Bank Deposit Rates
Checking Rates*
Effective Date: Saturday, March 6, 2021
| Type | Minimum Daily Balance to earn APY* | APY | |
|---|---|---|---|
| Rewards Checking** (Requirements are met) | $10.00 | 1.000% | Open An Account |
| $25,000.00 | 0.020% | ||
| Rewards Checking** (Requirements NOT met) | $10.00 | 0.020% |
*Annual Percentage Yield (APY) and rate subject to change without notice. Rate may change after the account is opened. Fees could reduce earnings on account. Please consult a Personal Banking Manager for information about fees and terms for these accounts.
The above term A.P.Y. Represents Annual Percentage Yield. Fees may reduce the earnings on the account. We may change the interest rate and A.P.Y after the account is opened for variable rate. Bank interest rates vary based on a number of factors, ranging from your credit score to the amount of money you have on deposit with the bank. Keep reading to learn about major product categories, along with current U.S. Bank interest rates and suggestions on how you can get the best rates at the bank.
- Synchrony Bank’s cuts were small, with no rate cut on its 5-year term. Sallie Mae Bank’s cuts were larger with its 5-year CD rate falling 15 bps to 0.45%. Not all of the rate changes were cuts at the major online banks. TIAA Bank increased its CD rates in the last two weeks.
- Deposit Rates For great deposit rates in New Jersey, look to Freedom Bank today! Interest rates and annual percentage yields (APY) are effective as of.
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**1.00% Annual Percentage Yield (APY) as of 2/1/21 is paid on balances up to, and including, $24,999.99 provided all other account requirements are met for the current statement cycle. For balances $25,000.00 and above, the interest rate and APY of 0.02% will be paid on the portion of your daily balance that is $25,000.00 or greater. If requirements are not met, the interest rate of 0.02% APY will be paid on balances above and including $10. The APY will range downward from 1.00% depending on the balance in the account. For example, the APY, for a balance of $50,000.00 would be 0.51%. Normal activity charges will apply. Fees could reduce earnings. Rates may change at any time without prior notice. Rates may change after account opening. Requirements for each statement cycle are: at least 10 debit card purchases posted per statement cycle, sign up and use Online Banking and Bill Pay at least once per statement cycle, receive at least one direct deposit per statement cycle, and receive a monthly eStatement. If requirements are met, South Shore Bank will refund up to $10 per statement cycle for another bank's ATM surcharges & will not charge a foreign ATM fee for using another bank's ATM. Account requirements will be waived for the first statement cycle. Offer may be withdrawn at any time. One account per tax reporting owner. A statement cycle ends the last business day of a calendar month.
Central Bank Disclosure of Deposit Yields & Rates
Effective Dates: March 1, 2021 – March 9, 2021
Type | Name | APY* | Interest Rate | Minimum Balance to Obtain APY |
|---|---|---|---|---|
Checking Accounts | Central Interest/Business Interest/Business 250 Interest Checking | 0.05% | 0.050% | $1.00 |
Checking Accounts | Platinum Checking | 0.10% | 0.100% | $50,000 |
Checking Accounts | Platinum Checking | 0.05% | 0.050% | $10,000 |
Checking Accounts | Platinum Checking | 0.05% | 0.050% | $1.00 |
Health Savings Account | Health Savings Accounts | 0.05% | 0.050% | $1.00 |
Savings Accounts | Savings Accounts | 0.05% | 0.050% | $1.00 |
Money Market Accounts | Money Market/Money Market Plus | 0.05% | 0.050% | $2,500 or > (>$1 for MM+) |
Money Market Accounts | Money Market/Money Market Plus | 0.05% | 0.050% | $2,499 or < (N/A for MM+) |
Central Money Market | Personal | 0.05% | 0.050% | < $10,000 |
Central Money Market | Personal | 0.05% | 0.050% | $10,000 to $49,999 |
Central Money Market | Personal | 0.05% | 0.050% | $50,000 to $99,999 |
Central Money Market | Personal | 0.10% | 0.100% | $100,000 to $249,999 |
Central Money Market | Personal | 0.15% | 0.150% | $250,000 or > |
Central Money Market | Nonpersonal | 0.05% | 0.050% | < $10,000 |
Central Money Market | Nonpersonal | 0.05% | 0.050% | $10,000 to $49,999 |
Central Money Market | Nonpersonal | 0.05% | 0.050% | $50,000 to $99,999 |
Central Money Market | Nonpersonal | 0.05% | 0.050% | $100,000 to $249,999 |
Central Money Market | Nonpersonal | 0.05% | 0.050% | $250,000 or > |
Certificate of Deposit | 7 to 31 Days | 0.05% | 0.050% | $20,000 |
Certificate of Deposit | 32 to 89 Days | 0.05% | 0.050% | $5,000 |
Certificate of Deposit | 90 to 179 Days | 0.10% | 0.100% | $2,500 |
Certificate of Deposit | 180 to 364 Days | 0.15% | 0.150% | $1,000 |
Certificate of Deposit | 1 Year | 0.15% | 0.150% | $500 |
Certificate of Deposit | 2 Years | 0.20% | 0.200% | $500 |
Certificate of Deposit | 3 Years | 0.30% | 0.300% | $500 |
Certificate of Deposit | 4 Years | 0.40% | 0.399% | $500 |
Certificate of Deposit | 5 Years | 0.50% | 0.499% | $500 |
Current CD Specials | Central Advantage (1 year – individuals only) | 0.10% | 0.100% | $2,500 |
Current CD Specials | CD Management Account (1 year – variable rate) | 0.05% | 0.045% | $2,500 |
Individual Retirement Accounts | Variable Rate – 18 Months | 0.15% | 0.150% | $100 |
Individual Retirement Accounts | Fixed Rate – 6 Months | 0.15% | 0.150% | $500 |
Individual Retirement Accounts | Fixed Rate – 12 Months | 0.15% | 0.150% | $500 |
Individual Retirement Accounts | Fixed Rate – 24 Months | 0.20% | 0.200% | $500 |
Individual Retirement Accounts | Fixed Rate – 36 Months | 0.30% | 0.300% | $500 |
Individual Retirement Accounts | Fixed Rate – 60 Months | 0.50% | 0.499% | $500 |