Competitive Rates

Competitive Rates

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Content: Effective November 25, 2020

Checking

Interest CheckingRateAPYMinimum Deposit to Open
$500 Minimum Balance0.25%0.25%$500
Money MarketRateAPYMinimum Deposit to Open
$500 to $999,999.990.40%0.40%$500
$1,000,000 and above0.30%0.30%$500

Savings

Savings ProductsRateAPYMinimum Deposit to Open
Savings & IRA Savings – $100 to $999,999.990.50%0.50%$25
Savings & IRA Savings – $1,000,000 and above0.50%0.50%$25
Club Accounts – $10 and above0.50%0.50%$10
Other Savings Products0.50%0.50%$25
Interest on Lawyer Accounts0.30%0.30%$0
Community Chest0.10%0.10%$25

Certificates of Deposit

Term: Certificates of DepositRateAPYMinimum Deposit to Open
90 Day0.15%0.15%$250
180 Day (6 months)0.20%0.20%$250
1 Year (12 months)0.50%0.50%$250
1 1/2 Years (18 Months)0.50%0.50%$250
2 Years (24 Months)0.50%0.50%$250
3 Years (36 Months)0.50%0.50%$250
4 Years (48 Months)0.50%0.50%$250
5 Years (60 Months)0.50%0.50%$250

The APY is the Annual Percentage Yield, which is based on interest compounded daily. Fees may reduce earnings on your account (see Fee Schedule for details). Rates on Checking and Savings products are subject to change at Spring Bank’s discretion. Rates on Certificates of Deposits are fixed at opening. Early withdrawal penalties apply.

Our Promise

We don’t take it lightly that you trust us with your money. In fact, the best part about working here is getting to know our customers and their families. You’ll soon find out that you are far from a number here. On the contrary, you become part of the Spring Bank Family. We can’t wait to get to know you.

Schedule an Appointment

Ready to grow with us? Come in and talk to one of our account managers to see how we can help. You can open a checking account, apply for a loan, open an IRA account and much more. Use the form below to schedule an appointment:

Open Business Checking Account Online in New York

Have any questions? Stop by a branch or call us at (718) 879-5000.