SAN FRANCISCO, Oct. 27 /PRNewswire-FirstCall/ -- Charles Schwab Bank
today announced that clients of Schwab Bank, Charles Schwab & Co., Inc. and
CyberTrader(R), Inc. now qualify for discounts on mortgage and home equity
products(1).
Clients are eligible for 1/4% off new adjustable rate mortgages and
1/8% off new fixed rate mortgages from Schwab Bank, discounts previously
available only to clients with more than $250,000 in combined bank and
brokerage balances. For a client with an adjustable rate $300,000 mortgage,
the discount translates into a savings of approximately $750 per year.
Clients will also receive 1/4% off home equity line of credit rates for new
loans.
"This is an extension of Schwab's ongoing commitment to superior value
and to recognizing clients for the totality of their relationship with
Schwab," said Schwab Financial Products Executive Vice President Randy
Merk.
Further information on the program and eligibility requirements are
available at http://www.schwab.com/loandiscounts.
About Charles Schwab Bank
Headquartered in Reno, Nevada, Charles Schwab Bank, N.A. provides a
variety of deposit and lending services including, checking, savings, money
market, CD accounts, home mortgages, HELOCs, Pledged Asset Mortgages,
credit cards, and debit cards. Deposits are FDIC-insured. Clients can learn
more about bank products and services, including the Schwab Bank Visa
credit card and Schwab Bank Investor Checking, by phone, mail or at
schwabbank.com. Charles Schwab Bank, N.A. is a subsidiary of The Charles
Schwab Corporation.
Charles Schwab Bank, N.A. Equal Housing Lender (Member FDIC)
About Charles Schwab
The Charles Schwab Corporation (Nasdaq: SCHW) is a leading provider of
financial services, with more than 330 offices and 6.8 million client
brokerage accounts, 535,000 corporate retirement plan participants, 181,000
banking accounts, and $1.3 trillion in client assets. Through its operating
subsidiaries, the company provides a full range of securities brokerage,
banking, money management and financial advisory services to individual
investors and independent investment advisors. Its broker-dealer
subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org),
offers a complete range of investment services and products including an
extensive selection of mutual funds; financial planning and investment
advice; retirement plan and equity compensation plan services; referrals to
independent fee-based investment advisors; and custodial, operational and
trading support for independent, fee-based investment advisors through its
Schwab Institutional division. The Charles Schwab Bank, N.A. (member FDIC)
provides banking and mortgage services and products. The company's other
operating subsidiaries include U.S. Trust Corporation (member FDIC) and
CyberTrader(R), Inc. (member SIPC, http://www.sipc.org). More information
is available at http://www.schwab.com. (1006-3466)
Brokerage Products: Not FDIC Insured * No Bank Guarantee * May Lose
Value
SOURCE Charles Schwab
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Related links:
http://www.schwab.com/
CONTACT:
Lindsay Tiles of Charles Schwab,
+1-415-667-3997, or lindsay.tiles@schwab.com
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