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Generator Loans

Fear power outages no more.

A home generator can be a great investment, offering peace of mind during snowstorms, hurricanes, and other extreme weather situations. Plus, with an unprecedented number of MA and RI residents currently working and learning from home, the promise of an uninterrupted power supply has perhaps never been greater. BankFive is thrilled to provide easy and affordable generator financing, so you can keep your family safe, comfortable, and connected no matter what's happening outside.
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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:
 
  1. Contact a generator install company for a site survey.
  2. Work with your installer to select an appropriate backup generator for your home.
  3. Apply for generator financing, if necessary.
  4. Purchase your standby generator.
  5. Work with your generator installation company to obtain the necessary permits.
  6. Have your whole house generator installed.
  7. 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

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