Deposits

CERTIFICATES OF DEPOSIT
AND INDIVIDUAL RETIREMENT ACCOUNTS

Rates effective July 20, 2017                                              

Online Account Opening is available for a limited number of CD Products.

Term Deposit Certificate Rates

Term In Months Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
3 Month .50% .50% $ 500.00 $ 1.00
6 Month .50% .50% $ 500.00 $ 1.00
7 Month .50% .50% $ 500.00 $ 1.00
9 Month .50% .50% $ 500.00 $ 1.00
12 Month .75% .75% $ 500.00 $ 1.00
15 Month .75% .75% $ 500.00 $ 1.00
18 Month 1.73% 1.75% $ 500.00 $ 1.00
20 Month 1.00% 1.00% $ 500.00 $ 1.00
24 Month 1.98% 2.00% $ 500.00 $ 1.00
30 Month 1.49% 1.50% $ 500.00 $ 1.00
36 Month 1.49% 1.50% $ 500.00 $ 1.00
40 Month 1.73% 1.75% $ 500.00 $ 1.00
48 Month 1.73% 1.75% $ 500.00 $ 1.00
60 Month 1.98% 2.00% $ 500.00 $ 1.00

 

Certificate of Deposit rates and Annual Percentage Yields are fixed for the duration of the term. Penalties apply for early withdrawals of principal from Certificates of Deposit. Interest posted during the current term may be withdrawn without penalty.

 

MONEY MARKET ACCOUNTS

Rates effective July 20, 2017

Super Money Market Rates

SUPER MONEY MARKET INTEREST RATE ANNUAL PERCENTAGE YIELD (APY) MINIMUM BALANCE TO OPEN MINIMUM BALANCE TO EARN APY
Balances less than $150,000 .25% .25% $150,000.00 $1.00
Balances $150,000-$249,999.99 1.54% 1.55% $150,000.00 $150,000.00
Balances $250,000.00 and above 1.98% 2.00% $150,000.00 $250,000.00

Rates are variable and subject to change at any time without notice.  A minimum balance of $150,000 is required to open the account and avoid a $10 monthly service charge. Maximum balance is $10 million. Transaction limits apply.  Fees may reduce earnings.

Platinum Combo Rates

Platinum Money Market/CD Combo Accounts Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
Platinum Money Market balances less than $250,000 .25% .25% $ 250,000.00 $ 1.00
Platinum Money Market balances $250,000 and above 1.00% 1.00% $ 250,000.00 $ 250,000.00
Platinum 36 Month CD 2.47% 2.50% $250,000.00 $250,000.00
Platinum 48 Month CD 2.47% 2.50% $ 250,000.00 $ 250,000.00

Rates are variable and subject to change at any time without notice. A Platinum Money Market Account with a minimum balance of $250,000 and a Platinum 36 or 48-Month CD with a minimum balance of $250,000, with a combined statement, are required to open, maintain and earn the advertised Annual Percentage Yield (APY). If Platinum Money Market Account balances drop below $250,000, a $10.00 monthly service charge will be assessed and APY will be reduced. If the CD portion of the combined account is closed or falls below $250,000, the Platinum Money Market Account will revert back to the  Bank’s Traditional Money Market Account APYs. In addition, if minimum balances are not maintained in both accounts at all times, the APY on the Certificate of Deposit will change for the remainder of the term to a predetermined rate disclosed at account opening. Maximum CD balance is $1.5 million and maximum Money Market balance is $10 million for a combined maximum balance of $11.5 million. Transaction limits apply. Account title must be the same on all accounts. Fees may reduce earnings.  Penalty will be imposed for early withdrawal on the Certificate of Deposit. Individual Retirement Account (IRA) funds are not eligible for this product.

Money Market Account Rates

Money Market Accounts Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
Balances less than $1,000 .25% .25% $ 1,000.00 $ 1.00
Balances $1,000-$49,999.99 .25% .25% $ 1,000.00 $ 1,000.00
Balances $50,000-$99,999.99 .35% .35% $ 1,000.00 $ 50,000.00
Balances $100,000 and above .50% .50% $ 1,000.00 $ 100,000.00

APY denotes Annual Percentage Yield. A minimum balance of $1,000 is required to open and avoid a $5 monthly service charge.

FOR ALL MONEY MARKET ACCOUNTS:

A $5 fee will be charged for each third party transaction in excess of 6 per month.  Transfers from a money market account including those to third parties are limited to 6 per month.  These transactions include preauthorized, automatic, telephone or computer transfers, checks, drafts, debit card or ATM point-of-sale purchases, or similar orders to third parties.

All money market account rates are variable and subject to change without notice, which means that the rate of interest and Annual Percentage Yield may change after the account is opened. Fees could reduce earnings.

 

SAVINGS ACCOUNTS

Rates effective July 20, 2017

Passbook and Statement Savings Rates

Account Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
Passbook and Statement Savings .25% .25% $ 10.00 $ 1.00

APY denotes Annual Percentage Yield. A minimum balance of $10.00 is required to open and avoid a $1 monthly service charge.

Preferred Savings Rates

Account Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
Balances less than $50,000 .25% .25% $ 50,000.00 $ 1.00
Balances $50,000 and above .40% .40% $ 50,000.00 $ 50,000.00

APY denotes Annual Percentage Yield. A minimum balance of $50,000 is required to open and avoid a $10 monthly service charge.

FOR ALL SAVINGS ACCOUNTS:

A $5 fee will be charged for each third party transaction in excess of 6 per month. Transfers from a savings account including those to third parties are limited to 6 per month.  These transactions include preauthorized, automatic, telephone or computer transfers, checks, drafts, debit card or ATM point-of-sale purchases, or similar orders to third parties.  All savings accounts rates are variable and subject to change without notice, which means that the rate of interest and Annual Percentage Yield may change after the account is opened. Fees could reduce earnings.

 

CHECKING ACCOUNTS

Rates effective July 20, 2017

Personal Checking Rates

Account Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
Personal Checking .25% .25% $ 10.00 $ 1.00

APY denotes Annual Percentage Yield. A minimum balance of $500 is required to open and avoid a $5 monthly service charge. The above rates are variable rates, which means that the rate of interest and APY may change after the account is opened. Fees could reduce earnings.

Bonus Checking Rates

Account Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
Qualifying Balances of $50,000 or less 0.75% 0.75% $ 10.00 $ 500.00
Funds In Excess of $50,000 and Non-Qualifying Balance 0.25% 0.25% $ 10.00 $ 1.00

Premium interest rate is paid on daily balances up to and including $50,000, and a lower rate is paid on all amounts above $50,000 for each statement cycle that minimum requirements are met. This is a variable rate account; the interest rate and APY may change at any time after account is opened. Minimum balance to open this account is $10. A $10 monthly service charge will be assessed if your daily minimum balance falls below $500. Available on personal accounts only. To earn the higher rate of interest, you must meet the following each statement cycle: 1) perform at least 10 Institution for Savings Visa® Debit Card purchases from this account (transactions done at ATMs do not qualify); 2) have at least 1 direct deposit to this account; 3) pay at least 3 bills monthly from this account using our Bill Pay; 4) agree to receive your monthly account statement electronically; and 5) maintain a $500 minimum daily balance. When these conditions are not met, the lower rate of interest will apply and foreign ATM fees will not be refunded for that statement cycle. Fees may reduce earnings.

 

BUSINESS MONEY MARKET ACCOUNTS

Rates effective July 20, 2017

Platinum Combo Rates

Platinum Money Market/CD Combo Accounts Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
Platinum Money Market balances less than $250,000 .25% .25% $ 250,000.00 $ 1.00
Platinum Money Market balances $250,000 and above 1.00% 1.00% $ 250,000.00 $ 250,000.00
Platinum 36 Month CD 2.47% 2.50% $ 250,000.00 $ 250,000.00
Platinum 48 Month CD 2.47% 2.50% $ 250,000.00 $ 250,000.00

Rates are variable and subject to change at any time without notice. A Platinum Money Market Account with a minimum balance of $250,000 and a Platinum 36 or 48 Month CD with a minimum balance of $250,000, with a combined statement, are required to open, maintain and earn the advertised Annual Percentage Yield (APY). If Platinum Money Market Account balances drop below $250,000, a $10.00 monthly service charge will be assessed and APY will be reduced. If the CD portion of the combined account is closed or falls below $250,000, the Platinum Money Market Account will revert back to the  Bank’s Traditional Money Market Account APYs. In addition, if minimum balances are not maintained in both accounts at all times, the APY on the Certificate of Deposit will change for the remainder of the term to a predetermined rate disclosed at account opening. Maximum combined  balance is $1.5 million. Transaction limits apply. Account title must be the same on all accounts. Fees may reduce earnings.  Penalty will be imposed for early withdrawal on the CD.

Business Money Market Account Rates

Business Money Market Accounts Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
Balances less than $2,500 .25% .25% $ 2,500.00 $ 1.00
Balances $2,500-$49,999.99 .25% .25% $ 2,500.00 $ 2,500.00
Balances $50,000-$99,999.99 .35% .35% $ 2,500.00 $ 50,000.00
Balances $100,000 and above .50% .50% $ 2,500.00 $ 100,000.00

APY denotes Annual Percentage Yield. A minimum balance of $2,500 is required to open and avoid a $10 monthly service charge.

FOR ALL BUSINESS MONEY MARKET ACCOUNTS:

A $5 fee will be charged for each third party transaction in excess of 6 per month. Transfers from a money market account including those to third parties are limited to 6 per month. These transactions include preauthorized, automatic, telephone or computer transfers, checks, drafts, debit card or ATM point-of-sale purchases, or similar orders to third parties.

All business money market account rates are variable and subject to change without notice, which means that the rate of interest and Annual Percentage Yield may change after the account is opened. Fees could reduce earnings.

BUSINESS SAVINGS ACCOUNTS

Rates effective July 20, 2017

Business Statement Savings Rates

Business Statement Savings  Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
Statement Savings .25% .25% $ 1,000.00 $ 1.00

APY denotes Annual Percentage Yield. A minimum balance of $1000 is required to open and avoid a $10 monthly service charge.

Business Preferred Savings Account

Account Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
Balances less than $50,000 .25% .25% $ 50,000.00 $ 1.00
Balances $50,000 and above .40% .40% $ 50,000.00 $ 50,000.00

APY denotes Annual Percentage Yield. A minimum balance of $50,000 is required to open and avoid a $10 monthly service charge.

FOR ALL BUSINESS SAVINGS ACCOUNTS:

A $5 fee will be charged for each third party transaction in excess of 6 per month.  Transfers from a savings account including those to third parties are limited to six per month.  These transactions include preauthorized, automatic, telephone or computer transfers, checks, drafts, debit card or ATM point-of-sale purchases, or similar orders to third parties.

All business savings rates are variable  and subject to change without notice, which means that the rate of interest and Annual Percentage Yield may change after the account is opened. Fees could reduce earnings.

 

BUSINESS CHECKING ACCOUNTS

Rates effective July 20, 2017

Simple Business NOW Checking

Account Interest Rate Annual Percentage Yield (APY) Minimum Balance To Open Minimum Balance To Earn APY
Simple Business NOW Checking .25% .25% $ 10.00 $ 1.00

 

Business Sweep Account

Business Sweep Account ** Interest Rate Annual Percentage Yield (APY) Minimum Balance To Earn APY
Balance $0.00 to $99,999.99 .25% 0.25% $ 1.00
Balance $100,000 to $249,999.99 .25% .25% $ 100,000.00
Balance $250,000 to $499,999.99 .35% .35% $ 250,000.00
Balance $500,000 and above .50% .50% $ 500,000.00

** Funds invested in a Sweep Account are secured by a United States Government Agency Bond held in a custodial account at the Federal Home Loan Bank of Boston. Funds held by the Bank in repurchase accounts are not deposits and such funds are not FDIC insured.