headerX.png

Boat Loans*

Make your passion a reality!

Apply Now!

 

Whether you want to purchase a new or used boat, or refinance an existing lien on a boat you first financed elsewhere, our team of professional loan specialists is here to answer all your questions. BankNewport boat loans offer you:

  • Competitive fixed and variable rate programs
  • Financing the purchase of a boat or refinancing your existing loan
  • Financing available for many types of new and used sailboats and motorboats
  • Terms up to 20 years
  • 0.25% rate reduction with automatic deduction from a BankNewport checking account

More important information on BankNewport boat loans:

  • Minimum loan amount $25,000
  • Purchase & Sales Agreement required on purchase financing
  • Proof of Insurance required on all loans
  • Prepayment penalty of 2.00% the original loan amount within the first 24 months

Apply online, email us at intouch@banknewport.com or call 401.845.2265 or 877.709.2265 outside the Newport County area for more information.

Fixed Rate Boat Loans


Fixed Rate Loan $25,000 - $49,999

Term

APR

Minimum Loan Amount

Monthly Payment Amount

Additional Requirements

60 months

4.750%

$25,000

$468.92

20% down

120 months

5.625%

$25,000

$272.87

20% down

180 months

6.000%

$25,000

$210.96

20% down



Fixed Rate Loan $50,000 - $99,999

Term

APR

Minimum Loan Amount

Monthly Payment Amount

Additional Requirements

60 months

4.500%

$50,000

$932.15

20% down

120 months

5.375%

$50,000

$539.54

20% down

180 months

5.750%

$50,000

$415.21

20% down

240 months

6.250%

$50,000

$365.46

20% down



Fixed Rate Loan $100,000 - $2,000,000

Term

APR

Minimum Loan Amount

Monthly Payment Amount

Additional Requirements

60 months

4.240%

$100,000

$1,852.50

20% down

120 months

5.250%

$100,000

$1,072.92

20% down

180 months

5.625%

$100,000

$823.73

20% down

240 months

6.000%

$100,000

$716.43

20% down

 

Adjustable Rate Boat Loans


5/1 Adjustable Boat Loans

Product

Term

APR

Minimum Loan Amount

Monthly Payment Amount

Additional Requirements

$25,000 - $49,999

15 years

5.240%

$25,000

$200.84

20% down

$50,000 - $99,999

20 years

4.740%

$50,000

$322.84

20% down

$100,000 - $2,000,000

20 years

4.490%

$100,000

$632.11

20% down


7/1 Adjustable Boat Loans

Product

Term

APR

Minimum Loan Amount

Monthly Payment Amount

Additional Requirements

$25,000 - $49,999

15 years

5.490%

$25,000

$204.14

20% down

$50,000 - $99,999

20 years

4.990%

$50,000

$329.70

20% down

$100,000 - $2,000,000

20 years

4.740%

$100,000

$645.68

20% down

The annual percentage rate (APR) is accurate as of: July 26, 2016