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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 September 15, 2014; rates subject to change at any time without notice at our discretion.

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.

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.
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.
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.
Premium of 0.10% (10 basis points)
Year-Round IRA CD CD5
A CD that is open for contributions and rollovers for the entire 15-month term. Speak to a personal banker for details. CD pays same rate on all of the contributions you make or rollovers you add to this account during its entire term.
0.40%
Flexible CD6
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%
2 years 0.65%
3 years 0.80%
4 years 0.95%
5 years 1.20%
Bump-up 2 year 0.40%

+Rates are fixed. 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.

5$500 minimum to open account; $100,000 total deposit maximum in this CD. One account per customer. Upon maturity, account will roll into the 12-month term and rate. Early withdrawal penalties may apply. Rate subject to change based on market conditions.

6Minimum 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.

Retirement Certificate of Deposit+

Year Round IRA CD1
Annual Percentage Yield
A CD that is open for contributions and rollovers for the entire 15-month term. Pays the same rate on all of the contributions you make or rollovers you add to this account during its entire 15-month term. 0.40%

+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.

1$500 minimum to open account; $100,000 total deposit maximum in this CD. One account per customer. Upon maturity, account will roll into the 12-month term and rate. Early withdrawal penalties may apply. Rate subject to change based on market conditions.

Checking and Savings Rates+

Personal Checking
Annual Percentage YieldV
Pinnacle Advantage 0.05%
Pinnacle+ Advantage 0.05%
Earning Advantage 0.05%
Personal Savings
Annual Percentage Yield
Statement 0.10%
Passbook 0.10%
Tiered Money Market Savings
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 0.12%
Club Accounts
Annual Percentage Yield
Holiday Clubs 0.10%
All-Purpose Clubs 0.10%
Residential Real Estate Tax Savings Accounts1
Annual Percentage Yield
Interest rate to be set quarterly 0.25%

+Interest paid on all balances of interest bearing accounts. Some accounts have minimum balances to avoid monthly service fees.

V=Variable Rate

1Available to residents of participating towns.

Health Savings Account Plans (HSAs)+

Types
Annual Percentage Yield

Tiered HSA Checking

$2,500+
$0 - $2,500

Tiered APY

0.20%
0.10%

High Yield HSA CD1

For your choice of maturity.

The published rate plus 0.10%.

+Interest paid on all balances of interest bearing accounts. Some accounts have minimum balances to avoid monthly service fees.

1Early 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.

Loan Rates

Download the current loan rates (pdf).

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.

Personal Account Maintenance Fees

Pinnacle+ Advantage Checking1
  • $25 minimum balance to open
  • $25,000 combined daily average balances in checking, savings, money markets, CDs, retirement accounts, HSAs and outstanding consumer loans to waive $10/month service charge. This does not inlcude passbook savings accounts.
Pinnacle Advantage Checking1
  • $25 minimum balance to open
  • $15,000 combined daily average balances in checking, savings, money markets, CDs, retirement accounts, and HSAs to waive $10/month service charge. This does not inlcude passbook savings accounts.
Earning Advantage
  • $25 minimum balance to open
  • $750 minimum balance or a combined daily average balance of $3,500 in this and Savings or CD account to waive $8/month service charge. This does not inlcude passbook savings accounts.
Everyday Advantage
  • $25 minimum balance to open
  • $500 minimum balance or a combined daily average balance of $1,500 in this and Savings or CD account to waive $8/month service charge. This does not inlcude passbook savings accounts.
eAdvantage
  • $25 minimum balance to open
  • No monthly service charge or minimum daily average balance requirement

Other charges:

  • Official Checks – $5.00
  • Teller withdrawal or split transaction – $1.00
  • Branch generated statement – $4.00
  • Each check used – $0.50
65+ Advantage
  • $25 minimum balance to open
  • $500 minimum balance or a combined daily average balance of $2,500 in this and Savings or CD account to waive $3/month service charge. This does not inlcude passbook savings accounts.
Health Savings Account Checking (HSAs)

Tiered Rate Checking Account

  • $25 minimum balance to open
  • $2,500 minimum daily average balance to waive service charge
  • Service charge of $3 (waived for first two years)
  • $10 enrollment fee (waived if employer referral to SBT)

High Yield CD

  • $25 minimum balance to open
  • $500 minimum balance
  • No annual or monthly fee when linked with HSA Tiered Checking
  • $20/year if no HSA Tiered Checking (for those no longer eligible to make contributions)
Statement & Passbook Savings
  • $25 minimum balance to open
  • $200 minimum daily average balance to waive $2/month service charge
Money Market Savings
  • $25 minimum balance to open
  • $2,500 minimum daily average balance to waive $10/month service charge
Certificates of Deposit

$500 minimum balance2 to open

Retirement Accounts

$500 minimum balance2 to open

1Refer to Pinnacle Brochure for program details.

2Penalties for early withdrawal. See account disclosure for more details.

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 at any time without notice at our discretion.

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

To review our personal account disclosures, click here.

To view our fee reference guide, click here.

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