Need New Furniture?
People's & Wayside Furniture introduce a new way to buy furniture. Go to Wayside now for the best values in Connecticut and get a Tax Saver Loan from People's. It's the easiest way to furnish your home - and you could get a tax deduction too*. Stop into Wayside Furniture or visit a People's branch for details!

People's Equity Credit Line
Ready cash for when you need it -- simply by writing a check. Your People's Equity Credit Line is ideal for unplanned borrowing needs and can be used for any purpose. You can even consolidate any high-interest debt you may have. There are no points, application fees or closing costs (Rates & Terms). And best of all, the interest is tax-deductible*!

Home Equity Loan
This loan is ideal if you have built up substantial equity in your home. The interest rate and monthly payments are fixed so you don't need to worry about rising interest rates. Our home equity loan allows you to borrow for a longer time and the interest you pay may be tax deductible.*

*Because individual situations differ, please consult your tax advisor regarding deductability of interest.

Whatever your reason for borrowing, you'll find the right loan at People's.

You may be shopping for a new car, improving your home, furthering your education, just to name a few. For all the reasons you borrow, there's one place to go for competitive rates, easy applications and fast answers: People's Bank. Our loan decisions are made locally, so you'll get quick answers.

Auto Loans - Get Great Rates, 100% Financing and Pre-approval.
With competitive rates, 100% financing and pre-approval, People's Bank makes it easy to buy a new or used car. Get pre-approved on your loan - Have your loan ready before you walk into the dealer's showroom. Choose the car make and model you like, and select the terms and down payment that fit your budget.

Personal Loans
A fixed rate loan for anything you need. Monthly payments will not change so you can avoid revolving credit card debt and better manage your finances.

Personal Credit Line
Eliminate check-bouncing worries on any of your People's Plus Checking Accounts! Credit lines up to $2,500 available.

Student Loans

Find out how People's Bank can help you make higher education a reality.

In today's competitive world, getting a college education is more important than ever. But paying for that education can be difficult. People's Bank can help with a full range of financing options.

*Because individual situations differ, please consult your tax advisor regarding deductability of interest.

Sallie Mae
People's Bank and Sallie Mae, a secondary market institution devoted exclusively to financing higher education, are pleased to offer the benefits of the Federal Family Education Loan Program (FFELP). People's Bank distributes the application to prospective borrowers and funds the loan. Sallie Mae then handles loan approval, disbursement and ongoing servicing of the loan.

There are three types of Federal Family Education Loan Program (FFELP) loans:
1. Federal Subsidized Stafford Loans - For Students
2. Federal Unsubsidized Stafford Loans - For Students
3. Federal Plus Loans - For Parents

How Are They Different?
Federal Stafford Loans are made to undergraduate and graduate students attending an accredited school at least half-time (includes colleges, universities and vocational schools). Federal Plus Loans are granted to parents of dependent students. Detailed below are the differences between the loans.

Federal Subsidized Stafford Loan - Granted based on financial need - The government pays interest on the loan while student is in school - There is a six-month grace period after borrower graduates. Then loan repayment begins.
Annual Loan Limits
$2,625 - 1st year; $3,500 - 2nd year; $5,500 - 3rd & 4th year; $8,500 - Graduate/professional students

Federal Plus Loans
- Enables parents to borrow for each dependent student enrolled in school at least half-time
- Repayment begins within 60 days of loan disbursement
- Annual Loan Limits
- No loan limits. May finance up to the full cost of annual academic year, minus grants and other financial aid.

Interest Rates
- Federal Stafford interest rates for new loans are based on the 91-day T-Bill rate and are capped at 8.25%. - Interest rates change annually, in July. Interest rate for Federal Plus Loans are capped at 9%.

Fees
- Origination fee of 3% remitted by People's Bank to federal government

Timing
- The application process can take from 2 to 8 weeks.

Special Repayment Programs
Great Rewards
- Make your first 48 monthly Stafford loan payments on time and get a 2% interest rate reduction for remaining term of the loan.

Great Returns Program
- Make your first 24 monthly Stafford loan payments on time and get a credit to your loan account equivalent to any origination fees you paid over $250.

Direct Repay Plan
- Get an immediate 1/4% interest rate reduction when you authorize automatic monthly transfer from your checking or savings account to cover your loan payment.

Repayment Relief Programs
Smart Loan
- Permits highly indebted student loan borrowers to lower their initial monthly payments through loan consolidation.

Select Step
- Allows borrower to make smaller payments in early years with "step up" to higher payments later when they are financially secure.

Income Sensitive Repayment
- Offers relief with payments that are based upon a percentage of borrower's gross monthly income.

Questions?
To request an application