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Important news regarding People's United and Belmont Savings Bank Merger. Click here to learn more.

Deposit Rates for Current Online Accounts

At Belmont Savings Bank, we can help you put your money to work. Whether you need a checking account, savings account or CD, our experienced team can help you find the right banking solution. Plus, all funds are fully insured by FDIC and DIF, even deposits over $250,000.

Product Rates:

 

Impact Checking with Interest

Effective as of November 23, 2018

   Interest Rate APY
 Balances up to $10,000.00  0.50% 0.50% 
 Balances of $10,000.01 up to $1,000,000.00  0.00 0.50% - 0.01% 

Impact Checking with Interest Disclosures:

  • Annual Percentage Yield (APY) is based on interest compounding continuously.
  • Rate is variable and is subject to change without notice.
  • There is a minimum deposit of $10.00 to open the account and a maximum balance of $1,000,000.00. 
  • To avoid a $20.00 monthly service charge, you must have an active account including $500 minimum direct deposit within each statement cycle or five debit card POS (pinned or signature) transactions that post and settle during each statement cycle or $10,000 average daily balance in the account.
  • For active accounts, up to $8 of ATM fees are reimbursed per statement cycle. Each statement cycle the Impact Checking account is inactive, all ATM surcharges for that statement cycle will apply.
  • Each statement cycle the Impact Checking account is inactive, the APY defaults to 0.10% for the next statement cycle.
  • If there is no activity in the account for 90 days, a $10 inactivity fee will apply.

 

Select Money Market Savings

Effective as of November 23, 2018

   Interest Rate APY
 Balances up to $250,000.00 2.18% 2.20%
 Balances of $250,000.01 up to $1,000,000.00 0.40% 0.85% - 2.20%

Select Money Market Savings Disclosures:

  •  Rate guaranteed through June 30, 2019, after which time it is variable and subject to change without notice.
  • $25,000.00 minimum deposit to open the account and obtain the stated annual percentage yield (APY).
  • Maximum balance of $1,000,000.00.
  • This is a tiered account. Tier 1: for balances from $0.00 to $250,000.00, the interest rate is 2.18% and the APY is 2.20%. Tier 2: for balances from $250,000.01 to $1,000,000.00, the interest rate is 0.40% and the APY ranges from 0.85% to 2.20%.  
  • Requires e-Statements.
  • New money only or this account can be opened with funds from a maturing Belmont Savings Bank CD at its maturity date. No transfers from internal accounts permitted.  
  • Only one account per taxpayer identification number.
  • Transaction limitations apply - withdrawals and transfers made from a money market account are limited to six(6) per account cycle. This includes withdrawals made by check or draft to third parties; debit or ATM card point-of-sale (POS) purchases; and pre-authorized withdrawals such as automatic transfers and transfers made by telephone, online banking, mobile banking, bill pay, or wire. Withdrawals and/or transfers exceeding the six per account cycle allowance will result in a $15 excessive withdrawal fee per excessive transaction. If transaction limitations are continuously exceeded, it may result in conversion to a checking account. Withdrawals and transfers made in person at a branch or at an ATM are not included in the limit of six per account cycle.
  • If the average daily balance in this account falls below $25,000, a $25 monthly service charge will apply.

 

Sapphire e-Savings

Effective as of November 23, 2018

  Interest Rate APY
Balances up to $250,000.00

1.64%

1.65%

Sapphire e-Savings Disclosures

  • Annual Percentage Yield (APY) is based on interest compounding continuously.
  • Rates are variable and are subject to change without notice. 
  • You must deposit $100.00 to open this account.
  • The maximum balance allowed on this account is $250,000.00.
  • New money only or this account can be opened with funds from a maturing Belmont Savings Bank CD at its maturity date. No transfers from internal accounts permitted.  

 

7-Month Holiday CD

Effective as of December 6, 2018

  Interest Rate APY
Balances up to $1,000,000.00 2.71% 2.75%

7-Month Holiday CD Disclosures:

  • Annual Percentage Yield (APY) is based on interest compounding monthly.
  • $500.00 minimum deposit required to open account.
  • To obtain the stated APY for this account, a minimum balance of $500.00 is required.
  • Maximum balance of $1,000,000.00.
  • This CD has a 7-month term.
  • APY assumes principal and interest remain on deposit for the term of the CD.
  • Penalty may be imposed for early withdrawals.
  • These and other conditions may reduce earnings on CD account – ask for details.
  • Limit one (1) CDs of this type per taxpayer identification number.
  • Personal and business deposits allowed.
  • Product offer may be withdrawn at anytime.
  • New money only or this account can be opened with funds from a maturing Belmont Savings Bank CD at its maturity date. No transfers from internal accounts permitted.  

 

CoolBlue 18-Month CD

This product is currently only available to open in a Belmont Savings Bank branch.

Effective as of December 6, 2018

  Interest Rate APY
Balances up to $250,000.00 2.96% 3.00%

CoolBlue 18-Month CD Disclosures:

  • Annual Percentage Yield (APY) is based on interest compounding monthly.
  • $500.00 minimum deposit required to open account.
  • To obtain the stated APY for this account, a minimum balance of $500.00 is required.
  • Maximum balance of $250,000.00.
  • This CD has an 18-month term.
  • APY assumes principal and interest remain on deposit for the term of the CD.
  • Penalty may be imposed for early withdrawals.
  • These and other conditions may reduce earnings on CD account – ask for details.
  • Limit two (2) CDs of this type per taxpayer identification number.
  • Personal deposits only.
  • Product offer may be withdrawn at anytime.
  • New money only or this account can be opened with funds from a maturing Belmont Savings Bank CD at its maturity date. No transfers from internal accounts permitted.  
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