1Check with your tax advisor
2Rates: To get the Home Equity Line of Credit (Line) Fixed-Rate Introductory Annual Percentage Rate (APR) and variable rate APR shown, payments must be automatically deducted (ePay) from a Santander checking account. The Introductory APR will apply only during the first six (6) billing cycles after your Line is opened. Thereafter, the APR for any existing balance or future advances will convert to the applicable variable rate APR. This APR may vary monthly and is based on the U.S. Prime Rate published in the Money Rates table of The Wall Street Journal on the first business day of the calendar month. The variable APR that you will receive will range between Prime minus 0.50 percentage points (currently 3.50% APR) and Prime plus 3.00 percentage points (currently 7.00% APR), and will depend on the following factors: amount of credit limit received, lien position, location of pledged property, and ePay election. If ePay is discontinued, the APR will increase by 0.25 percentage points. The Line must be in a first or second lien, secured by your 1-4 family primary residence located in MA, RI, CT, NH, NJ, NY, PA, DE, ME, VT, or DC, and total mortgage loans to be secured by this property must not exceed 80.00%. Line amounts must be between $10,000 and $750,000. Other rates and terms apply to investment properties and loan-to-value ratios up to 89.99%. The APR will never be higher than 18.00%. Fees: There is a $450 termination fee if you close the Line within the first 36 months of account opening. If your property is located in New York, the Bank will pay the mortgage tax at closing on your behalf, however, it must be reimbursed if the Line is closed within 36 months of account opening. An annual fee, if any will be charged during the draw period beginning in the 13th month after the account is opened and each year thereafter on the anniversary date. The amount of the annual fee will be $0, $25, or $50, based on the type of deposit account you have with Santander at the time the fee is assessed. Fixed-Rate Lock Option fee is $50. Balances you choose to lock in at a fixed rate of interest must be repaid in substantially equal monthly payments of both principal and interest. General Information: If your home is on the market, other rates and terms are available. A $175 fee applies if your property is held in trust. Property insurance is required. Flood insurance may be required. Rates and terms are accurate as of 4/3/2017, based on a current Prime Rate of 4.00% and are subject to change. Lines subject to approval.
* 0% introductory APR for 18 billing cycles on balance transfers made within 90 days of opening your account. After the introductory period, a variable APR for balance transfers from 16.24% to 23.24% based on the Prime Rate and your creditworthiness, with a transaction fee for each balance transfer of either $10 or 3%, whichever is greater. There is no grace period on balance transfers. Also if you take a balance transfer offer, this means that unless your purchase APR is at an introductory or promotional 0% APR, you will pay interest on new purchases from the date made if you do not pay all balances, including the promotional balance transfer, in full by the next payment due date appearing on your statement. Variable APR for purchases from 16.24% to 23.24% based on your creditworthiness when you open your account. Cash advance APR of 25.24%. Minimum finance charge of $1.50. The fee for cash advances is $10 or 5%, whichever is greater. Penalty APR of 30.74%, which may apply indefinitely to your account if you miss payments or otherwise default. The foreign transaction fee is 3% of the gross amount of transactions made in a foreign currency and transactions made in U.S. Dollars that are processed outside the 50 United States, District of Columbia, Puerto Rico, or Santander ATMs in Mexico. Purchases of wire transfers from a non-financial institution of either $10 or 4% of the amount of each transaction, whichever is greater. The annual fee is $49 per year (waived for the first year of the account, and waived in each of the subsequent years on the anniversary date of the account if you maintain a Santander Select or Premier Plus checking account or if you are qualified for a Santander Bank employee checking account). Rates effective as of 04/01/2017. Rates are subject to change. Please see the Terms and Conditions for additional rate, fee, and other cost information.
†Accounts must be in good standing. Applies to new net retail purchases only.