument loans of less than $10,000 or for equipment financing, members may apply for a Personal Loan
  • 10% of loan value required in Savings Account
  • Rates and terms subject to change without notice
  • ActorsFCU Savings Account required; must be opened before application can be processed
For additional requirements, call Loan Department: 212.869.8926, Option 4

Have loan payments automatically deducted from your Power Checking Account and save on interest charges. Your interest will be lowered by 0.25% from our basic rate (Mortgages, Home Equity Loans, Balance Transfer Loans, and credit cards excluded). 

Loan Amount Max. Term Rate (APR)
10,001-25,000

7 years

4.50%

25,001-50,000

15-yr amortization
3-yr balloon

4.99%

50,001 - 100,000

20-yr amortization
3-yr balloon

4.99%

100,001-250,000

25-yr amortization
3-yr balloon

4.99%

 

APR = Annual Percentage Rate

Rates and terms subject to change without notice. As of 02/17/2020