BMT COVID-19 Personal Relief Loan is available to existing BMT deposit or loan customers. 5.99% Annual Percentage Rate (APR) applies to an unsecured term loan with a term up to 60 months. Minimum loan is $2,500 and maximum loan amount is $25,000. Automatic payment is required from a Bryn Mawr Trust (BMT) Checking account. 7.74% APR applies to loans closed without automatic payment from a BMT Checking Account. Sample monthly payment for a unsecured COVID-19 Relief Loan with a balance of $5,000 at 5.99% APR over five (5) years is $96.64. Current 5.99% APR is a discounted rate for existing customers. Evidence of employment is required including a disruption of employment as pronounced by employer or government action (Federal, State, County or Local). Existing customer is defined as having a deposit or loan in good standing with BMT as of 3/13/20. Income verification is based from a pay-advice voucher which must have been issued within 60 days of the pronouncement. There is no application, origination or prepayment fee. Late fees and returned payment fees may be charged when applicable. Loans subject to credit approval. Offer may be withdrawn at any time. Additional terms and conditions may apply.
To assist BMT personal clients, we have developed the BMT COVID-19 Personal Relief Loan, an unsecured loan, which is now available to existing BMT deposit or loan customers.