INTERESTOMY
HOME EQUITY LINE
Lowest Payment
In Michigan.
Old Kent's new Interest-Only Home Equity Line of Credit gives you a
minimum monthly payment that's over 60% lower than any leading bank in
the state, In fact, if you find a lower advertised home equity line of credit
payment at any Michigan-based bank, we'll match it! *
FLEXIBILITY PLUS DEDUCTIBILITY.
Our Interest-Only Home Equity Line offers the ultimate in financial
flexibility: You can pay less when you need to, more when you want to.
And unlike many loans, home equity interest is tax deductible. So your
low 8% variable APR can become an even lower 5.76% after tax rate.**
So why not consolidate your loans now and take advantage of our
flexibility and deductibility?
INTERESTED? COME TO OLD KENT!
Get our Interest-Only Home Equity Line - another CommonSense LoanTM
from Old Kent.
1.Spend less time on human
resources issues.
MINIMUM MONTHLY PAYMENT REQUIREMENT
FIRST OF AMERICA
$241.60
COMERICA
$240.00
FMB
$240.00
NBD
$240.00
2.Offer large company
benefits to attract and
retain the best employees.
3.Keepyour company's
close-knit atmosphere
and normal reporting
relationships.
MICHIGAN NATIONAL
$217.44
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Minimum payment based on advertised rates and terms, $17,000 credit
limit, $12,000 balance outstanding, and rates as of 1/3/94. Old Kent's
minimum monthly payment requirement based on interest only. All other
banks include principal and interest. Rate based on Wall Street Journal
Prime Rate, plus 2% for Old Kent, NBD, First of America, Michigan
National and Comerica; and FMB's Treasury Bill Index, plus 4.5%.
How can you do this?
Let employee leasing
give you back your
business.
CC OLD KENT
Common Sense. Uncommon Service!'
Ann Arbor
662-8666
Brighton/Main Office
227-8700
Brighton Mall
227-8750
Clarkston
625-8800
East Highland
887-4141
Grand River
227-8740
Hamburg
231-3900
Highland
887-4181
Milford
685-1555
Plymouth
455-5010
Southfield
353-3010
Walled Lake
624-4534
Coming Soon: Novi & Canton
a
WHAT ARE
THREE
WAYS
TO
GENERATE
MORE
PROFIT
FOR
YOUR
SMALL
BUSINESS?
*Based on the most recently advertised rates and terms.
**Based on 100% tax deductibility of interest and 28% tax bracket. Consult your tax advisor regarding tax deductibility.
To find out how to use
employee leasing to generate
more profit, call Frank Ellias
at 313-356-1188.
Annual Percentage Rate on Home Equity Line of Credit as of 12/31/93 is 8% on credit limits of $5,000-19,999 and 8% on $20,000 and over;
APR may vary but will not exceed 18% and can go as low as 8%. A balloon payment will be due at the end of the first year if your line of credit
is not renewed. Homeowners' insurance required. Must apply and be approved. Offer valid only in Michigan;
MEMBER FDIC.
expires March 19, 1994. Offer subject to change without notice.
COLD KENT BANK 1994.
T
Market Fact
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Source: 1993 Simmons-Jewish News Study
32
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Employee
Leaiing,
1.41%
400 Galleria Officentre,
Suite 215
Southfield, MI 48034-2164