Competitive Rates

Competitive Rates

Interested in applying now? Please fill out the form below and go through our online application process.

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:

Spring Bank New York

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