Home Loan Investment Bank Has Nationwide 30-Month eCD, 3.00% APY

POSTED ON BY

UPDATE 6/21/2019: 30-month eCD and 3-year CD rates lowered to 2.55% APY.

Deal Summary: 30-month eCD, 3.00% APY, $2.5k minimum deposit, online application only. 3-year CD, 3.00% APY, $1k minimum deposit, in-branch only.

Availability: Nationwide online application. In-branch market area includes Connecticut, Massachusetts, and Rhode Island.

Rhode Island-based Home Loan Investment Bank (HLIB) is currently offering 3.00% APY on two different term-length CDs: a nationally available 30-month eCD and an in-branch 3-year CD. The minimum deposit for the 30-month eCD is $2.5k, and $1k for the 3-year CD.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.55%$2.5k-Home Loan Investment Bank, F.S.B.30 Month e-CD
Rates as of July 20, 2019.

The 3-year CD is also available as an IRA (Traditional, Roth, and SEP), earning the same APY with the same funding requirements.

APYMINMAXINSTITUTIONPRODUCTDETAILS
2.55%$2.5k-Home Loan Investment Bank, F.S.B.30 Month e-CD
Rates as of July 20, 2019.

According to CSR, partial withdrawals are allowed and the Early Withdrawal Penalty is six months interest on the amount withdrawn for all HLIB CDs, regardless of term length.

Funding and Accessing Maturing Funds

The following information was obtained in a conversation with CSR.

  • The eCD can be funded via ACH.
  • Monthly interest can be sent back to the original funding account by ACH, if desired.
  • The only option to access maturing eCD funds is a cashier’s check “mailed to the residential address on your account,” which is odd, as ACH can be used for monthly interest payments.

Availability

Headquartered in Warwick, Rhode Island, Home Loan Investment Bank’s offers its in-branch product line to residents of Rhode Island, Massachusetts, and Connecticut. In the past year, HLIB has added a limited number of nationally available eCDs.

As the name suggests, an eCD can only be opened using the Bank’s online application. Opening a regular CD must be done in person at any of three Rhode Island branches located in Providence and Warwick (2).

Bank Overview

Home Loan Investment Bank has an overall health rating of "B+" at DepositAccounts.com, with a Texas Ratio of 12.54% (above average) based on March 31, 2019 data. In the past year, the Bank has increased its total non-brokered deposits by $18.44 million, an excellent annual growth rate of 8.01%. 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. Currently the sixth largest bank in Rhode Island with assets in excess of $301 million, HLIB also has successful residential mortgage and automobile financing divisions.

How the eCD Compares

When compared to 198 similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available nationwide, Home Loan Investment Bank’s 30-month eCD APY currently ranks fourth.

Interest RateCD Length of TermBank/Credit Union
3.10% APY36-Month Certificate SpecialConnexus Credit Union
3.09% APY3-Year Senior Citizen CDState Bank of India (IL)
3.03% APY3-Year CDState Bank of India
3.00% APY30-Month eCDHome Loan Investment Bank

The above rates are accurate as of 6/20/2019.

To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

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

Comments
jimdog
jimdog   |     |   Comment #1
Texas ratio too weak for my money. Thx anyway.
deplorable 1
deplorable 1   |     |   Comment #2
I have the 18 month version with 8 months to go at 3.15% APY. I was hoping that they would allow the opening of a checking account with ACH capability to avoid the mailed check at maturity but so far no dice.
Shelby1
Shelby1   |     |   Comment #3
Open GTE Financial CU CD's with terms from 18 months to 60 month..with APY range from 2.27% to 3.04%, and these are all ADD ON cd's entire length of CD with only a $20 minimum or greater deposit. $500 minimum to open and can be pulled from credit card for all CD's with no additional charge.Account can be opened in hours / and in 24 hours account is updated on the GTE website showing all CD's funded and dividend rate applied to all CD's. Think of the different options you may have with purchasing these add on cd's over the next 5 years and you may come to the same conclusion I came to.
Sasha
Sasha   |     |   Comment #4
Shelby1, Is the max funding from CC $500 and I can fund the rest via ACH? Thanks! Looking to open a cd from GTE as well. Thanks!
Shelby1
Shelby1   |     |   Comment #5
Sasha I opened (6) cd’s with different terms... their minimum to fund is $500 per cd.i will leave $500 in each and then ACH other dollars later into my reg saving then transfer online to the cd I want to further fund.BTW when funding with credit card there is no additional charge n you can grab the cash back from the credit card as well. Mine is 1.5% so I earned $45 cash back as well.
AnnO
AnnO   |     |   Comment #7
Max CC funding to open a GTE CD is $5k. (GTE checking/savings accounts have a much lower max CC funding, $500 IIRC but it has changed several times.) They are add-on CDs so you can easily add the rest of your money later.
Sasha
Sasha   |     |   Comment #8
That is good know. Thanks you both for the infor.
deplorable 1
deplorable 1   |     |   Comment #6
GTE allows credit card funding of up to $5,000 for new CD's. Using a 2% cashback credit card for the 6 month CD's works out to the best deal because you end up with 4%/yr. tax free from the credit card rewards. 2% + 2% + 1.26%(6 mo. CD rate) = 5.26% APY
Home Loan Investment Bank Has Nationwide 18-month eCD

UPDATE 8/10/18: This CD has expired. The 18-month 3.15% eCD is no longer available.

Deal Summary: 18-month eCD, 3.15% APY, $2.5k minimum deposit, online application only. 14-month CD, 3.15% APY, $100k minimum deposit, in-branch only.

Availability: Nationwide online application. In-branch market area includes Connecticut, Massachusetts, and Rhode Island.

Rhode Island-based Home Loan Investment Bank (HLIB) is offering 3.15% APY on two different CDs: a nationally available 18-month eCD and an in-branch 14-month CD. The minimum deposit for the 18-month eCD is $2.5k, and $100k...

Continue Reading
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.

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.

Continue Reading
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...

Continue Reading
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...

Continue Reading
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...

Continue Reading


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.