A sure, safe way to earn a premium interest rate and maximize your earnings is with a Seaway Bank and Trust Company Certificate of Deposit (CD). The minimum opening balance is just $1,000 with terms as long as 5 years. You can let your earnings compound or receive quarterly interest checks, depending on your need. The longer the term, the higher the rate. Interest is compounded and credited quarterly. Rates may change at any time.
| Savings and Interest-Bearing Checking Accounts Rates and APYs are accurate as of July 19, 2010. | ||||
|
Account Type
|
Minimum
Deposit To Open Account |
Minimum
Balance to Obtain APY |
Interest
Rate |
Annual
Percentage Yield |
|
Regular Savings
|
$100
|
$0
|
0.25%
|
0.25%
|
|
NOW Checking
|
$100
|
$100
|
0.15%
|
0.15%
|
|
Money Market
|
$500
|
$1,000
|
0.15%
|
0.15%
|
|
Platinum Money Market
|
$25,000
|
$25,000 - $49,999.99
|
0.20%
|
0.20%
|
|
$50,000 - $74,999.99
|
0.20%
|
0.20%
|
||
|
$75,000 - $99,999.99
|
0.30%
|
0.30%
|
||
|
$100,000 or higher
|
0.50%
|
0.50%
|
||
|
Classic Club Plus
|
$100
|
$100
|
0.15%
|
0.15%
|
|
Non-Profit NOW
|
$100
|
$1,500
|
0.15%
|
0.15%
|
|
Commercial Money Market
|
$100
|
$1,500
|
0.20%
|
0.20%
|
|
Certificates of Deposit and Jumbo CDs Rates and APYs are accurate as of July 19, 2010. |
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|
Term of CD
|
Minimum
Deposit to Open Account |
Minimum
Balance to Obtain APY |
Interest
Rate |
Annual
Percentage Yield |
|
* 31 Days
|
$1,000
|
$1,000
|
0.25%
|
0.25%
|
|
92 Days
|
$1,000
|
$1,000
|
0.25%
|
0.25%
|
|
182 Days
|
$1,000
|
$1,000
|
0.25%
|
0.25%
|
|
1 Year
|
$1,000
|
$1,000
|
0.50%
|
0.50%
|
|
2 Years
|
$1,000
|
$1,000
|
1.00%
|
1.00%
|
|
3 Years
|
$1,000
|
$1,000
|
1.25%
|
1.26%
|
|
4 Years
|
$1,000
|
$1,000
|
1.50%
|
1.51%
|
|
5 Years
|
$1,000
|
$1,000
|
2.00%
|
2.02%
|
|
Jumbo CDs
|
||||
|
* 30 Days
|
$100,000
|
$100,000
|
0.25%
|
0.25%
|
|
60 Days
|
$100,000
|
$100,000
|
0.30%
|
0.30%
|
|
90 Days
|
$100,000
|
$100,000
|
0.50%
|
0.50%
|
|
120 Days
|
$100,000
|
$100,000
|
0.50%
|
0.50%
|
|
150 Days
|
$100,000
|
$100,000
|
0.60%
|
0.60%
|
|
180 Days
|
$100,000
|
$100,000
|
0.75%
|
0.9%
|
|
270 Days
|
$100,000
|
$100,000
|
0.90%
|
0.90%
|
|
1 Year
|
$100,000
|
$100,000
|
1.00%
|
1.00%
|
|
Super Saver CDs
|
(New Money Only)
|
Available only at the Bronzeville and Waukegan Facilities.
|
||
|
1 Year CD
|
$5,000
|
$5,000
|
1.00%
|
1.00%
|
|
2 Year CD
|
$5,000
|
$5,000
|
1.50%
|
1.51%
|
|
The APY assumes interest will remain on deposit until maturity. Fees may reduce earnings. If you close your account before interest is credited, you will not receive the accrued interest. A penalty will be imposed if you withdraw any of the principal before the maturity date. Certificates of Deposit are compounded quarterly unless otherwise noted. * Cannot be compounded. Interest will be paid by check or credited to another account. For Jumbo CD terms over One Year, contact the Comptroller at (773)602-4112. IRAs are available for any of the above terms. Additional deposits may be made to any IRA. |
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