Our board is wanting to generate new loans and interest checking deposits: As a new promotion they would like to offer
to existing customer that have checking accounts with a minimum balance of $10K an additional .15% in interest
if they take out a new loan with us , they would also receive .25% off the regular loan rate. They have indicated there is no minimum loan amount, they would like to extend the rate reduction to all loan products to include our in house loans. The rate increase of .15% would also apply if the customer opened a new CD , rate increase would be good as long as minimum balance in the checking was maintained. This offer would also apply to someone opening a new checking account of $10K, if they opened a new CD $1,000 minimum they would get .15% increase from our regular rate, or if they open a new loan (no minimum amount or time) they would get a .25% decrease on the loan rate. I know I have to cover the specific terms, minimums, lengh of offer,not sure if this is something we can extend to our home loan products and Helocs.