Avidia Bank

Avidia Bank was created in 2007 following the merger of Hudson Savings Bank and Westborough Bank. Both were originally founded in 1869 in Hudson, Massachusetts, and Avidia Bank still operates in the Hudson area.

Avidia Bank
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    How do Avidia Bank auto loans work?

    If you have a checking account with Avidia you can apply for a range of auto loans.

    Interest rates are based on the age of the car, and the older the car you’d like to buy, the higher the interest. 

    For example, purchasing a car built in 2020 can get you rates as low as 3.24%, whilst any car made before 2014 will see minimum interest rates of 7.49%. All motorcycles have an additional 2% interest added to the loan too.

    Credit score

    Avidia doesn’t disclose its minimum credit score requirements, however, you usually need good or excellent credit to access low rates.

    How Much Can You Borrow?

    The amount you can borrow is affected by the age of the car.

    For cars less than three years old, you can borrow up to 100% of the value of the car.

    This then works on a sliding scale until you reach 80% of the car value on any vehicle aged seven years or older.

    What types of vehicles are eligible for financing?

    You may finance any new or used car.

    How do I qualify?

    You’ll need to have a checking account with Avidia before you can apply. When you apply for your loan, you’ll have to direct the payment to the branch you’ve chosen to hold your account.

    Bear in mind, though, physical branches are only found in Hudson, Massachusetts, so if you live out of state, you may want to choose another provider.

    What documents do I need?

    Proof of address, your social security number and a form of photographic ID, such as a driver’s license.

    What are the fees?

    Each loan is subject to a $20 vendor's single interest fee once the loan is accepted.

    Late payment fees will also apply and will be made clear in your loan agreement.

    How long does the loan process take?

    The online application can be completed in a little as 10 minutes.

    The money can be in your account in just a few business days.

    How to apply for an auto loan?

    Avidia only accepts applications via its online portal due to state laws.

    What payment methods are supported?

    You can make one-off payments online and cash payments in-branch.

    If you choose to pay via auto-pay, you’ll receive a 0.50% discount on your APR.

    Pros and Cons


    • Interest rate discounts for autopay customers
    • A fast online application process


    • You’ll need to open a checking account at a branch based in Massachusetts
    • High interest rates on older cars

    Is Avidia Bank right for you?

    While auto loans are available to anyone across the country with an Avidia checking account, you’ll really only see the benefits if you live in the Hudson area and use Avidia for your day-to-day banking.

    Otherwise, you might want to start your auto loan search with a company like Capital One, that can offer similar rates without having to commit to a local branch checking account. Capital One also offers low-interest rates and welcomes those with poor credit.