The Online Banking and Mortgage Application websites may have a different privacy policy, security level, and terms and conditions than those offered on Toyotabank.com.
Please take a moment to view our Frequently Asked Questions. For any additional questions or information, please contact Client Support at 888-264-0558 (ext 4) or email TFSB.Client.Services@toyota.com.
GENERAL
- High-Yield Savings Products – Money Market Deposit Accounts, Certificates of Deposit, and Savings Accounts
- Lending Products – Residential Mortgages, Home Equity Loans, and Team Member Relocation Mortgages
No. We do not have public, physical branch locations, however our headquarters office is in Henderson, NV
HIGH-YIELD SAVINGS PRODUCTS
To view rates and other important information regarding our High-Yield Savings Products, click here or visit our homepage, scroll down to the Money Market Deposit Accounts or Certificate of Deposit (CDs) modules, and click on the “APYs, Fees, Terms and disclosures” link.
Our deposit balances are FDIC insured to the legal maximum. The standard deposit insurance amount is $250,000 per depositor, per FDIC- insured bank, per ownership category. To learn more, contact the FDIC toll-free at 1-877-275-3342 or visit https://www.fdic.gov/deposit/
There are three ways you can open an account.
1. Visit our High-Yield Savings Products page for more details. From there, you can select the product you’re interested in, and follow the appropriate steps to open an account.
2. You can also schedule an appointment with your Personal Banker for a day and time that works for you. We can assist you in providing products that may suit your financial needs.
3. Finally, you can contact Toyota Bank Client Support at 888-264-0558 (ext 4) or email TFSB.Client.Services@toyota.com for more information, or assistance in opening an account.
For a Money Market Deposit Account (MMDA), transfers from a Personal Money Market account to another account or to a third party by preauthorized, automatic, telephone, or computer transfer, or by check, draft, or similar order to third parties are limited to six per monthly statement cycle).
For a Savings Account, transfers from a Personal Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per monthly statement cycle with no transfers by check, draft, or similar order to third parties. Please note that checks are limited to MMDAs only.
Minimum opening deposit for a Personal Money Market and a Personal Savings Account is $500.00. Minimum opening deposit for a Business Money Market and a Business Savings Account is $2,500.00. Interest Rates and APYs on Money Market and Savings accounts may change after the account is open.
You can withdraw funds from your MMDA by transferring funds from your Toyota Bank account into another Toyota Bank account, or transferring to your account at another institution. Please note: you are allowed six transactions per statement cycle (checks, transfers, or withdrawals). Please contact Client Support at 888-264-0558 (ext 4) or email TFSB.Client.Services@toyota.com for more information.
Yes. When you open a MMDA, you are provided a checkbook. Checks can be used the same way you use for your checking account at other financial institutions to withdraw funds or pay third parties. . However, unlike checks at other financial institutions there is a six transfer limit per statement cycle. Transfers from a MMDA to another account or to third parties by preauthorized, automatic, telephone, or computer transfer, or by check, draft, or similar order to third parties are limited to six per monthly statement cycle. You may request subsequent checkbooks. First check order is free. Fees apply to subsequent check orders.
You can withdraw funds from your Savings account by transferring funds from your Toyota Bank account into another Toyota Bank account, or to your account at another institution. Transfers from a Personal Savings account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per monthly statement cycle with no transfers by check,draft, or similar order to third parties. Please contact Client Support at 888-264-0558 (ext 4) or email TFSB.Client.Services@toyota.com for more information.
You can add funds at account opening, or maturity upon renewal. You can also open another CD account.
CD statements are issued on quarterly statement cycle. Interest is paid every quarter from the account open date. Balances and transactions can be viewed through our online banking portal or mobile app. Visit www.toyotabank.com to log in to your account or download the Toyota Bank mobile app (available on the App Store). For any other questions, please contact Client Support at 888-264-0558 (ext 4) or email TFSB.Client.Services@toyota.com for more information.
Yes. You can set up an ACH transaction to be debited to your account via our online banking platform by doing the following:
1. Visit www.toyotabank.com or download the Toyota Bank mobile app.
2. Click LOGIN at the top right of the page.
3. Login into your account. If you do not have an online banking account, you will need to enroll by clicking the Personal or Commercial sign-up links near the bottom of the pop-up window.
Please note: you are allowed six transactions per statement cycle (checks, transfers, or withdrawals). Please contact Client Support at 888-264-0558 (ext 4) or email TFSB.Client.Services@toyota.com for more information.
For a Home Loan product, tax statements are available online. Click here and sign in, navigate to the “Education” tab; under “Welcome to Your Learning Center”, navigate to “IRS Forms”. Your year-end tax forms will be available for download here, including: 1098, 1099-INT, 1099-C, 1042-S, and 1099-A.
For a Savings Product (Money Market Deposit Account, Certificate of Deposit, or Savings Account), tax statements are mailed annually at the end of every January. If you would like a copy, please contact Client Support at 888-264-0558 (ext 4) or email TFSB.Client.Services@toyota.com for more information.
To provide updates to your insurance information, you can choose from the following:
Fax updated insurance information to 843-413-7133.
Upload updated insurance information to www.mycoverageinfo.com
Email updated coverage information to cen300@mycoverageinfo.com
Please contact Client Support at 888-264-0558 (ext 4) or email TFSB.Client.Services@toyota.com for more information.
The minimum opening deposit for a Personal Money Market Deposit Account and a Personal Savings Account is $500.00. The minimum opening deposit for a Business Money Market Deposit Account and a Business Savings Account is $2,500.00. The minimum opening deposit for a Certificate of Deposit account is $1.00.
No, we do not offer checking accounts. Our Money Market Deposit Accounts do have checks, subject to transaction limitations. Please note – you are allowed six transactions per statement cycle (checks, transfers, or withdrawals).
Yes, direct deposit into your Toyota Bank Savings Accounts and/or Money Market Deposit Accounts can be set up from My ToyotaPay (Payroll WorkCenter).
HOME LOAN
- Conforming and Jumbo loans to accommodate all loan sizes
- Fixed rate mortgages with various term lengths
- Adjustable-rate mortgages (Standard and Interest-Only payments available)*
*On Standard adjustable-rate mortgages (ARMs)s, payments during the initial fixed-rate term are amortizing payments of principal and interest, after which the interest rate will become variable and may adjust annually, with amortizing principal and interest payments made for the remainder of the loan term. On Interest-Only ARMs, payments during the initial fixed-rate term are of interest only, after which the interest rate will become variable and may adjust annually, with amortizing principal and interest payments made for the remainder of the loan term.
“New Construction” loans are short-term loans that enable construction of a project to completion. Upon completion, the permanent loan or “end financing” will be used to pay off the interim “New Construction” loan. At this time, we do not offer “New Construction” loans.
Yes, we service all of our Residential Mortgage products. We will not sell your loan and do not currently sell our loans on the secondary market.
At this time, we do not offer FHA, VA, or USDA loans.
Yes, Toyota Bank complies with all applicable State and Federal laws and regulations.
Yes.
The down payment requirement will vary based on several factors including but not limited to credit score and type of occupancy. A Private Banker will be glad to discuss your options.
Rate locks go into effect at the time of submission of your loan application and are in effect for 60 days.
No, Toyota Bank no longer locks or issues a commitment on a pending Residential Mortgage loan.
We do not require PMI on any of our mortgage loans.
Yes, a minimum down payment is required. Underwriting will determine the amount of a required down payment applicable to your application.
A payoff statement is a document that entails the exact amount of money needed to fully pay off your loan. Please call 877-772-9633 to request a payoff statement mailed to your address. You can also request a payoff statement via online banking (payoff will be posted to your online banking account). Visit www.toyotabank.com to log in to your account, or to download the Toyota Bank mobile app (mobile app can be downloaded from the App Store). Please contact Client Support at 888-264-0558 (ext 4) or email TFSB.Client.Services@toyota.com for more information.
Yes. You can have a maximum of five total mortgage loans active at any one time with Toyota Bank.
To make a mortgage payment over the phone, please call our automated payment line: 866-430-9683. Please have your account information ready when you call as you will be prompted to provide the information to verify your account and make a payment over the phone. There is no fee for this transaction.
No.
- We’re not just a bank, we’re your family, and our in-house service means we can get you set up quickly with much of the documentation needed already on hand.
- As your dedicated Personal Loan Officer, we’ll work around your schedule and make the process as easy and convenient as possible for you.
- For relocation mortgages, we offer an in-depth knowledge of Toyota relocation benefits to help ensure full optimization of your relocation benefits under the Toyota Relocation Program
TEAM MEMBER RELOCATION MORTGAGES
All of the FAQ responses related to Home Loans apply to Team Member Relocation Mortgages. In addition to the previously provided information, please see below for additional information specific to this program.
Team Member Relocation mortgages are loans available to Toyota Team Members undertaking a company-sponsored move. These mortgages utilize benefits provided by the Toyota Team Member Relocation program. These loans are only available to Toyota Team Members participating in this program.
Once your Toyota Human Resources contact has authorized your relocation under the Toyota Team Member Relocation program and notified your designated relocation company, you will then be eligible to apply to Toyota Bank for a Team Member Relocation mortgage. Your designated Relocation Consultant can advise on this process.
An application for a Team Member Relocation Mortgage can be submitted without confirmation from an approved relocation company. However, the borrower cannot close or fund a mortgage using Toyota Team Member Relocation program benefits until the benefits are confirmed with the relocation company.
You may apply for a Team Member Relocation Mortgage loan and if approved, you may request a prequalification letter at any time. However, to receive relocation benefits under the Toyota Team Member Relocation program, you will need authorization from Toyota Human Resources.
If you are relocating on a company-sponsored move under the Toyota Team Member Relocation program, then we will be able to provide mortgage financing to eligible, qualified applicants. However, please be aware that some relocation packages do not provide a home purchase benefit. Please contact your designated Relocation Consultant who will discuss the relocation benefits available to you.
If your home has been damaged and you need to file a loss claim, please call our insurance department at 866-430-9683. You can also file a loss claim on through our insurance claim website: www.insuranceclaimcheck.com
- On Standard ARMs, payments during the initial fixed-rate term are amortizing payments of principal and interest, after which the interest rate will become variable and may adjust annually, with amortizing principal and interest payments made for the remainder of the loan term. On Interest-Only ARMs, payments during the initial fixed-rate term are of interest only, after which the interest rate will become variable and may adjust annually, with amortizing principal and interest payments made for the remainder of the loan term.
- Adjustable-rate mortgages will have a fixed interest rate for an initial period, the interest rate is subject to change and may increase after consummation of the loan. A notice will be provided each time the interest rate adjusts and results in a corresponding payment change. Please consult your Personal Banker for more information on adjustable-rate mortgages and current interest rates to assist you.
- Must be an in-service Toyota Team Member for minimum of one year and subject to credit approval.
No, Toyota Bank does not have physical branch locations available to the public. Toyota Bank’s headquarters is located in Henderson, NV.
Toyota Bank adheres to the same federal law privacy and information security regulatory standards as other financial institutions. The privacy and security of your personal information is important to us.
No. However, our mortgage loan servicing provider, Cenlar, can assist with setting up monthly auto-draft payments from your bank account after your closing appointment.
We do not require PMI on any our mortgage loans.
Rate locks go into effect at the time of submission of your loan application and are in effect for 60 days
Once your Human Resources department has authorized your relocation under the Toyota Relocation Program and notified your designated relocation company, you will then be eligible to apply to Toyota Bank for a mortgage loan under the Toyota Relocation Program. Your designated Relocation Consultant can advise on this process.
You may apply for a mortgage loan and if your pre-qualification request is approved, you may request a pre-qualification letter at any time. However, to receive relocation benefits under the Toyota Relocation Program, you will need authorization from Human Resources.
No, you must identify a property address before locking in your rate
No, we do not offer FHA or VA loans at this time
Yes, a minimum down payment is required. Underwriting will determine the amount of a required down payment applicable to your application
Your dedicated Personal Loan Officer will be your direct contact from start to finish.
Your Personal Loan Officer will provide you with individualized mortgage loan options to help clarify which mortgage will best meet your needs.
Unlike some other financial institutions, your Personal Loan Officer will be there every step of the way, eliminating much of the guesswork and helping to answer all of your questions from start to finish.
As a Toyota Team Member, you can rest easy knowing we have your back with competitive rates.
The great news is, your mortgage can stay with us even if you leave your position with Toyota.
Yes! Ask your Personal Loan Officer to direct you to other great products created with Team Members in mind, including savings, deposit and other loan products.
* All Account Types: Minimum balance to earn interest: $0.01. Interest Rates and APYs are accurate as of the effective date of the Deposit Rate Sheet. See our APYs, Fees, Terms and Disclosures here. Fees could reduce earnings on these accounts. APYs and other fees and terms stated here may be subject to change without notice. Business Accounts are only available to Dealer Banking Customers. FDIC insurance available to legal limits. Deposit accounts opened at Toyota Financial Savings Bank and Lexus Financial Savings Bank do not receive separate FDIC Insurance coverage and will be combined for purposes of determining the maximum deposit insurance coverage for those deposit accounts. Products offered by Toyota Financial Savings Bank and Lexus Financial Savings Bank.
1. Money Market and Savings Accounts: Minimum opening deposit for a Personal Money Market and a Personal Savings Account is $500.00. Minimum opening deposit for a Business Money Market and a Business Savings Account is $2,500.00. Interest Rates and APYs on Money Market and Savings accounts may change after the account is open.
* All Account Types: Minimum balance to earn interest: $0.01. Interest Rates and APYs are accurate as of the effective date of the Deposit Rate Sheet. See our APYs, Fees, Terms and Disclosures here. Fees could reduce earnings on these accounts. APYs and other fees and terms stated here may be subject to change without notice. Business Accounts are only available to Dealer Banking Customers. FDIC insurance available to legal limits. Deposit accounts opened at Toyota Financial Savings Bank and Lexus Financial Savings Bank do not receive separate FDIC Insurance coverage and will be combined for purposes of determining the maximum deposit insurance coverage for those deposit accounts. Products offered by Toyota Financial Savings Bank and Lexus Financial Savings Bank.
2. Certificates of Deposit: Minimum opening deposit for a Certificate of Deposit account is $1.00. Interest Rates and APYs for Certificates of Deposits are fixed and are guaranteed for the length of the term. All Certificates of Deposits may be subject to an early withdrawal penalty. All Certificates of Deposit are automatically renewable.
*All Account Types: Minimum balance to earn interest: $0.01. Interest Rates and APYs are accurate as of the effective date of the Deposit Rate Sheet. See our APYs, Fees, Terms and Disclosures here. Fees could reduce earnings on these accounts. APYs and other fees and terms stated here may be subject to change without notice. Business Accounts are only available to Dealer Banking Customers. FDIC insurance available to legal limits. Deposit accounts opened at Toyota Financial Savings Bank and Lexus Financial Savings Bank do not receive separate FDIC insurance coverage and will be combined for purposes of determining the maximum deposit insurance coverage for those deposit accounts. Products offered by Toyota Financial Savings Bank and Lexus Financial Savings Bank.
3. FDIC INSURANCE: Funds in your account(s) with us are insured by the Federal Deposit Insurance Corporation (FDIC) and backed by the full faith and credit of the United States. FDIC insurance available to legal limits. Deposit account opened at Toyota Financial Savings Bank and Lexus Financial Savings Bank do not receive separate insurance coverage and will be combined for purposes of determining the maximum deposit insurance coverage for those deposit accounts.
* All Account Types: Minimum balance to earn interest: $0.01. Interest Rates and APYs are accurate as of the Deposit Rate Sheet. See our APYs, Fees, Terms and Disclosure here. Fees could reduce earnings on these accounts. APYs and other fees and terms stated here may be subject to change without notice. Business Accounts are only available to Dealer Banking Customers. FDIC insurance available in legal limits. Deposit accounts opened at Toyota Financial Savings Bank and Lexus Financial Savings Bank do not receive seperate FDIC insurance coverage and will be combined for purposes of determining the maximum deposit insurance coverage for those deposit accounts. Products offered by Toyota Financial Savings Bank and Lexus Financial Savings Bank.
4. Upon completion of approved application and subject to eligibility requirements.