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Personal Banking Deposit Rates

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 Savings

Effective as of August 17, 2018

  Interest Rate Average Percentage Yield (APY)
Balances up to $250,000.00 1.64% 1.65%
Balances of $250,000.01 to $500,000.00 2.23% 1.65% to 1.95%
Balances of $500,000.01 to $1,000,000.00 0.50% 1.23% to 1.95%

Impact Savings Disclosure

  • To earn the annual percentage yield (APY) on your account, you must have an active Impact Checking account with an average daily balance of at least $10,000  or a minimum of $500 direct deposit(s) or five debit card POS (pinned or signature) transactions that post and settle in each statement cycle. Each statement cycle the Impact Checking account does not meet these activity requirements, the APY for Impact Checking defaults to 0.10% and Impact Savings defaults to a variable rate which is subject to change the next statement period. The current Impact Savings account default rate is 0.01%.
  • This is a tiered account: Tier 1 – For balances from $0.00 to $250,000.00, the interest rate paid on the entire balance in your account is 1.64% with an annual percentage yield of 1.65%..  Tier 2 – For balances from $250,000.01 to $500,000.00, the interest rate is 2.23%. The interest rates earned in Tier 1 and Tier 2 result in a blended annual percentage yield range of 1.65% to 1.95% depending on the total balance in the account.  Tier 3 - For balances from $500,000.01 to $1,00,000.00, the interest rate is 0.50%.  The interest rates earned in Tier 1, Tier 2 and Tier 3 results in a blended annual percentage yield range of 1.23% to 1.95% depending on the total balance in the account.  
  • Rate is variable and is subject to change without notice.
  • Minimum deposit is $10.00 to open account.
  • Maximum balance is $1,000,000.00.
  • If there is no activity in the account for 90 days, a $10 inactivity fee will apply.
  • New money only or this account can be opened with funds from a maturing Belmont Savings Bank CD at its maturity date or CoolBlue Savings, powerBlue Savings or Top Tier Savings customers may be transferred to Impact Savings with an additional deposit of $10,000 new to Bank money only. No other internal transfers from other account permitted. 
  • Limit one Impact Savings account per taxpayer identification number. 
  • Offer cannot be combined with any other offers.
  • Consumer accounts only. 
  • Terms and conditions are subject to change.

Impact Checking with Interest

Effective as of August 17, 2018

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

Impact Checking with Interest Disclsoures:

  • 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.
  • Maximum balance $1,000,000.
  • 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.

 

Simply Savings

Effective as of August 17, 2018

  Interest Rate APY
Balances up to $1,000,000.00 1.00% 1.00%

Simply Savings Disclosures

  • Annual Percentage Yield (APY) is based on interest compounding continuously.
  • The rate is subject to change at any time.
  • There is no minimum balance required to obtain the annual percentage yield.
  • The maximum balance allowed on this account is $1,000,000.00.
  • Massachusetts residents only

 

Select Money Market Savings

Effective as of August 9, 2018

  Interest Rate APY
Balances up to $250,000.00 1.93% 1.95%
Balances $250,000.01 - $1,000,000.00 0.40% 0.79% - 1.95%

Select Money Market Savings Disclosures

  • This account is available online only.
  • Rate is guaranteed through June 30, 2019, after which time it is variable and subject to change without notice.
  • There is a minimum deposit of $25,000.00 to open this account.
  • The maximum balance allowed on this account is $1,000,000.00.
  • If the average daily balance in this account falls below $25,000, a $25 monthly service charge will apply. 
  • eStatements are required for this account.
  • New-to-Bank money only or this account can be opened with funds from a maturing Belmont Savings Bank CD at its maturity date. No transfers from other 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 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 transfers made in person at a branch or at an ATM are not included in the limit of six per account cycle. 
  • Withdrawals and/or transfers exceeding the six per account cycle allowance will result in a $15 excessive withdrawal fee per transaction. If limitations are continuously exceeded, it may result in conversion to a checking account.

 

Certificate of Deposit & Retirement Account Rates

Effective as of August 17, 2018

Term Interest Rate APY
91 Day CD 0.10% 0.10%
6 Month CD 0.15% 0.15%
7-Month CD Special2,3 2.47% 2.50%
1 Year CD 0.50% 0.50%
PlatinumBlue 1-year CD2,4 1.73% 1.75%
1 1/2 Year CD 0.30% 0.30%
2 Year CD 0.75% 0.75%

2-Year Rising Rate CD:2,3,4

Months 1-6

Months 7-12

Months 13-18

Months 19-24

 

2.50%

2.75%

3.00%

3.25%

2.91% for 24-month term
3 Year CD 0.90% 0.90%
4 Year CD 1.00% 1.00%
5 Year CD 1.14% 1.15%

5-Year Accelerate Rising Rate CD:1,2,3

Years 1 and 2

Years 3 and 4

Year 5

 

2.00%

3.00%

5.00%

3.04% for 60-month term

 

                                                                 

7-Month CD Special       1-Year PlatinumBlue CD       2-Year Rising Rate CD 

5-Year Accelerate CD       Retirement Account Plan

  

  
Certificate of Deposit & Retirement Account Disclosures

  • Annual Percentage Yield (APY) is based on interest compounding monthly.
  • Rates are subject to change without notice. Offer may be withdrawn at any time.
  • Fees may reduce earnings.
  • For retirement account: $35.00 minimum balance to open, $10.00 minimum balance to obtain the stated APY.
  • APY assumes principal and interest remain on deposit for the term of the CD. Withdrawal of interest during the term will result in earnings below the published APY.
  • Penalty may be imposed for early withdrawal.
  • A $20.00 annual fee is assessed on retirement plans.
  • Limit 2 CDs per taxpayer identification number per CD type, except 7-Month CD Special and 2-Year Rising Rate CD which is a limit of 1 CD per taxpayer identification number per CD type.
  • PERSONAL FUNDS ONLY. Product offer may be withdrawn at anytime.
  • 15-Year Accelerate CD requires a minimum deposit of $5,000.00 to open and obtain the stated APY.  All other CDs require a $500.00 minimum deposit to open and obtain the stated APY.
  • 2Maximum balance for 7-Month CD is $1,000,000.00, for PlatinumBlue 1-Year CD is $2,000,000.00, for 2-Year Rising Rate CD is $250,000.00, and for 5-Year Accelerate CD is $250,000.00 
  • 3For 7-Month CD Special, 2-Year Rising Rate CD, and 5-Year Accelerate CD, new-to-Bank money only or this account can be opened with funds from a maturing Belmont Savings Bank CD at its maturity date. No transfers from other internal accounts permitted.  
  • 4To open a 5-Year Accelerate CD, PlatinumBlue 1-Year CD, or 2-Year Rising Rate CD, you must open or currently have an Impact Checking account, a PlatinumBlue Checking account, or an existing CoolBlue Checking account. (CoolBlue Checking is no longer offered as a new account.)

View Other Savings and Money Market Account Rates »

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