Rates
Effective: December 2, 2020
Minimum
|
Minimum Daily
|
Interest Rate |
Annual
|
||
|---|---|---|---|---|---|
CHECKING ACCOUNTS: |
|||||
| SmartEveryday | N/A | 0.01 | 0.05% | 0.05% | |
| Smart55 | N/A | 0.01 | 0.05% | 0.05% | |
| Business Advantage Plus | N/A | 1,000.00 | 0.05% | 0.05% | |
SMART CHECKING: |
|||||
| 0.00 | 25,000.00 | N/A | 0.01 | ||
| 25,000.01 | and above | N/A | 0.01 | ||
| If your daily balance is $25,000.00 or less, the interest rate paid on the entire balance will be 2.00% with an annual percentage yield of 2.02%. An interest rate of 0.05% will be paid only for that portion of your daily balance that is greater than $25,000.00. The annual percentage yield for this tier will range from 0.54% to 2.02%, depending on the balance in the account. | |||||
PRIME FUND: |
|||||
| 0.00 | 24,999.99 | 10,000.00 | 0.00 | 0.00% | 0.00% |
| 25,000.00 | 99,999.99 | 25,000.00 | 0.10% | 0.10% | |
| 100,000.00 | and above | 100,000.00 | 0.15% | 0.15% | |
MONEY MARKET: |
|||||
| 0.00 | 2,499.99 | N/A | 0.01 | 0.02% | 0.02% |
| 2,500.00 | 4,999.99 | N/A | 2,500.00 | 0.02% | 0.02% |
| 5,000.00 | 9,999.99 | N/A | 5,000.00 | 0.05% | 0.05% |
| 10,000.00 | 24,999.99 | N/A | 10,000.00 | 0.05% | 0.05% |
| 25,000.00 | 74,999.99 | N/A | 25,000.00 | 0.05% | 0.05% |
| 75,000.00 | and above | N/A | 75,000.00 | 0.10% | 0.10% |
SAVINGS: Passbook Savings Accounts & Youth Passbook Savings Accounts |
|||||
| 0.00 | 4,999.99 | 10.00 | 0.01 | 0.04% | 0.04% |
| 5,000.00 | 9,999.99 | 5,000.00 | 0.06% | 0.06% | |
| 10,000.00 | and above | 10,000.00 | 0.08% | 0.08% | |
HEALTH SAVINGS ACCOUNTS |
|||||
| 0.00 | 999.99 | 100.00 | 0.01 | 0.05% | 0.05% |
| 1,000.00 | 4,999.99 | 1,000.00 | 0.05% | 0.05% | |
| 5,000.00 | 9,999.99 | 5,000.00 | 0.05% | 0.05% | |
| 10,000.00 | and above | 10,000.00 | 0.05% | 0.05% | |
VARIABLE RATE INDIVIDUAL RETIREMENT ACCOUNTS (IRA): |
|||||
| Traditional, Roth, Educ. | 5.00 | 0.01 | 0.10% | 0.10% | |
Time Certificates & Fixed Rates Individual Retirement Accounts (IRA)
Minimum balance to open – $1,500; Minors (Ages<18) & NPOs – $500 Minimum
Term in
|
Tiers |
Interest Rate |
Annual
|
Term in
|
Tiers |
Interest
|
Annual
|
||
|---|---|---|---|---|---|---|---|---|---|
| 3 | 1,500.00 10,000.00 30,000.00 |
9,999.99 29,999.99 and above |
0.05% 0.07% 0.09% |
0.05% 0.07% 0.09% |
24 | 1,500.00 10,000.00 30,000.00 |
9,999.99 29,999.99 and above |
0.44% 0.47% 0.50% |
0.44% 0.47% 0.50% |
| 6 | 1,500.00 10,000.00 30,000.00 |
9,999.99 29,999.99 and above |
0.11% 0.13% 0.15% |
0.11% 0.13% 0.15% |
30 | 1,500.00 10,000.00 30,000.00 |
9,999.99 29,999.99 and above |
0.52% 0.54% 0.56% |
0.52% 0.54% 0.56% |
| 12 | 1,500.00 10,000.00 30,000.00 |
9,999.99 29,999.99 and above |
0.27% 0.30% 0.33% |
0.27% 0.30% 0.33% |
36 | 1,500.00 10,000.00 30,000.00 |
9,999.99 29,999.99 and above |
0.64% 0.67% 0.70% |
0.64% 0.67% 0.70% |
| 18 | 1,500.00 10,000.00 30,000.00 |
9,999.99 29,999.99 and above |
0.27% 0.30% 0.33% |
0.27% 0.30% 0.33% |
|||||
Specials:
Minimum balance to open – $5,000; |
Minors (Ages<18) & NPOs – $500 Minimum |
|||
|---|---|---|---|---|
| 17 Month | 5,000.00 | 24,999.99 | 0.40% | 0.40% |
| 25,000.00 | 74,999.99 | 0.45% | 0.45% | |
| 75,000.00 | and above | 0.50% | 0.50% | |
The interest rate and annual percentage yield earned on all accounts are set by bank management and may change from time to time without notice. The interest rate and annual percentage yield at which a Time Certificate or Fixed Rate IRA is opened is fixed for the term of that Time Certificate or Fixed Rate IRA unless otherwise stated. Penalty for early withdrawal will be assessed on Time Certificates and Fixed Rate IRAs. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day. Fees may also reduce earnings. Contact a bank employee for further information about fees and applicable terms.