Rates for Bank of Deerfield Deposit Accounts
Rates as of November 1, 2020.
Certificate of Deposit Specials¹
| Term Length | Minimum to Open Account | Minimum Balance to Obtain APY | Interest Rate | Annual Percentage Yield |
|---|---|---|---|---|
| 15 Month | $2,500 | $2,500 | 0.80% | 0.80% |
| 39 Month | $2,500 | $2,500 | 1.05% | 1.05% |
| 54 Month | $2,500 | $2,500 | 1.15% | 1.15% |
¹ Substantial Penalty for Early Withdrawal
Business Certificate of Deposit Special
| Term Length | Minimum Deposit | Interest Rate |
|---|---|---|
| 15 Months | $2,500 | 1.25% |
| 39 Months | $2,500 | 1.345% |
| 54 Months | $2,500 | 1.445% |
¹ Substantial Penalty for Early Withdrawal
Certificate of Deposits & IRAs ¹
| Term | Minimum to Open Account | Minimum Balance to Obtain APY | Interest Rate | Annual Percentage Yield |
|---|---|---|---|---|
| 90 Day ² | $1,000 | $1,000 | 0.15% | 0.15% |
| 6 Month | $500 | $500 | 0.20% | 0.20% |
| 12 Month | $500 | $500 | 0.30% | 0.30% |
| 18 Month | $500 | $500 | 0.40% | 0.40% |
| 2 Year | $500 | $500 | 0.55% | 0.55% |
| 2 ½ Year | $500 | $500 | 0.60% | 0.60% |
| 3 Year | $500 | $500 | 0.65% | 0.65% |
| Flex 3 Year³ | $500 | $500 | 0.65% | 0.65% |
| 4 Year | $500 | >$500 | 0.75% | 0.75% |
| 5 Year | $500 | $500 | 0.90% | 0.90% |
¹ Substantial Penalty for Early Withdrawal
² 90-day Certificate of Deposit is not available as an IRA
³ Opportunity to increase your rate once during the three-year term
Checking Accounts¹
| Account | Minimum to Open Account | Balance Requirement for Interest | Minimum Balance to Obtain APY | Interest Rate | Annual Percentage Yield |
|---|---|---|---|---|---|
| Interest Checking | N/A | N/A | $0.01 | 0.05% | 0.05% |
| Easy Rewards Checking² | $100.00 | $0.01-$10,000.00 $10,000.01-over Requirements Not Met³ | $0.01 - $0.01 | 1.00% 0.10% 0.10% | 1.01% 0.10% 0.10% |
¹This is a variable rate product. The interest rate and corresponding Annual Percentage Yield (APY) may vary after account is opened.
²APY may vary depending on the balance in the account. Criteria requirements must be fulfilled each statement cycle in order to earn the higher interest rate and corresponding APY for balances of $10,000.00 or less; maintain an average daily balance of $1,000.00, account must have e-statement, 16 debits that post and settle using Bank of Deerfield debit card, and 1 direct deposit that posts and settles in a statement cycle. Average daily balance is calculated by adding the principal in the account for each day of the statement cycle and dividing that figure by the number of days in the period.
³Any one of the Easy Rewards criteria not met in each monthly statement cycle, the disclosed interest rate and APY will be paid on that entire balance
Savings Accounts¹
| Account | Minimum to Open Account | Balance Requirement for Interest | Minimum Balance to Obtain APY | Interest Rate | Annual Percentage Yield |
|---|---|---|---|---|---|
| Statement Savings | N/A | $.01 | $0.01 | 0.05% | 0.05% |
| Christmas Club²'³ | $5.00 | $.01 | $0.01 | 0.05% | 0.05% |
| IRA Statement Savings | $250.00 | $.01 | $250.00 | 0.10% | 0.10% |
| Health Savings Account⁴ | $0 | $.01-$4,999.99 $5,000.00-Over | N/A $5,000.00 | 0.10% 0.20 | 0.10% 0.20% |
¹This is a variable rate product. The interest rate and corresponding Annual Percentage Yield (APY) may vary after account is opened.
²Funds from the account including interest will be mailed in a check to account holder on October 15th of each year. If October 15, falls on a non-business day, the check will be mailed on next business day.
³Any withdrawal from account must be entire balance, no deposits allowed until October 15th of current year.
⁴Tiered Rate Accounts pay interest on the full balance of your account at the interest rate shown above for the deposit tier which lists your account balance.
Money Market Accounts¹,²
| Account | Minimum to Open Account | Balance Requirement for Interest | Minimum Balance to Obtain APY | Interest Rate | Annual Percentage Yield |
|---|---|---|---|---|---|
| Insured Money Market | $2,500.00 | $0.01-$4,999.99 $5,000.00-$24,999.99 | $0.01 | 0.05% 0.10% | 0.05% 0.10% |
| Advantage Money Market | $10,000.00 | $0.01-$9,999.99 $10,000-over | $0.01 | 0.05% 0.15% | 0.05% 0.15% |
¹This is a variable rate product. The interest rate and corresponding Annual Percentage Yield (APY) may vary after account is opened.
² Tiered Rate Accounts pay interest on the full balance of your account at the interest rate shown above for the deposit tier which lists your account balance
Additional Product information
The Annual Percentage Yield (APY) shown above assumes that all principal and interest remains on deposit for the entire term. A withdrawal and fees can reduce the earnings on the account.
Additional account disclosure information is provided in the “Terms and Conditions” handouts.
For current interest rates and Annual Percentage Yield, please contact Bank of Deerfield at 608-764-5411.
NOTE: Rates are subject to change weekly.