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Competitive Rates
Content: Effective August 11, 2020
Checking
| Interest Checking | Rate | APY | Minimum Deposit to Open |
|---|---|---|---|
| $500 Minimum Balance | 0.25% | 0.25% | $500 |
| Money Market | Rate | APY | Minimum Deposit to Open |
|---|---|---|---|
| $500 to $999,999.99 | 0.50% | 0.50% | $500 |
| $1,000,000 and above | 0.40% | 0.40% | $500 |
Savings
| Savings Products | Rate | APY | Minimum Deposit to Open |
|---|---|---|---|
| Savings & IRA Savings – $100 to $999,999.99 | 0.60% | 0.60% | $25 |
| Savings & IRA Savings – $1,000,000 and above | 0.60% | 0.60% | $25 |
| Club Accounts – $10 and above | 0.60% | 0.60% | $10 |
| Other Savings Products | 0.60% | 0.60% | $25 |
| Interest on Lawyer Accounts | 0.30% | 0.30% | $0 |
| Community Chest | 0.10% | 0.10% | $25 |
Certificates of Deposit
| Term: Certificates of Deposit | Rate | APY | Minimum Deposit to Open |
|---|---|---|---|
| 90 Day | 0.15% | 0.15% | $250 |
| 180 Day (6 months) | 0.20% | 0.20% | $250 |
| 1 Year (12 months) | 0.70% | 0.70% | $250 |
| 1 1/2 Years (18 Months) | 0.75% | 0.75% | $250 |
| 2 Years (24 Months) | 0.75% | 0.75% | $250 |
| 3 Years (36 Months) | 0.80% | 0.80% | $250 |
| 4 Years (48 Months) | 0.85% | 0.85% | $250 |
| 5 Years (60 Months) | 0.90% | 0.90% | $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:
Have any questions? Stop by a branch or call us at (718) 879-5000.
