Home Loan Investment Bank, F.S.B. is advertising two special CDs. The best deal is the 3-year CD which has a 2.50% APY. The other one is a 1.75% APY 2-year CD. Minimum deposit is $1,000. Both have a bump-up option which allows for a one-time increase in the CD rate to the current bump up CD rate. These bump-up options are rarely useful, but in this case the 3-year CD rate is still quite competitive even without any special feature. These specials don't seem to be shown at the bank's website. These were advertised in yesterday's (9/19/2010) The Providence Journal. The ad is available online here.
It appears that a branch visit is required to open an account. Branches are located in Warwick and Providence, Rhode Island.
The bank's overall health score is 2 out of 5 with a Texas Ratio of 71.71% (below average) based on 6/30/2010 data. The bank is also operating under an OTS Cease and Desist Order dated 8/18/2009. Please refer to the financial overview of Home Loan Investment Bank for more details. The bank has been a FDIC member since 1994 (FDIC Certificate # 27417).
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