Murphy Bank
Frequently Asked QuestionsFAQs
You’ve got questions, we’ve got answers
Keep reading for answers to our frequently asked questions. Don’t see the answer you need? Contact us and we’ll be glad to help.
General FAQs
Can I make my payment with my credit card?
No. We do not accept payments by credit card.
Do you charge a prepayment penalty on your mobile home loans?
No. There is no prepayment penalty charged on our mobile home loans.
How do I open a new account?
When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We will also ask to see your driver’s license or other identifying documents.
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
Can I set up my accounts under my trust?
Yes. Please bring a copy of your trust with you so we can make copies of certain key pages.
Are you FDIC insured?
Murphy Bank is chartered by the Department of Financial Protection and Innovation, and insured by the FDIC.
Can I open an account over the phone or by mail?
We are unable to open an account without at least one authorized signer coming in and setting up the account. Additional signers may come in at a later time to sign documents and present identification.
Can I open a checking account?
No. We do not offer checking accounts.
What kind of accounts do you offer?
Time Certificates of Deposits, Passbook Savings, and Regular Savings.
What do I need to open a CD or savings account?
Legal identification and Social Security Number for each signer on the account. For an account with more than one signer, each person will have to come in and sign.
What is the minimum deposit required to open a Certificate of Deposit?
$1,000
Can I be insured for more than $250,000?
Yes. Call the branch to discuss the many ways two or more related people can setup accounts that will be insured for more than $250,000.
Ag Equipment Financing FAQ
What types of farm equipment can I finance with Murphy Bank?
Murphy Bank offers financing for a wide range of agricultural equipment, including tractors, harvesters, irrigation systems, and more. Whether you’re purchasing new or used machinery, we provide flexible loan options to suit your needs.
Can I finance used farm equipment through Murphy Bank?
Yes, Murphy Bank provides financing for both new and used farm equipment. We understand the importance of affordable options and offer competitive rates for pre-owned machinery.
What is the interest rate for farm equipment loans at Murphy Bank?
Interest rates for farm equipment loans vary based on factors such as loan term, amount, and creditworthiness. Murphy Bank offers competitive rates with fixed terms, ensuring predictable payments.
How long can I finance farm equipment with Murphy Bank?
Loan terms for farm equipment financing at Murphy Bank are flexible and can be tailored to your business’s needs. Typical terms range from 12 to 60 months, depending on the equipment and your financial situation.
What are the eligibility requirements for a farm equipment loan?
Eligibility for a farm equipment loan with Murphy Bank includes factors such as credit history, income, and the specific equipment being financed. Our local decision-makers work with you to understand your unique situation and provide personalized financing solutions.
Can I use farm equipment loans for operating capital?
Yes, Murphy Bank allows you to borrow against your paid equipment for operating capital. This provides additional flexibility to manage your farm’s cash flow and operational expenses.
How do I apply for a farm equipment loan with Murphy Bank?
You can start the application process by contacting Murphy Bank directly or visiting our Fig Garden Village branch in Fresno or our San Luis Obispo office. Applications can also be submitted via fax or mail.
Are there any fees associated with farm equipment loans?
Murphy Bank strives to keep fees minimal and transparent. Unlike SBA loans or credit card purchases, our equipment financing options are straightforward, helping you avoid high-interest rates and hidden fees.
What documents do I need to apply for a farm equipment loan?
Typically, you’ll need to provide business financial statements, personal and business tax returns, proof of income, and information about the equipment. Specific requirements may vary, so it’s advisable to contact Murphy Bank for detailed information.
Why choose Murphy Bank for farm equipment financing?
Murphy Bank offers personalized service, competitive rates, and flexible loan options tailored to the agricultural industry. Our local decision-makers understand the unique challenges of farming and are committed to helping you grow your business.
Certificate of Deposit (CD) FAQ
What are the current CD rates at Murphy Bank?
Murphy Bank offers competitive CD rates that vary based on the term and amount. Visit our CD Rates page for the latest information on our offerings.
How does a Certificate of Deposit (CD) work?
A CD is a fixed-term deposit offered by banks where you earn a guaranteed interest rate. Learn more about how our CD products work and their benefits.
Why should I invest in a Certificate of Deposit at Murphy Bank?
Murphy Bank offers high-yield CD rates, security, and fixed returns, making it an ideal investment for those looking for low-risk savings options.
What are the benefits of a Certificate of Deposit at Murphy Bank?
Investing in a CD at Murphy Bank provides guaranteed returns, FDIC insurance, and flexible terms tailored to your financial goals.
What are the minimum deposit requirements for a CD at Murphy Bank?
Murphy Bank offers CD accounts with a variety of minimum deposit requirements. Visit our CD Rates page for details on specific terms and amounts.
How long do I need to keep my money in a CD at Murphy Bank?
Murphy Bank offers various CD term lengths, from a few months to several years. Choose the term that best suits your financial needs.
Can I access my money early from a CD at Murphy Bank?
While early withdrawals from a CD at Murphy Bank are possible, penalties may apply. Learn more about our early withdrawal policy on our CD Rates page.
What is the interest rate for a 12-month CD at Murphy Bank?
Murphy Bank’s 12-month CD rates are among the best in the region. Visit our CD Rates page to check the current rate for this term.
Are the CD rates at Murphy Bank better than other local banks?
Murphy Bank is known for offering competitive CD rates that often outperform other local banks. Compare our rates today to see the difference.
How do I open a CD at Murphy Bank?
Opening a CD at Murphy Bank is simple. Visit our website to apply online or come by a local branch to get started with our CD account options.
Commercial Vehicle FAQ
What types of commercial vehicles can Murphy Bank finance?
Murphy Bank offers financing for various commercial vehicles, including semi-trucks, box trucks, contractor trucks, mechanic trucks, and tow trucks.
Does Murphy Bank provide financing for fleet vehicles?
Yes, Murphy Bank provides financing options for both individual commercial vehicles and entire fleets, catering to businesses of all sizes.
What industries does Murphy Bank serve with commercial vehicle loans?
Murphy Bank serves a diverse range of industries, including transportation, towing & automotive, moving, construction, agriculture, food & beverage, plumbing, electrical & HVAC, and mining, oil & gas.
What are the benefits of financing with Murphy Bank?
Murphy Bank offers competitive rates, high-mileage leases (up to 35,000 miles per year), streamlined paperwork, and the ability to lease vehicles using your business tax ID, not your personal social security number.
How do I apply for a commercial vehicle loan with Murphy Bank?
You can apply by contacting Murphy Bank directly or visiting their Fig Garden Village branch in Fresno or their San Luis Obispo office. Applications can also be submitted via fax or mail.
What are the loan terms and interest rates for commercial vehicle financing?
Loan terms and interest rates vary based on the vehicle type, loan amount, and creditworthiness. It’s best to contact Murphy Bank directly for specific rate information.
Can I finance used commercial vehicles with Murphy Bank?
Yes, Murphy Bank offers financing for both new and used commercial vehicles, providing flexible options to suit your business needs.
Does Murphy Bank offer leasing options for commercial vehicles?
Yes, Murphy Bank provides leasing options for commercial vehicles, including high-mileage leases, tailored to your business requirements.
What documents are required to apply for a commercial vehicle loan?
Typically, you’ll need to provide business financial statements, personal and business tax returns, proof of income, and information about the vehicle. Specific requirements may vary, so it’s advisable to contact Murphy Bank for detailed information.
Mobile Home Loan FAQ
What is a manufactured home loan at Murphy Bank?
A manufactured home loan at Murphy Bank helps you finance the purchase of a manufactured or mobile home with competitive rates and flexible terms. Learn more about our loan options.
What are the requirements for a mobile home loan?
To qualify for a mobile home loan at Murphy Bank, you’ll need to meet certain credit and income criteria. Visit our page for detailed information on the requirements.
How do I apply for a mobile home loan at Murphy Bank?
Applying for a mobile home loan at Murphy Bank is simple. You can apply online, in-person at any branch, or contact our team for assistance.
What are the current interest rates for mobile home loans at Murphy Bank?
Murphy Bank offers competitive interest rates on mobile home loans. Check our Mobile Home and Manufactured Housing Loans page for the most up-to-date rates.
Can I get financing for a manufactured home on leased land?
Yes, Murphy Bank offers financing for manufactured homes on leased land. Learn more about our flexible loan options for homes on land lease agreements.
What is the difference between a manufactured home loan and a traditional home loan?
A manufactured home loan typically has different eligibility criteria and terms compared to a traditional home loan. Explore the key differences and find out if a manufactured home loan is right for you.
How long can I finance a manufactured home with Murphy Bank?
The term length for manufactured home loans at Murphy Bank depends on the loan amount and type of home. Visit our page for more details on available loan terms.
Are manufactured homes eligible for FHA loans at Murphy Bank?
Yes, Murphy Bank offers FHA loans for eligible manufactured homes. Learn about the benefits of FHA financing for your manufactured home purchase.
Can I use a manufactured home loan for a second home or vacation property?
Murphy Bank provides financing for second homes and vacation properties, including manufactured homes. Check out our loan options for non-primary residences.
What are the benefits of choosing Murphy Bank for a manufactured home loan?
Murphy Bank specializes in manufactured home financing, offering personalized service, competitive rates, and flexible loan options designed to suit your needs.
What is a cash-out refinance and how does it work at Murphy Bank?
A cash-out refinance allows you to refinance your existing mortgage for more than you owe and take the difference in cash. Murphy Bank offers competitive rates and flexible terms for cash-out refinances, helping you access the equity in your home.
What are the benefits of a cash-out refinance with Murphy Bank?
A cash-out refinance with Murphy Bank provides you with the opportunity to access cash for home improvements, debt consolidation, or other financial needs, all while securing a favorable interest rate and terms.
Have a Question?
Contact us now.
Fresno Office
5180 N. Palm Ave. Suite 101
Fresno, CA 93704
Ph: (877) 225-0318 (Toll-Free)
Savings Inquiries - Ph: (559) 225-0225
Lending Inquiries - Ph: (559) 225-0318
Fax: (559) 225-9298
Monday - Friday, 8:30 am - 4:30 pm
San Luis Office
892 Aerovista Place, Suite 110
San Luis Obispo, CA 93401
Ph: (805) 250-2300 | Fax: (805) 787-0415
Monday - Friday, 8:30 am - 4:30 pm