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Rates and Fees

Understanding product rates and fees.

Please take the time to review the rates and fees associated with our products. If you have any questions or concerns, we encourage you to call or visit your local branch.

Deposit Rates

Rates effective July 15, 2013; rates subject to change.

Please keep in mind that rates are subject to change and, with the exception of certificates of deposit, may change after account is opened. No minimum balances required to open personal checking, personal and business savings, and personal and business tiered money market accounts and interest on these accounts is calculated using the daily balance method. There is no minimum balance required to obtain the Annual Percentage Yield.

Business Checking and Savings Rates

Earnings Credits
Annual Percentage Yield
Business Checking Earnings Credit 0.05%
Business Analysis Earnings Credit1 0.10%
Business Savings
Annual Percentage Yield

Statement

0.10%

Passbook 0.10%
Pinnacle 0.10%
Business Tiered Money Market
Annual Percentage Yield
$0 - $2,499.99 0.10%
$2,500- $9,999.99 0.10%
$10,000- $24,999.99 0.10%
$25,000- $49,999.99 0.12%
$50,000- $99,999.99 0.12%
$100,000 and greater 0.15%

1This Earnings Credit is not subject to APY disclosure requirements. The Earnings Credit applies only to the Business Analysis Checking Account

Certificates of Deposit+

Special CDs and Options1
Annual Percentage Yield
2 year Bump-Up CD2
Take advantage of rising rates without closing your account and incurring an early closing penalty. Get a one-time Bump-Up option as published at the time of your choosing. Learn more by speaking to a personal banker.
0.40%
Choose Your Own Term CD3
Choose your own maturity date to fit your specific investment needs from 1 month to 60 months. Earn an increased rate for each and every month invested. Learn more by speaking to a personal banker.
Call or visit branch
CD Ladder4
Earn an extra 0.10% (10 basis points) plus balance your exposure to changing interest rates. Open three or more CDs at the same time with different maturities and earn the preferred interest rate. Maturities of each of the three CDs in the Ladder must be separated by at least six months, $10,000 total minimum invested and each CD must be at least $2,500. Learn more by speaking to a personal banker.
Premium of 0.10% (10 basis points)
Flexible CD5
A CD you can make withdrawals from or unlimited additions to during its term. Speak to a personal banker for details.

Call or visit branch

Flex 9-month, 0.15%

   
Regular CD Rates+
Annual Percentage Yield
1 month 0.05%
3  months 0.10%
6 months 0.15%
9 months 0.20%
1 year 0.30%
18 months 0.35%
Bump-up 2 year 0.40%
2 years 0.65%
3 years 0.80%
4 years 0.95%
5 years 1.20%

+Early withdrawal (withdrawals before maturity) penalties may apply and may reduce earnings. All CDs other than those in a CD Ladder require $500 minimum balance to open account. There is no minimum balance required to obtain the Annual Percentage Yield shown.

1Special CDs are offered for a limited time.

2Account receives the one-time Bump Up option at the published Bump Up rate at the time the option is chosen by the customer. At maturity, will renew into a new 2-year CD earning interest at the posted regular 2-year CD rate effective at that time.

3At maturity, will renew for the next shorter regular CD term at the regular rate effective at that time.

4Maturities of the three CDs must be separated by at least 6 months. $10,000 total minimum invested, each CD at least $2,500. At maturity, each CD in the ladder will renew for its original term and the regular interest rate effective at the time. If any CD in the Ladder is a "Bump-Up" or "Choose Your Own Term" it will renew as in accordance with those Special CD rules.

5Minimum balance to open and to maintain account is $2,500. Any withdrawal before maturity that reduces the balance to below the minimum balance requirement will result in closing the account and is subject to early withdrawal penalties. Minimum withdrawal of $500 each; withdrawals must be at least 30 days apart; no withdrawals within first or last 30 days of CD term. Minimum additional deposits of $500 each; no limit on number of deposits during CD term; no deposits within first or last 30 days of CD term. Account not valid for IRAs or Health Savings Accounts (HSAs). Electronic transactions not available with this account. Normal FDIC and Simsbury Bank penalties for withdrawals or transactions other than as allowed. Please refer to the "Understanding Our Relationship" brochure for penalties and other information.

Loan Rates

We tailor our business loans to your needs and offer competitive interest rates and terms. Please contact one of our Commercial Relationship Managers to learn more about how we can structure and price a loan that will work for your business.

Fees & Charges

Fees below effective April 17, 2013.

General Service Fees

 
Fee
General
 

Check Printing

Varies

Check Collection

$20.00

Credit Card Cash Advance

$5.001

Electronic Stop Payment

$30.00
In-Branch Statement Report $5.00
International ATM Transaction2 $3.00
IRA Transfer (out) $25.00
Legal Processing $100.00
Lost/Stolen ATM/Debit Card $15.00
Notary (for customers only) Free
On-us Check Cashing (for non-Bank relationships)3 $5.00
Overdraft/Uncollected Fee4 $35.00
Research (per hour) $50.00
Research (per page) $2.00
Return Deposited Item $20.00
Savings Excess Transaction Fee5 $15.00
Savings Overdraft Transfer $10.00
Signature Guarantee (for customers only) Free
Statement Balancing (per hour) $25.00
Stop Payment $30.00
Temporary Checks (six) $5.00
Treasurer’s/Cashier’s Check (for customers only) $5.00
Foreign Exchange6
 
Foreign Check Collection $30.00
Foreign Currency Order $25.00
Foreign Currency Redeemed $25.00
Foreign Drafts (Purchase Foreign Checks) $35.00
 Wires
 
 Domestic – Outgoing  $25.00
 Domestic – Incoming     $15.00
 International – Outgoing  $40.00
 International – Incoming  $20.00
 Inactivity Fees
 
 Checking – per month after six months of no activity and balance is less than $200     $5.00
 Savings – per month after one year of no activity and balance is less than $200  $5.00
 Online Banking
 
 Personal Accounts  
 All access and functions of Online Banking, including unlimited  number of Bill Payment transactions  Free
 Business Accounts  
 Access to Online Banking and Bill Payment  Free
 Monthly ACH access fee (for up to 300 transactions)  $20.00
 ACH per item within file (no per-file fee)  $0.15
 Wire access per month7       $25.00
 Per outgoing domestic wire8  $12.00
Per incoming domestic wire   $12.00

Items in bold indicate a change in fee.

1Unless restricted by law. Pinnacle customers are not charged.

2ATM transactions at overseas U.S. Military bases are free.

3Fees are assessed to individuals without a deposit or loan relationship who cash Simsbury Bank non-payroll checks.

4Applies to overdrafts created by check, in-person withdrawal, and non-card-related electronic transfers.

5See separate disclosure for definition.

6Plus shipping & fees from corresponding bank.

7Subject to bank approval.

8International wires not available online.

Business Account Maintenance Fees

Free Business Checking
  • No monthly maintenance fee
  • No minimum balance required
  • $0.50 per transaction1 over the 500 free per month
Analysis Business Checking
  • Service charge of $13/month
  • $0.15 per debit transaction1
  • $0.12 per credit transaction1

Competitive earnings credit applied on monthly average collected investable balance, which can reduce or eliminate the monthly maintenance and transaction fees. The investable balance is the average daily collected balance reduced by 10%.

Business Statement Savings
  • $500 minimum balance to waive service charge
  • Service charge of $5/month if minimum balance not met
Business Money Market
  • $2,500 minimum balance to waive service charge
  • Service charge of $10/month if minimum balance not met

1“Transaction” for all business checking account types is defined as a deposit, deposited item, cash withdrawal, automatic transfer, ATM, ACH, Simsbury Bank Online transfer, debit card or Bill Pay transaction.

Safe Deposit Box Fees

Annual Rent
Fee
Box Size
With Account1
3 x 5  $60.00
 5 x 5  $85.00
 3 x 10  $95.00
 5 x 10  $125.00
 10 x 10  $200.00
Key Replacement
 
 Per Key $20.00
Drill Fee
 
 As determined by bonded security company  Minimum $200.00

Items in bold indicate a change in fee.

1Safe deposit boxes available only to customers with loan or deposit accounts.

All rates are subject to change.

You can also obtain current rate information at any time by calling our telephone banking center at: 860.408.4660.

To review our business account disclosures, click here.

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