Amboy Bank of New Jersey provides personal banking services of checking and savings accounts, home-equity loans, reverse mortgages and asset-management accounts. In addition, it provides business banking services of checking and savings accounts, loans and lines of credit and commercial services.
Amboy Bank has 22 branches in Middlesex and Monroe counties. It also has automatic-teller phone service and online banking around the clock.
Three of Amboy's personal checking accounts require an initial deposit of $100 and one requires $25 to open, as of 2015. The regular checking account has a $10 monthly fee if the balance falls below $1,000; this account is for people who write 22 or more checks per month. The NJ Consumer Checking account has a $3 monthly fee and a 50-cent per check charge if customers write more than eight checks per month. Checking accounts include a Visa card, free telephone and Internet banking, free automated-teller machine transactions and a $25 bonus with direct deposit.
Amboy Bank has a feature it calls 1/2 Pay Mortgage in which customers make 26 half-payments per year on mortgages instead of 13. This reduces mortgage terms by several years. An example at the Amboy Bank website says a customer with a $100,000 mortgage at 7.75 annual percentage rate can take seven years off the loan and save $43,131.