Rates
Rates at OSCU
Mortgage Rates
Ocean State Credit Union is a full-service mortgage lender with an experienced staff offering expertise in every area of mortgage lending. We have access to a full range of mortgage sources, and all of our lending specialists are dedicated to finding you the right loan with the most competitive rates and terms.
Please see the link below for our latest Mortgage Rates
Savings Rates
Rates effective as of January 9, 2025
Share & Statement Savings
| Product | Term | APY* | Interest Rate | Interest Paid | Minimum Deposit to earn APY |
|---|---|---|---|---|---|
| Share Account | None | 0.05% | 0.04999% | Quarterly | $10.00 |
| Deposit Account | None | 0.05% | 0.04999% | Quarterly | $5.00 |
| Statement Savings | None | 0.05% | 0.04999% | Monthly | $5.00 |
| Club Accounts | 50 Weeks | One half week bonus | Yearly | $2.00 | |
| Mortgage Escrow | 0.05% | 0.04999% | Yearly | As Required |
IRA Savings
| Product | Term | APY* | Interest Rate | Interest Paid | Minimum Opening Deposit |
|---|---|---|---|---|---|
| Traditional Share | None | 0.03% | 0.02999% | Monthly | $5.00 |
| Roth | None | 0.03% | 0.02999% | Monthly | $5.00 |
| Education | None | 0.03% | 0.02999% | Monthly | $5.00 |
Certificate of Deposit
| Account Type | Term | APY* | Interest Rate | Interest Paid | Minimum Deposit to earn APY |
|---|---|---|---|---|---|
| 1 Year CD* | 12 Months | 3.85% | 3.79563% | Quarterly | $1,000 |
| 18 Month CD* | 18 Months | 3.75% | 3.69839% | Quarterly | $1,000 |
| 2 Year CD* | 24 Months | 3.25% | 3.21113% | Quarterly | $1,000 |
| 3 Year CD* | 36 Months | 3.50% | 3.45498% | Quarterly | $1,000 |
| 4 Year CD** | 48 Months | 3.50% | 3.44508% | Monthly | $5,000 |
| 5 Year CD** | 60 Months | 3.50% | 3.44508% | Monthly | $5,000 |
IRA Certificate of Deposits
| Account Type | Term | APY* | Interest Rate | Interest Paid | Minimum Deposit to earn APY |
|---|---|---|---|---|---|
| 1 Year IRA * | 12 Months | 3.85% | 3.79563% | Quarterly | $500 |
| 18 Month IRA * | 18 Months | 3.75% | 3.69839% | Quarterly | $500 |
| 2 Year IRA * | 24 Months | 3.25% | 3.21113% | Quarterly | $500 |
| 3 Year IRA * | 36 Months | 3.50% | 3.45498% | Quarterly | $500 |
| 5 Year IRA ** | 60 Months | 3.50% | 3.45498% | Quarterly | $500 |
Money Market Accounts
| Account Type | Term | Interest Rate | APY* | Interest Paid | Minimum Deposit to earn APY |
|---|---|---|---|---|---|
| Tier 1 | None | 1.48979% | 1.50% | Monthly | $2,500.00 – $24,999.99 |
| Tier 2 | None | 1.68690% | 1.70% | Monthly | $25,000.00 – $49,999.99 |
| Tier 3 | None | 1.88365% | 1.90% | Monthly | $50,000.00 – $74,999.99 |
| Tier 4 | None | 1.98190% | 2.00% | Monthly | $75,000.00 & Over |
Business Money Market Accounts
| Account Type | Term | Interest Rate | APY* | Interest Paid | Minimum Deposit to earn APY |
|---|---|---|---|---|---|
| Tier 1 | None | 1.48979% | 1.50% | Monthly | $2,500.00 – $24,999.99 |
| Tier 2 | None | 1.68690% | 1.70% | Monthly | $25,000.00 – $49,999.99 |
| Tier 3 | None | 1.88365% | 1.90% | Monthly | $50,000.00 – $199,999.99 |
| Tier 4 | None | 1.98190% | 2.00% | Monthly | $200,000.00 & Over |
APR is Annual Percentage Rate
APY is Annual Percentage Yield
* = Early Withdrawal Penalty of 3 Months Interest
** = Early Withdrawal Penalty of 6 Months Interest
***= Early Withdrawal Penalty of 3 Months Interest / This account will automatically close at maturity and be transferred to your Share Account
~ = All Certificates of Deposit & IRAs Will Renew As A New CD Of The Same Type.
Products In Italics Have A Special Rate.
Rates Are Subject To Change
Auto & Consumer Loan Rates
It is fast and easy to qualify….can start the Loan Application online now!
Rates effective as of January 27, 2023
New Vehicle
Must Have Full Insurance Coverage
| Minimum | Term | Rate (as low as) | Notes |
|---|---|---|---|
| Up to 36 Months | Refinance a New Auto 6.25% APR+ | 10% Down Payment or GAP Coverage | |
| Up to 60 months | New 6.00% APR or Refinance a New Auto 6.75% APR+ | 10% Down Payment or GAP Coverage | |
| $10,000 minimum | Up to 72 months | New 7.25% APR | 15% Down Payment or GAP Coverage |
| $20,000 minimum | Up to 84 months | New 7.75% APR | 15% Down Payment or GAP Coverage |
Used Vehicle
Must Have Full Insurance Coverage. Maximum Mileage = 90,000 miles.
| Vehicle Year | Term | Rate (as low as) | Notes |
|---|---|---|---|
| Model Year 2024-2025 | 60 Months | 6.25% APR | 15% Down Payment or GAP Coverage |
| Model Year 2022-2023 | 48 Months | 7.00% APR | 15% Down Payment or GAP Coverage |
| Model Year 2020-2021 | 36 Months | 7.00% APR | 15% Down Payment or GAP Coverage |
| Model Year 2018-2019 | 24 Months | 7.00% APR | 15% Down Payment or GAP Coverage |
| Older Model Vehicle | 24 months | 10.00% APR | 15% Down Payment or GAP Coverage |
Motorcycle
Must Have Full Insurance Coverage.
| Vehicle Year | Term | Rate (as low as) | Notes |
|---|---|---|---|
| New | 36 months | 6.50% APR | 15% Down Payment or GAP Coverage |
| New | 60 months | 6.75% APR | 15% Down Payment or GAP Coverage |
| Used | 36 months | 7.50% APR | 15% Down Payment or GAP Coverage |
New RV’s (includes Motor Homes and Travel Trailers)
Must Have Full Insurance Coverage.
| Borrowed Amount | Term | Rate (as low as) | Notes |
|---|---|---|---|
| $25,000 and less | 84 months | 9.75% APR | 20% Down Payment |
| $25,001 to $35,000 | 120 months | 9.75% APR | 20% Down Payment |
| $35,001 to $50,000 | 180 months | 9.75% APR | 20% Down Payment |
| $50,001 and Higher | 180 months | 9.75% APR | 20% Down Payment |
Used RV’s (includes Motor Homes and Travel Trailers)
Must Have Full Insurance Coverage.
| Borrowed Amount | Term | Rate (as low as) | Notes |
|---|---|---|---|
| $25,000 and less | 84 Months | 10.00% APR | 20% Down Payment |
| $25,001 to $35,000 | 120 Months | 10.00% APR | 20% Down Payment |
| $35,001 to $50,000 | 120 Months | 10.00% APR | 20% Down Payment |
| $50,001 and Higher | 120 Months | 10.00% APR | 20% Down Payment |
New Boats
Larger Boats will require Marine Mortgage documents. *240 month term on Boats over $50,000 require a Balloon Payment.
| Borrowed Amount | Term | Rate (as low as) | Notes |
|---|---|---|---|
| $25,000 and less | 84 months | 8.00% APR | 20% Down Payment |
| $25,001 to $35,000 | 120 months | 8.00% APR | 20% Down Payment |
| $35,001 to $50,000 | 180 months | 8.00% APR | 20% Down Payment |
| $50,001 and Higher | 240 months* | 8.00% APR | 20% Down Payment |
Used Boats
Larger Boats will require Marine Mortgage documents.
| Borrowed Amount | Term | Rate (as low as) | Notes |
|---|---|---|---|
| $25,000 and less | 84 months | 8.00% APR | 20% Down Payment |
| $25,001 to $35,000 | 120 months | 8.00% APR | 20% Down Payment |
| $35,001 to $50,000 | 180 months | 8.00% APR | 20% Down Payment |
| $50,001 and Higher | 180 months | 8.00% APR | 20% Down Payment |
DISCLOSURE: Ocean State Credit Union provides loan rates based on a risk rate schedule. The risk rate schedule carefully evaluates an applicant’s credit history, debt to income ratio, assets, and job stability. Ocean State Credit Union is competitive in the market. Completing an application gives our loan officers the tools to provide you a rate that works for your financial needs.
APR = Annual Percentage Rate
+ Call For Vehicle Refinancing Rate (401) 397-1900 ext. 2101
GAP Coverage Available. Some Restrictions Apply. Rates Are Subject to Change.
Consumer Loan Rates
It is fast and easy to qualify….can start the Loan Application online now!
Rates effective as of January 27, 2023
Home Equity Loans
| Term | Rates (as low as) | Notes |
|---|---|---|
| 60 months | 6.75% APR | 80% Maximum Loan to Value |
| 120 months | 7.00% APR | 80% Maximum Loan to Value |
| 180 months | 7.25% APR | 80% Maximum Loan to Value |
| 240 months | 7.50% APR |
OSCU Home Line Account
| Term | Rates(as low as) |
|---|---|
| 300 months | Prime Rate Variable – 80% of Appraised Value |
Home Equity PLUS Loans
| Term | Rates (as low as) | Notes |
|---|---|---|
| 60 months | 7.75% APR | 100% Maximum Loan to Value |
| 120 months | 8.00% APR | 100% Maximum Loan to Value |
| 180 months | 8.25% APR | 100% Maximum Loan to Value |
| 240 months | 8.50% APR | 100% Maximum Loan to Value |
Overdraft Protection
| Term | Rates(as low as) |
|---|---|
| Open | 15.00% APR – $1,000.00 Maximum Advance in $50.00 Increments |
Personal Loans
| Term | Rates (as low as) |
|---|---|
| Up to 60 months | 15.75% APR |
Debt Consolidation Loans
| Term | Rates (as low as) |
|---|---|
| Up to 60 months | 15.75% APR |
Pledged Installment
Term Based on Loan Amount
| Rate (as low as) | Term | Maximum Amounts / Terms Per Loan Policy |
|---|---|---|
| Savings Rate + 3.00% APR | Up to 60 months* | Balance of Deposits |
| CD Rate + 3.00% APR | Up to 60 months* | Balance of Deposits |
DISCLOSURE: Ocean State Credit Union provides loan rates based on a risk rate schedule. The risk rate schedule carefully evaluates an applicant’s credit history, debt to income ratio, assets, and job stability. Ocean State Credit Union is competitive in the market. Completing an application gives our loan officers the tools to provide you a rate that works for your financial needs.
APR = Annual Percentage Rate
Some Restrictions Apply. Rates Are Subject to Change.