Balboa Thrift and Loan's Services
Providing financial services to your community for over 35 Years
Services
Posted rates subject to change without notice; call or visit the branch nearest you for additional information. **Currently not accepting any new accounts; rollovers only**
Personal & Business Deposit Rates
Tiered Statement Account (Minimum deposit of $300)
| Amount | Interest Rate | Annual Percentage Yield* |
|---|---|---|
| $.01 to $1,999.99 | 0.15% | 0.15% |
| $2,000.00 to $9,999.99 | 0.20% | 0.20% |
| $10,000.00 to $24,999.99 | 0.30% | 0.30% |
| $25,000.00 and over | 0.40% | 0.40% |
Interest is compounded daily on tiered statement.
Jumbo Certificates of Deposit ($10,000.00 and over)
| Duration | Interest Rate | Annual Percentage Yield* |
|---|---|---|
| 3 Months | 5.12% | 5.25% |
| 6 Months | 5.02% | 5.15% |
| 9 Months | .35% | .35% |
| 12 Months | 4.88% | 5.00% |
| 18 Months | 4.78% | 4.90% |
| 24 Months | 4.74% | 4.85% |
| 36 Months | 4.55% | 4.65% |
| 48 Months | 4.31% | 4.40% |
| 60 Months | 4.21% | 4.30% |
Mini Money Maker Certificates of Deposit (From $2,000.00 to $9,999.99)
| Duration | Interest Rate | Annual Percentage Yield * |
|---|---|---|
| 3 Months | 5.12% | 5.25% |
| 6 Months | 5.02% | 5.15% |
| 12 Months | 4.88% | 5.00% |
| 18 Months | 4.78% | 4.90% |
| 24 Months | 4.74% | 4.85% |
| 36 Months | 4.55% | 4.65% |
*Annual Percentage Yields (APYs) are effective as of 03/13/2024 and are subject to change without notice.
Interest on certificates is compounded daily if added back to the certificate. Interest paid by check or deposited to a tiered statement monthly is simple interest. Certificates automatically renew at maturity at the prevailing interest rate. There is a five (5) day grace period after the maturity date. Interest will not be earned after the maturity date. A substantial penalty for early withdrawal may be imposed. Services charges and fees will reduce the annual percentage rate yield.
Commercial Property Loans
| Property Type | Loan To Value | Debt Service Coverage | Rate | Amortization/Term |
|---|---|---|---|---|
| Multi-Family | Up to 75% | 1.201 | Prime+1 2 | 30/30 |
| Comm./Retail Mixed Use | Up to 75% | 1.20 | Prime+1 | 30/15 |
| Commercial/Industrial | Up to 65% | 1.20 | Prime+1-2 | 30/10 |
| Land | Up to 55% | Prime+2 | 30/1-3 |
- Secondary loan repayment sources considered on all loan submissions
- Wall Street Journal Prime: Adjusts monthly Possible fixed term 2-5 years from 6.5% to 8% Call for details on specific property transaction
- 'A' Property condition Interest rates and fees may be increased or terms changed due to property condtions
Financing Rates/Terms
*varies on specific property type; all rates/terms subject to review
- Property types: office, industrial, retail, mixed-use, medical, commercial condo, multi-family
- Loan amount: $250,000 - $5,000,000+ (call for higher loan amount consideration)
- Rates: competitive portfolio pricing / Terms: 5/10/15
- Balboa lender fees:
- Origination Fee: ½–1pt
- Flood: $12.00
- Tax Service: $59.00
- Credit Report: $2.35–$4.25
- Debt Service Coverage: minimum 1.20-1.25
- Lender fees: typically 1% loan amount (negotiable)
- Cash out available, entity ownership lending available
- No prepayment penalty / Amortized up to 30 years
Automobile Loans
Balboa Thrift and Loan has an enviable reputation in the automobile dealer industry.
Our management team has decades of experience in the financing of both new and used car buyers through a vast network of auto dealers in California. Balboa prides itself on both dealer and customer service. We continue to add new dealers into our auto loan service center and welcome your interest in becoming an approved dealership.
Service Charges - Schedule of Fees
Service Charges - Schedule of Fees
| Early Withdrawal | 90 days of interest |
| Excessive Withdrawal Fee | $1.50 each in excess of 5 |
| Savings Account Minimum Balance | $2.50 per month if balance falls below $300 during a monthly cycle |
| Wire Transfer – Outgoing | $25.00 each |
| Loan Payments Returned | $15.00 each |
| Deposited Checks Returned | $25.00 each |
| Account Research | $25.00 per hour or partial hour |
| Stop Payments | $25.00 each |
| Account Closed Within 180 Days of Opening | $25.00 each |
We may require not less than 7 days’ notice in writing before each withdrawal from an interest-bearing account other than a time deposit.
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