| Account Type | Minimum Deposit to Open | Interest Rate | APY | Minimum Balance
to Earn APY |
|---|
Savings Account Rates effective as of September 5, 2023
|
Passbook
|
$1.00
|
0.05% |
0.05% |
$10.00
|
|
Statement Savings
|
$1.00
|
0.05%
|
0.05%
|
$10.00
|
|
Step Saver1,2
|
$5,000.00
|
|
|
Balance Level to Earn APY
|
|
|
|
0.50%
|
0.50%
|
$0.00 to $4,999.99
|
| |
|
0.75%
|
0.75%
|
$5,000.00 to $24,999.99
|
| |
|
1.00%
|
1.00%
|
$25,000.00 to $49,999.99
|
| |
|
2.00%
|
2.01%
|
$50,000.00 and above
|
1 Account is limited to one withdrawal per month.
2 Monthly Service Charges: $ 25.00 if daily balance falls below $5,000.00. $5.00 per withdrawal if one withdrawal per month limit is exceeded. Fees may reduce earnings.
The interest rate and Annual Percentage Yield (APY) may vary after account opening.
Certificate of Deposit Rates effective as of September 5, 2023
| Certificate Term | Minimum Deposit | Rate | APY | Minimum Balance to Earn APY |
|---|
|
91 days*
|
$1,000.00
|
0.22%
|
0.22%
|
$1,000.00
|
|
182 days*
|
$1,000.00
|
0.25%
|
0.25%
|
$1,000.00
|
|
9 months*
|
$500.00
|
0.33%
|
0.33%
|
$500.00
|
|
12 months*
|
$500.00
|
0.33%
|
0.33%
|
$500.00
|
|
15 months*
|
$500.00
|
0.33%
|
0.33%
|
$500.00
|
|
18 months**
|
$500.00
|
0.36%
|
0.36%
|
$500.00
|
|
24 months**
|
$500.00
|
0.36%
|
0.36%
|
$500.00
|
|
30 months**
|
$500.00
|
0.36%
|
0.36%
|
$500.00
|
|
36 months**
|
$500.00
|
0.39%
|
0.39%
|
$500.00
|
|
60 months**
|
$500.00
|
0.42%
|
0.42%
|
$500.00
|
|
60 months Traditional IRA**
|
$500.00
|
0.42%
|
0.42%
|
$500.00
|
|
Effective June 18, 2024
7 months*1
|
$1,000.00 |
4.69% |
4.80% |
$1,000.00 |
*Subject to premature withdrawal penalty of 3 months loss of interest
**Subject to premature withdrawal penalty of 6 months loss of interest
1This is a single maturity account. At Maturity the account will convert to a statement savings at the rate in effect on statement savings at that time.
Checking and Money Market Rates effective as of September 5, 2023
| Account Type | Minimum Deposit | Interest Rate | APY | Minimum Balance
to Earn APY |
|---|
|
NOW Checking1
|
$50.00
|
0.05%
|
0.05%
|
$100.00
|
|
Small Business Checking1
|
$50.00
|
0.05%
|
0.05%
|
$100.00
|
|
Money Market Deposit Account2,3,4
|
$2,500.00
|
0.05%
|
0.05%
|
$2,500.00
|
1 $5.00 monthly service fee applies if daily balance falls below $500.00
2 Balances below $2,500.00 earn interest at the NOW Account rate. Balances below $100.00 do not earn interest.
3 Monthly Service Charges: $4.00 if daily balance falls below $2,500.00.
4 Effective June 1, 2020 Money Market Deposit Accounts will no longer be offered. The posted rate applies to existing MMDA Accounts.
The interest rate and Annual Percentage Yield (APY) may vary after account opening.
1st Bank of Sea Isle City's primary operating region is Cape May County, NJ. We reserve the right to refuse account applications from outside of the Cape May County, NJ area.
All applicants must physically come into one of our branch locations to open any account. Proper identification must be supplied at account opening.
Rates are subject to change without notice. Contact us for additional terms and disclosures.
|
FDIC Insured - Backed by the full faith and credit of the U.S. Government.