Rates for Bank of Deerfield Deposit Accounts
Rates as of November 12, 2024
Certificate of Deposits, IRAs, and HSA**⁵
| Term | Minimum to Open Account | Minimum Balance to Obtain APY | Interest Rate | Annual Percentage Yield |
|---|---|---|---|---|
| 12 Month | $2,500 | $2,500 | 4.16% | 4.20% |
| 25 Month | $2,500 | $2,500 | 3.96% | 4.00% |
¹ Substantial Penalty for Early Withdrawal
² Advertised Interest Rate, APY and Term are subject to change without notice
Certificate of Deposits & IRAs ⁵
| Term | Minimum to Open Account | Minimum Balance to Obtain APY | Interest Rate | Annual Percentage Yield |
|---|---|---|---|---|
| 90 Day⁶ | $1,000 | $1,000 | 4.18% | 4.25% |
| 6 Month | $500 | $500 | 4.45% | 4.50% |
| 12 Month | $500 | $500 | 3.17% | 3.20% |
| 18 Month | $500 | $500 | 2.48% | 2.50% |
| 2 Year | $500 | $500 | 2.58% | 2.60% |
| 2 ½ Year | $500 | $500 | 2.58% | 2.60% |
| 3 Year | $500 | $500 | 1.99% | 2.00% |
| 4 Year | $500 | $500 | 1.99% | 2.00% |
| 5 Year | $500 | $500 | 2.48% | 2.50% |
⁵ Substantial Penalty for Early Withdrawal.
⁶ 90-day Certificate of Deposit is not available as an IRA.
** The advertised Interest rate, APY and Term are subject to change without notice
Checking Accounts¹
| Account | Minimum to Open Account | Balance Requirement for Interest | Minimum Balance to Obtain APY | Interest Rate | Annual Percentage Yield |
|---|---|---|---|---|---|
| Interest Checking | $25.00 | N/A | $0.01 | 0.10% | 0.10% |
| Easy Rewards Checking² | $100.00 | $0.01-$10,000.00 $10,000.01-over Requirements Not Met³ | $.01 - $0.01 | 1.98% 0.05% 0.05% | 2.00% 2.00-.07% 0.05% |
¹This is a variable rate product. The interest rate and corresponding Annual Percentage Yield (APY) may vary after account is opened.
²The interest rate and APY may vary depending on the balance in the account. The Easy Rewards checking product pays the stated interest rate only on that portion of the balance within the specified tier, provided the required criteria to earn the higher rate has been met. The flowing criteria requirements must be fulfilled each statement cycle in order to earn the higher interest rate and corresponding APY for balances of $10,000 or less: the account mush have an e-statment; posting and settlement of 16 debit card transactions using a Bank of Deerfield Debit Card; and have at least 1 direct deposit.
³If any one of the above reference criteria is not met in each monthly statement cycle the disclosed interest rate and APY will be paid on the entire balance.
Savings Accounts
| Account | Minimum to Open Account | Balance Requirement for Interest | Minimum Balance to Obtain APY | Interest Rate | Annual Percentage Yield |
|---|---|---|---|---|---|
| Personal Statement Savings¹ | $25.00 | $.01 | $0.01 | 0.15% | 0.15% |
| Christmas Club⁷ | $25.00 | $.01 | $0.01 | 0.50% | 0.50% |
| IRA Statement Savings¹ | $250.00 | $.01 | $.01 | 0.10% | 0.10% |
| Health Savings Account¹’⁴ | $25.00 | $.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.
⁴Tiered Rate Accounts: We pay interest on the full balance of your account at the interest rate shown above for the deposit tier which lists your account balance.
⁷The funds from the account including interest will be mailed in a check to the account holder on October 15th of each year. If October 15th falls on a non-business day, the check will be mailed on the next business day.
Money Market Accounts¹,⁴
| Account | Minimum to Open Account | Balance Requirement for Interest | Minimum Balance to Obtain APY | Interest Rate | Annual Percentage Yield |
|---|---|---|---|---|---|
| Advantage Money Market | $2,500.00 | $0.01-$9,999.99 $10,000.00-$49,999.99 $50,000.00-$99,999.99 $100,000.00 - $249,999.99 $250,000 and over | N/A | 0.50% 0.90% 1.49% 2.18% 2.47% | 0.50% 0.90% 1.50% 2.20% 2.50% |
¹This is a variable rate product. The interest rate and corresponding Annual Percentage Yield (APY) may vary after account is opened.
⁴Tiered Rate Accounts: We 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 will reduce earnings. Fees could also reduce 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 call (608) 764-5411.
NOTE: Rates are subject at bank's discretion