We’ve Raised Our Rates
Earn competitive rates at Spring Bank
We are excited to announce we have raised our rates on our Money Market, Savings & IRA Savings accounts and Certificates of Deposits (CDs), including our 5-Year CD. We invite you to take advantage of these competitive rates, earn more money as you save and create community impact with us as you bank local! Sign-up here and one of our Customer Service Representatives will be in touch with you to answer your questions and help you open your account.
It’s not often we talk about our great interest rates at Spring Bank. Why? Mostly because our focus is the financial inclusion of our city. As a small business, we have the ability to adapt, reshape and create, affordable financial products based on the needs of our neighbors. Our mission is the reason we exist. And—our mission requires money. As a double-bottom line company, mission and profit are equals and they serve one another. Our profits make our mission possible and our mission is often what inspires our loyal customers to choose us as their local bank.
5-Year CD**
Earn a 3.00% APY*
Money Market Checking
1.60% APY* on money market balances between $100,000 and $499,999.99
1.25% APY* on money market balances between $25,000 and $99,999.99
.75% APY* on money market balances between $500 and $24,999.99
.50% APY* on money market balances of $500,000 and above
(Please note, the minimum to open is $500 and no interest is paid on balances below the minimum to open.)
Savings & IRA Savings
1.75% APY* on savings balances between $25 and $499,999.99
.85% APY* on savings balances of $500,000 and above
(Please note, the minimum to open is $25 and no interest is paid on balances below the minimum to open.)
* APY (Annual Percentage Yield) The quoted APY is based on interest compounded daily.
Rates subject to change at Spring Bank’s discretion.
** The minimum deposit to open a CD is $250. Penalties apply for early withdrawal.
NYC metropolitan area customers only in NY, NJ and CT. Maximum deposit $200,000.
Please refer to our full list of rates for more information.
