Home Loan Investment Bank, F.S.B. is headquartered in Warwick and is the 6th largest bank in the state of Rhode Island. It is also the 2,180th largest bank in the nation. It was established in 1979 and as of December of 2018, it had grown to 130 employees at 3 locations. Home Loan Investment Bank, F.S.B.'s savings rates are 4X the national average, and it has a B+ health rating.
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Very Impressive!
It was very easy to apply online for their 18 months CD account with 3.15% APY! In a matter of minutes (in the end of the process) they had already approved and gave me my account number. I was very impressed because it takes other financial institutions days (and even weeks Andrews FCU).
Offer Different Rates For Online & Local
Their 14 Month CD is with the good rate is not available online... just locals.
18 Month E-Cd
Worst customer service I ever had in my life . I opened an e-cd and finally got it through on the date the cd rate of 3.15 APY expired )8-10-2018. I put in a few days before that date but they showed it went through on 0810-18 . I managed to see my cd on line through their site but I never could make a copy of the cd it self ... Under documents it says must have adobe reader which I installed and it keeps saying there are no statements ... No matter how many times I call they fail to answer me back and last time I waited 5 days ... When I explained I wanted a copy of the e-papers I signed with my account number , the amount of c-d , and all other paper work like I get in any other cd I've ever filled out ... The woman put me on hold as I waited patiently when she said she will find out and put me on hold . I waited 15+ minuets and then I was hung up on and tried to call back for days with no return call ... I also put my request in writing for someone to call me back with my Ph. # and account # . I've had bad customer service before but this bank is absolutely the worst I've ever experienced in my 57+ years of life ... Please let me know what you think of their service as if I do not hear from them I will go to the FED's and report them . All I want is a copy of my C.D. I will print it .. I just asking how I go about getting it...
Equifax Verification
Failed identity verification several times. What?
According to customer service no other method e.g. faxed ID documents is available.
Unfriendly bank.
Application Form From Heck
Its a great rate...but be prepared for the worst bank application form ever .....make sure you know when your house was built...the cost ..how many ''months'' you have lived in the house etc etc etc ...it is a real pain !!! but i eventually got it right ..if the rate was not the best ...i would have given up many times
Completely Botched Application Process And Incompetent Customer Service
I applied for the 3.15%?APY 18 month CD on Wednesday, 7/25/18. After answering the identity verification questions correctly, a notice appeared onscreen that I had failed to answer correctly, but then I received an email stating that the account application was accepted.
On Thursday I received an email asking I provide a utility bill which I did and then on Friday I received an email that the account was opened and that I should enroll in online banking and be sure to input my account number.
However, I was not provided an account number so I called the bank and spoke to a customer service person who was clueless. He couldn’t find my account number but assured me he would ask his superiors for help and call me either Saturday or latest Monday, 7/30/18.
Monday came and I had not received a call so I called and spoke to him at 2 PM but again he still couldn’t find the account number number. He said he would call me Tuesday at 2 PM. I don’t know why he had to wait until that late in the day so I angrily told him to find the account number while we were speaking or close the account.
He hung up on me and I called back 5 times and my calls went to voicemail.
I finally got through to another operator two hours later, but she couldn’t help me. She couldn’t even close the account so now if they try to fund the account through an ACH debit, I’m going to have to call my bank and reject the ACH.
This bank and its customer service staff are incompetent.
I will not entrust my money with them. Good luck to those who do.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 27417 |
| Year Established | 1979 |
| Employees | 130 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.95% |
| Return on Equity - YTD | 9.68% |
| Annual Interest Income | $18.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $302.0MM$264.5MM |
| Loans | Q4 2018vs Q4 2017 | $266.1MM$229.1MM |
| Deposits | Q4 2018vs Q4 2017 | $253.4MM$231.8MM |
| Equity Capital | Q4 2018vs Q4 2017 | $28.3MM$30.4MM |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $3.9MM$3.5MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $4.2MM$2.9MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $218.00K$388.00K |
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Home Loan Investment Bank, F.S.B. Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.00% | $50k | - | Premier Savings | |
| 1.00% | $50k | - | Sky High Savings | |
| 0.30% | $25 | - | Statement Savings |
Home Loan Investment Bank, F.S.B. Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.75% | $2.5k | - | Premier Checking | |
| 0.70% | - | - | Loyalty Checking |
Home Loan Investment Bank, F.S.B. CD Rates
Home Loan Investment Bank, F.S.B. IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | $1k | - | 3 Year IRA | |
| 2.55% | $1k | - | 5 Year IRA | |
| 2.10% | $1k | - | 2 Year IRA | |
| 1.75% | $1k | - | 18 Month IRA | |
| 1.40% | $1k | - | 1 Year IRA |
| Home Loan Investment Bank, F.S.B. Locations | ||
|---|---|---|
| Home Loan Investment Bank, F.S.B. | 1 Home Loan Plaza, Suite 3 | Warwick, RI 02886 |
| Providence Office | 244 Weybosset Street | Providence, RI 02903 |
| Warwick Branch | 40 Airport Road | Warwick, RI 02889 |