Schedule of Interest Rates for Business Deposit Services

Effective November 20, 2024 - November 26, 2024

 

  • Minimum Deposit to Open Account: $0
  • Minimum Daily Balance to Obtain Annual Percentage Yield*: N/A
Minimum Daily Balance* Annual Percentage Yield** Interest Rate** Earnings Credits
N/A N/A N/A 0.03

 

  • Minimum Deposit to Open Account: $0
  • Minimum Daily Balance to Obtain Annual Percentage Yield*: $1,500
  • Interest Compounded: Monthly
  • Interest Credited: Monthly
Minimum Daily Balance* Annual Percentage Yield** Interest Rate** Earnings Credits
$1,500.00-$24,999.99 0.01 0.01 N/A
$25,000.00 - $99,999.99 0.02 0.02 N/A
$100,000.00 and over 0.03 0.03 N/A

 

  • Minimum Deposit to Open Account: $2,500
  • Minimum Daily Balance to Obtain Annual Percentage Yield*: $2,500
  • Interest Compounded: Monthly
  • Interest Credited: Monthly
Minimum Daily Balance* Annual Percentage Yield** Interest Rate** Earnings Credits
$2,500.00-$24,999.99 0.02 0.02 N/A
$25,000.00-$99,999.99 0.04 0.04 N/A
$100,000.00-$499,999.99 0.06 0.06 N/A
$500,000.00 and over 0.08 0.08 N/A

 

 

*You must maintain the minimum balance in the account each day to obtain the disclosed annual percentage yield. Fees may reduce earnings.
**For current interest rates call our Customer Care Center at 203.431.7431 during regular business hours.

The following information applies to the deposit accounts listed above:

Earnings Credit Information:
The Earnings Credit is a variable rate. The Earnings Credit rate shown is for the previous month’s statement cycle. The Earnings Credit may change. At our discretion we may change the Earnings Credit on your account at any time. We use the average collected balance, less 10.00% for Reserve Requirements, to calculate the Earnings Credit on the commercial checking account for the statement period. The Earnings Credit will be used to reduce the fees charged to your account for the month in which the Earnings Credit was earned. Any excess Earnings Credit that is not used to reduce fees in the month it is earned will not be carried over to subsequent months.

Interest Rate and Balance Information for all Accounts listed above (other than Commercial Checking).
Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account at any time. For current interest rates call our Customer Care Center at 203.431.7431 during regular business hours. Interest begins to accrue on the first business day after the day you deposit non-cash items (for example checks). We use the daily balance method to calculate interest on your account. This method applies a daily periodic interest rate to the principal in your account each day. Transaction Limitations (see the Business Depositors Contract for a further explanation of these limitations):

Tiered Interest Rate for Business Money Market Accounts
These accounts have tiered interest rates. This means that the interest and resulting annual percentage yield you will earn depend on the daily balance in your account.  The tiers that apply are shown above. You will earn the interest rate and annual percentage yield applicable to your balance on the entire balance in your account.