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In addition to our Free Business Checking account, we offer a full range of other checking and savings accounts tailored to businesses. Please click on €śDeposit Rates€ť for interest rate information about those accounts. Please click on €śLoan Rates€ť for more information about our business loan pricing. For information about the prices associated with the range of other banking services your business may need, please click on €śFees & Charges.€ť
Deposit RatesRates effective August 16, 2010; 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 | 0.10% | | Business Analysis Earnings Credit* | 0.35% |
| * The Earnings Credit is not subject to APY disclosure requirements. The Earnings Credit applies only to the Business Analysis Checking Account. | | Business Savings | Annual Percentage Yield | | Statement | 0.20% | | Passbook | 0.20% | | Pinnacle | 0.20% |
| | Business Tiered Money Market | Annual Percentage Yield | | $0 - $2,499.99 | 0.20% | | $2,500- $9,999.99 | 0.25% | | $10,000- $24,999.99 | 0.30% | | $25,000- $49,999.99 | 0.35% | | $50,000- $99,999.99 | 0.40% | | $100,000 and greater | 0.50% |
| | Special CDs and Options | Annual Percentage Yield | 2 year Bump-Up CD+
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. | 0.90% | Choose Your Own Term CD++
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 Ladder+++
Earn an extra 1/4 percent (25 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 nine 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 1/4% (25 basis points) | Flexible CD***
Speak to a personal banker for details. Minimum 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. | Flex 9-month: 0.40%
Call or visit branch |
| | Regular CD Rates | Annual Percentage Yield | | 1 month | 0.20% | | 3 months | 0.30% | | 6 months | 0.50% | | 9 months | 0.60% | | 1 year | 0.80% | | 18 months | 0.90% | | Bump-up 2 year | 0.90% | | 2 years | 1.20% | | 3 years | 1.80% | | 4 years | 2.15% | | 5 years | 2.40% |
| *Early withdrawal (withdrawals before maturity) penalties may apply. 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.
***APY (Annual Percentage Yield) is available for customers who have or who open an additional Simsbury Bank & Trust Company deposit or loan account. $500 minimum to open the CD account. $250,000 maximum. Limited time offer. Rates and terms subject to change.
+Account 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.
++At maturity, will renew for the next shorter regular CD term at the regular rate effective at that time.
+++Maturities 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. |
All rates are subject to change.
You can also obtain current rate information at any time by calling The Simsbury Bank Telephone Banking Center at: 860-408-4660.
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Equal Housing Lender
