Important Notice:
You are leaving the Berkshire Bank Website

The hyperlinks to these Internet sites are provided solely as a convenience to the users of the Berkshire Bank Internet site. The Bank has made a limited effort to determine that these links function properly. However, linked sites are not under the control of the Bank, and the Bank is not responsible for the contents of any linked site, or any link contained in a linked site. You are responsible for confirming the identity and authenticity of any site you visit and transact business with online. The inclusion of a link does not imply or constitute an endorsement by the Bank, its ownership or management, the products or services it offers, or any advertisers or sponsors appearing on these web sites.

You can click the Return to Berkshire Bank button now to return to the previous page or you can use the Back button on your browser after you leave.

Continue Return to Berkshire Bank 
Important Notice:
Please be aware email is not a secure method of communication.

Do not use email to send us confidential or sensitive information such as passwords, account numbers or social security numbers. If you need to provide this type of information, contact us by phone, fax or regular mail.

Email Now Return to Berkshire Bank 
 

 
Center column content
Headline

Loans

 
Video and accompanying text
Block Page Video

What Is A Loan?


A Loan is money that you borrow, often from a bank, with the promise to pay it back along with interest on the borrowed money.


Loans provide you with the money you need in the short term to make a large purchase such as a car or a house, and allow you to pay back the money over time. For this convenience, you pay interest on the borrowed amount.


There are many different kinds of loans. This section will address four very common loans.


  1. Student Loans – used to finance a post-secondary education
  2. Auto Loans – used to finance the purchase of a vehicle
  3. Mortgages – used to finance the purchase of  a home
  4. Home Equity Loans - used to finance a variety of things
Right column content
Content definitions:
Sidebar Business Login
Sidebar Personal Login
Sidebar Freeform
Sidebar Image and Link

Financial Literacy Toolkit