Deposit Rates

Checking & Savings Accounts

Deposit Account Type

Required Minimum Balance to Open

Required Balances to Obtain the Interest Rate and APY

Interest Rate

APY*

Simple Business Checking Account

$500

N/A

N/A

N/A

Prime Business Checking Account

$10,000

N/A

N/A

N/A

NOW Business Checking Account

$500

$500

0.15%

0.15%

Easy Personal Checking Account

$250

N/A

N/A

N/A

Senior Personal Checking Account

$100

N/A

N/A

N/A

NOW Personal Checking Account

$500

$500

0.15%

0.15%

Business Savings Account

$500

$500

0.30%

0.30%

Regular Personal Savings Account

$100

$100

0.30%

0.30%

Money Market Deposit Account (MMDA)
(for both Personal and Business):

Required Minimum Balance to Open: $500

Tier

From

To

Interest Rate

APY*

MMDA Balance Tier 1

$500

$49,999.99

0.45%

0.45%

MMDA Balance Tier 2

$50,000.00

$99,999.99

0.50%

0.50%

MMDA Balance Tier 3

$100,000.00

$249,999.99

0.60%

0.60%

MMDA Balance Tier 4

$250,000.00 and above

0.60%

0.60%

NEW PRODUCT – PREMIUM MMDA:

$100,000.00 and above

0.60%

0.60%

Required Balances to Obtain the Interest Rate and APY*

* APY refers to Annual Percentage Yield. Rates may change after opening the account. Interest rates and annual percentage yields are current as of 01/23/2018. Fee could change earning on the account. Offer available for limited period only. Please contact our branch for further details.

For current rate information please call at 1-877-707-1995

 

Certificate of Deposit (CD):

Special Limited Time Promotional CD:
Term

Interest Rate

APY**

Required Minimum Balance to open

24 Months

2.00%

2.02%

$10,000

**Applicable to new money only. Not available for institutional deposits. APY refers to Annual Percentage Yield is only an approximate value. APY mentioned is for quarterly compounding and payment at maturity. Any fee may reduce the earning. SBIC uses the daily balance method to calculate the interest on your account & the interest is compounded quarterly. Penalty may be imposed for early withdrawal. Interest rates and annual percentage yields are current as of 01/23/2018. Bank reserves the right to change promotional rates without notice.

Regular CD:

Regular Deposits

Institutional Deposits

Term

Interest Rate

APY***

Interest Rate

APY***

8 days to less than 3 months

0.15%

0.15%

0.15%

0.15%

3 months to less than 6 months

0.30%

0.30%

0.30%

0.30%

6 months to less than 1 year

0.60%

0.60%

0.60%

0.60%

1 year to less than 2 years

1.50%

1.51%

1.50%

1.51%

2 years to less than 3 years

1.75%

1.76%

1.75%

1.76%

3 years to less than 4 years

1.85%

1.86%

1.85%

1.86%

4 years to less than 5 years

2.00%

2.02%

2.00%

2.02%

5 Years +

2.10%

2.12%

2.10%

2.12%

***APY refers to Annual Percentage Yield is only an approximate value. APY mentioned is for quarterly compounding and payment at maturity. Any fee may reduce the earning. SBIC uses the daily balance method to calculate the interest on your account& the interest is compounded quarterly. Penalty may be imposed for early withdrawal. Interest rates and annual percentage yields are current as of 01/23/2018. Bank reserves the right to change promotional rates without notice. 

Required Minimum Balance to open a CD: $1,000.00

For current rate information please call at 1-877-707-1995.

 

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