Home Loan Investment Bank (RI/MA/CT) Raises 5-Year CD Rate


Deal Summary: 5-year CD, 2.50% APY, $1k minimum deposit.

Availability: Market area includes Connecticut, Massachusetts, and Rhode Island

Home Loan Investment Bank (HLIB) ended last week by raising the rate on its 5-year CD (2.50% APY). The minimum opening deposit is $1k, with no stated balance cap.

2.55%$1k-Home Loan Investment Bank, F.S.B.5 Year CD
2.55%$1k-Home Loan Investment Bank, F.S.B.5 Year IRA (Traditional, Roth, SEP)
Rates as of July 21, 2018.

Added to the product line in November 2010, the 5-year CD is experiencing its highest rate in nearly six years.

The 5-year CD is also offered as an IRA (Traditional, Roth, SEP), earning the same APY with the same funding requirements.

According to CSR, the Early Withdrawal Penalty (EWP) is six months interest. As I’ve mentioned in recent blog posts, a mild EWP on a long-term CD can be advantageous in a climate of rising rates on shorter term investments. DA’s EWP Calculator shows the effective yields if the 5-year CD is closed before maturity.

  • 1.27% APY – closed at 1 year
  • 1.69% APY – closed at 18 months
  • 1.90% APY – closed at 2 years
  • 2.11% APY – closed at 3 years
  • 2.21% APY – closed at 4 years


Headquartered in Warwick, Rhode Island, Home Loan Investment Bank offers its product line to residents of Rhode Island, Massachusetts, and Connecticut.

Opening a CD (or any other type of account) must be done in person at any of three Rhode Island branches located in Providence and Warwick (2).

HLIB’s online banking platform is currently limited to account management and bill payment services.

Bank Overview

Home Loan Investment Bank has an overall health rating of "B+" at DepositAccounts.com, with a Texas Ratio of 11.74% (above average) based on March 31, 2017 data. In the past year, the Bank has increased its total non-brokered deposits by $20.68 million, an excellent annual growth rate of 14.85%. Please refer to our financial overview of Home Loan Investment Bank (FDIC Certificate # 27417) for more details.

Home Loan & Investment Association was established in 1959 operating under a Rhode Island state charter. Fifteen years later, John M. Murphy (Founder and Chairman) purchased the bank charter and began to build the bank, “reactivating the charter for mortgage lending purposes.” In 1995, the charter was converted to a federal charter and the Band rebranded as Home Loan Investment Bank, FSB. HLIB is currently the seventh largest bank in Rhode Island with assets in excess of $265 million and successful residential mortgage and automobile financing divisions.

How the CD Compares

When compared to the 228 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to within the Bank’s market area, Home Loan Investment Bank’s 5-year CD APY currently shares top billing with Mountain America Credit Union’s 60-month Term Deposit..

*Note: Melrose Credit Union is currently operating under an NCUA conservatorship.

The above rates are accurate as of 6/19/2017.

To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table or our Rates Map page.

Related Pages: Providence CD rates, 5-year CD rates


Higher Long-Term CD Rates at Home Loan Investment Bank in Rhode Island

Home Loan Investment Bank raised its long-term CD rates last week, and now its 5-year and 3-year CD and IRA CD rates are very competitive. Its 5-year CD has a 2.00% APY, and its 3-year CD has a 1.50% APY. Minimum deposit is $1,000. These rates are listed in the bank’s CD page as of 7/29/2013. According to the small print at the bottom of this page rates apply only to residents of RI, MA and CT.

If you’re interested in these CDs, please refer to the bank’s contact page where...

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Top 4-Year CD Rate at Home Loan Investment Bank in Rhode Island - Local Only

Home Loan Investment Bank is advertising three competitive CD rates. The best deal is the 4-year CD with a 2.50% APY. The others are a 2.75% APY 5-year CD and a 2.00% APY 3-year CD. Minimum deposit is $1,000. These rates were advertised in today's (4/17/2011) The Providence Journal. The ad is available online here. The 5-year and 3-year rates are also listed on the bank's home page as of 4/17/2011.

It appears that a branch visit is required to open an account. Home Loan Investment Bank branches are located in...

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Competitive 3-Year CD at Home Loan Investment Bank in Rhode Island

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...

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