Frequently Asked Questions

Opening an account with terrabanlk1 is simple and can be done entirely online. You'll need to provide some personal information including your Social Security number, a valid government-issued ID, and proof of address. Our online application takes about 10 minutes to complete, and you'll receive your account details immediately upon approval.

terrabanlk1 offers several checking account options with different minimum balance requirements:

• Basic Checking: $25 minimum daily balance
• Premium Checking: $1,000 minimum daily balance
• Student Checking: No minimum balance requirement

terrabanlk1 customers enjoy fee-free ATM access at over 50,000 ATMs nationwide. For out-of-network ATMs, we reimburse up to $15 in fees per month when you maintain a minimum balance of $5,000 across all your terrabanlk1 accounts. Additionally, you can always get cash back when making purchases at most retail locations.

terrabanlk1 provides a comprehensive range of investment products including:

• Certificates of Deposit (CDs) with terms from 3 months to 5 years
• Money Market Accounts with competitive interest rates
• IRA accounts (Traditional, Roth, and SEP)
• Managed investment portfolios with personalized strategies
• Access to stocks, bonds, and ETFs through our brokerage platform

All investments carry some degree of risk. The main types of investment risk include:

• Market Risk: The possibility of investments losing value due to economic developments
• Inflation Risk: The danger that inflation will erode investment returns
• Interest Rate Risk: Bond prices typically fall when interest rates rise
• Liquidity Risk: Some investments may be hard to sell quickly

Our financial advisors can help you understand these risks and create a portfolio that matches your risk tolerance.

terrabanlk1 provides a variety of loan products to meet your financial needs:

• Mortgage Loans: Fixed-rate, adjustable-rate, FHA, VA, and jumbo loans
• Auto Loans: New and used car financing with competitive rates
• Personal Loans: For debt consolidation, home improvements, or major purchases
• Home Equity Loans: Access the equity in your home
• Student Loans: Undergraduate and graduate education financing

Loan pre-approval is a preliminary evaluation of your creditworthiness that gives you an estimate of how much you may be able to borrow. The process involves:

1. Completing a loan application (can be done online)
2. Providing documentation of income, assets, and debts
3. Allowing us to check your credit report
4. Receiving a pre-approval letter valid for 60-90 days

Pre-approval strengthens your position when making offers on homes or vehicles, as sellers know you're a serious buyer.