BankFive's Generator Loans:
- 5.55% APR*
- Generator must be installed by a licensed contractor
- Generator must be a standby generator (sometimes referred to as a "whole house generator" or "whole home generator")
- $5,000 minimum loan amount. $15,000 maximum loan amount
- Affordable monthly payments with up to 60 month term
- No prepayment penalties
If you're interested in buying and installing a standby generator, here are some next steps to consider:
- Contact a generator install company for a site survey.
- Work with your installer to select an appropriate backup generator for your home.
- Apply for generator financing, if necessary.
- Purchase your standby generator.
- Work with your generator installation company to obtain the necessary permits.
- Have your whole house generator installed.
- Have your generator installer perform a final inspection.
If you have any questions regarding generator financing or the generator loan application process, please contact us
*Some restrictions may apply. This offer subject to credit approval and may be terminated at any time. Minimum loan amount is $5,000.00. Maximum loan amount is $15,000.00. APR refers to Annual Percentage Rate. The monthly payment would be approximately $19.12 per $1,000 borrowed at 5.55% APR for 60 months. Customers are required to obtain written estimate and invoice from a licensed contractor. Available to residents of Massachusetts and Rhode Island. Minimum FICO score requirement of 680. Maximum debt to income ratio of 40%, based on net income. Loans will be secured by UCC recordings.
BankFive NMLS #525575 • Member FDIC • Member DIF • Equal Housing Lender