Machias Savings Bank

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Rates Disclosure

Rates and Annual Percentage Yields' are accurate as of

  • Opening Deposit = Deposit required to open account.
  • Balance Required = Deposit balance required to earn rate.
  • APY = Annual Percentage Yield.
  • FDIC Insures each depositor up to $250,000.
  • Checking account fees may apply and reduce earnings on the account.
  • Certificate of Deposit early withdrawal penalties may apply and reduce earnings on the account.
  • Interest rates are subject to change at the bank's discretion without notice to customer.

Savings Rates

Type *Opening
Deposit
Balance Required Interest
Rate
APY***
Ultimate Savings* $100.00 $0.01 - $25,000.00 0.15% 0.15%
    $25,001.00 & over 0.25% 0.25%
Statement Savings $100.00 $0.01- $25,000.00 0.05% 0.05%
    $25,000.01 & over 0.10%

0.10%

Exceptional Business Savings* $500.00 $0.01 - $25,000.00 0.15%

0.15%

    $25,000.01 & over 0.25% 0.25%
Kid's Club Statement Savings $1.00 $0.01 & over 0.10% 0.10%
Your Choice Savings** $100.00 $0.01 & over 0.10%

0.10%

*Available only to customers with a current or new checking account relationship
** Your Choice Savings - Accrued & compounded daily; credited and paid annually on a chosen payout date of either March 30, June 30, September 30, or December 30.
***The Annual Percentage Yield on all savings accounts is calculated using a 365 day calendar year.

CD Rates

Type * Opening
Deposit
Interest APY***
3 Month $500.00 0.25% 0.25%
6 Month $500.00 0.35% 0.35%
12 Month $500.00 0.45% 0.45%
18 Month $500.00 0.55% 0.55%
24 Month $500.00 0.75% 0.75%
36 Month $500.00 1.00% 1.01%
48 Month $500.00 1.14% 1.15%
60 Month $500.00 1.64% 1.65%
Starter CD  $250.00 0.45% 0.45%
Ultimate CD $500.00 1.00% 1.00%

*Deposit required to open account & keep account open.
***The Annual Percentage Yield on all certificate of deposit accounts is calculated using a 365 day calendar year.

IRA Rates

Type Opening
Deposit
Interest
Rate
APY*
Regular IRA Statement Savings $500.00 0.45% 0.45%
3 Month IRA $500.00 0.25% 0.26%
6 Month IRA $500.00 0.34% 0.35%
12 Month IRA $500.00 0.44% 0.45%
18 Month IRA $500.00 0.54% 0.55%
24 Month IRA $500.00 0.74% 0.75%
36 Month IRA $500.00 0.98% 1.00%
48 Month IRA $500.00 1.13% 1.15%
60 Month IRA $500.00 1.61% 1.65%
Health Savings Account (HSA) $500.00 0.45% 0.45%

*The Annual Percentage Yield on all term IRAs is calculated using a 360 day calendar year. The Annual Percentage Yield on the Regular IRA Statement Savings and the Health Savings Account is calculated using a 365 day calendar year. 

Business Checking/Money Fund Rates

Type Opening
Deposit
Balance Required Interest
Rate
APY***
Money Fund Personal  $100.00 $0.01-$2,500.00 0.05% 0.05%
    $2,500.01-$25,000.00 0.15% 0.15%
    $25,000.01-$100,000.00 0.25% 0.25%
    $100,000.01 & over 0.35% 0.35%
 Essential Business Fund  $500.00 $0.01-$2,500.00 0.05% 0.05%
    $2,500.01-$25,000.00 0.15%

0.15%

     $25,000.01-$100,000.00 0.25% 0.25%
    $100,000.01 & over 0.35% 0.35%
Essential Municipal Fund  $500.00 $0.01-$2,500.00 0.05% 0.05%
    $2,500.01-$25,000.00 0.15% 0.15%
    $25,000.01-$100,000.00 0.25%

0.25%

    $100,000.01 & over 0.35% 0.35%
Exceptional Checking $500.00 N/A  0.00%  0.00%
Experienced Checking with Interest  $500.00 $0.01 and over  0.05%  0.05%
Total Service $500.00 N/A none none
Total Service with Interest $500.00 $0.01 and over 0.05% 0.05%
IOLTA/RAHF Checking $500.00 $0.01 and over 1.00%  1.01% 


***The Annual Percentage Yield on all certificate of deposit accounts is calculated using a 365 day calendar year. 

Personal Checking

Type                                                                     Opening
Deposit    
Balance Required Interest
Rate
APY**
Ultimate Simple  $100.00 N/A none none
Ultimate Relationship                     $100.00 $0.01-$10,000.00 0.01% 0.01%
  $100.00 $10,001-$25,000.00 0.03% 0.03%
    $25,000.01 & over 0.05% 0.05%
Ultimate Green *** $100.00 $0.01-$10,000.00 0.50% 0.50%
    Daily balances exceeding $10,000.001 0.05% 0.05%
HSA Individual $1.00 $0.01 & over 0.15% 0.15%
HSA Family $1.00 $0.01 & over 0.15% 0.15%
         

*** Ultimate Green Details: The interest rate is variable and may change after the account is open. .50% APY paid on daily balances up to $10,000.00, and 0.05% APY paid on daily.
****Ultimate Relationship Details: Must have combined deposit accounts of $10,000.00 to be eligible.
1If the balance in your account exceeds $10,000.00, the entire account balance earns at the lower rate of 0.05% for each day the balance is in excess of $10,000.00.
  

Mortgage Loans

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OUR FOCUS

As a customer of Machias Savings Bank, the focus is on you. We will enhance your banking relationship by working with you to discover your banking needs. We will be there when you need us.

 

© Machias Savings Bank. All rights reserved.

Member FDIC. Equal Housing Lender logo Equal Housing Lender.
Routing Number: 211274531
NMLS Number: 469539

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