Rates


COMMITMENT AMOUNT - VARIABLE INTEREST RATES

Determination of the variable interest rate tier for a Securities-Backed Line of Credit (SBLOC) account is based on the maximum drawing power of the loan as indicated in the Bank's commitment letter (Commitment Amount) and the sum of the Wall Street Journal Prime Rate (WSJP) and applicable margin.  Changes to the Commitment Amount may result in a change in the interest rate tier*. 

*Collateral additions, subtractions, or market value changes may reassign the loan to a new rate tier in the table above.  Interest rate review requests must be made in writing, using the change request form that is available on our website.

Current Rate Schedule (As of 05/15/2021):
(Rates subject to change)

COMMITMENT AMOUNT
(MAXIMUM DRAW)                                 

 RATE CALCULATION*

$75k - 99,999.99

 WSJP + 0.50%  

$100k - 249,999.99

 WSJP + 0.125%  

$250k - 499,999.99

 WSJP - 0.125%  

$500k +

 WSJP - 0.375%**  

*Rate Calculation subject to a 2.875% interest rate floor.
**Negotiated pricing may be available based on providing the Bank with supporting documentation of competing offer.

The interest rate on your client's securities-backed line of credit may vary based on your cleint's outstanding principal loan balance and is calculated using the sum of the Wall Street Journal Prime Rate and the rate set out below. While floors are in place, the interest rate will be the HIGHER of the tiered rate or the floor rate. 

 

Rate Schedule prior to October 1, 2020:

OUTSTANDING PRINCIPAL LOAN BALANCE

 

RATE

 

$75K-$99,999.99

  

WSJP + 1.00%

 

$100K-$249,999.99

 

WSJP + .25%

 

$250K-$499,999.99

 

WSJP + 0.0%

 

$500K-$999,999.99

 

WSJP - .25%

 

$1MM +

 

WSJP - .25%