Cash Reserve (Overdraft Protection)

Billerica Branch Remains Open During Road Construction

Beginning February 9, northbound Route 3A will be closed between Webb Brook Road and Tower Farm Road, Monday–Friday from 9:00 a.m. to 3:00 p.m. due to roadway construction. Traffic will be detoured, and business access will be permitted.

The Billerica branch will be open until 5:00 p.m. on weekdays while the road closure is in effect.

Customers may also use Video Banking during regular business hours, Online and Mobile Banking 24/7, or visit our Stoneham branch for in-person service.

The Cash Reserve Line of Credit is for the uncommon instances when your account may be overdrawn. While the best way to minimize the possibility of an overdraft is to actively monitor your StonehamBank account to ensure you have sufficient funds, this line of credit can help provide the protection you may need.¹

Rate

18.00% APR²
The interest will be charged from the transaction date.

Account Terms

Revolving
The minimum payment will equal the amount of earned fees and charges, and the greater of the following:
1. $25.00 or 5% of the Loan Account Balance on the last day of the Billing Cycle, for the last Billing Cycle in which an advance was made.
2. Minimum payment is automatically withdrawn from the related checking account.

Account Parameters & Fees

Loan amount: Up to $2,500.00, subject to credit approval
Annual fee of $30.00 due annually³
Returned Payment Charge: $30.00
Automatic advance increments of $1.00 to cover the required amount
Must have a consumer checking account; all account owners must apply
Accounts for minors do not qualify

1 For the transaction to be covered and to avoid an insufficient funds charge, the Cash Reserve Line of Credit must have a sufficient balance to cover the overdrawn amount.

2 The annual percentage rate (APR) is what credit costs a borrower each year, expressed as a percentage of the loan amount.

3 Waived with an active Optimum Plus checking account. An active checking account is defined as having an average daily balance of $10,000 or a combined average deposit balances of $25,000.

Consumer loan rates effective 11/21/2024.