Deposit Rates

Checking & Savings - As of August 22nd, 2014 

Product Minimum
Required
Balance
Interest
Rate
*Annual Percentage
Yield (APY)
  Personal NOW $ 100 0.01% 0.01%
  Personal Money Market $ 100 0.20% 0.20%
  Personal Savings $ 100 0.02% 0.02%
  Business Money Market $ 100 0.01% 0.01%
  Business Savings $ 100 0.02% 0.02%

 

A minimum deposit of $100 is required to open an account.

The above interest rates and annual percentage yields may change after account opening. At our discretion, we may change the interest rate on these accounts daily.

*APY (Annual Percentage Yield) assumes interest is compounded monthly and remains on deposit for one year: fees or withdrawals may reduce earnings on these accounts.

Interest is compounded and credited monthly. If you close your account before interest is credited, you will not receive the accrued interest.

We use the daily balance method to calculate the interest on accounts. This method applies a daily periodic rate to the principal in the account each day.

For Personal NOW and Money Market Checking Accounts, interest begins to accrue for the deposit of non-cash items on the business day that credit is received.

For Personal NOW Accounts, the rate and annual percentage yield of the highest rate tier for which an account qualifies is applied to the entire account balance daily.

Money Market Checking Accounts are subject to check writing limitations set by the Federal Reserve Bank. No more than six (6) preauthorized, automatic, check, or telephone transfers may be made from this account to another account of yours or to a third party in any month. If you exceed these limitations, your Money Market account may be subject to a fine or be closed.

Savings and Business Savings Account interest begins to accrue for non-cash items on the business day the items are deposited.

For information on services and product features related to these accounts, such as ATM, Debit cards, On-Line banking and BillPay and misc. item charges, please refer to the Handbook for Baytree Accounts and Product Summary Schedule or ask a personal banker.

Ask for current product specials that may be available in addition to these standard Baytree offerings.

Certificates of Deposit - As of August 22nd, 2014

Product Minimum
Required
Balance
Interest
Rate
*Annual Percentage
Yield (APY)
  3 Months $ 1,000 0.01% 0.01%
  6 Months $ 1,000 0.01% 0.01%
  9 Months $ 1,000 0.02% 0.02%
  12 Months $ 1,000 0.30% 0.30%
  18 Months $ 1,000 0.45% 0.45%
  24 Months $ 1,000 0.60% 0.60%
  36 Months $ 1,000 0.70% 0.70%
  48 Months $ 1,000 0.85% 0.85%
  60 Months $ 1,000 0.90% 0.90%

 

All above are eligible for the following IRA types - Individual, SEP, Roth, Education, and Roth conversion.

*Annual Percentage Yield (APY) assumes interest remains on deposit: fees or withdrawals may reduce earnings.

We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

The above interest rates and annual percentage yields are subject to change without notice.

The minimum balance to open an account and obtain the APY is $1,000.

We may impose an early withdrawal penalty if you withdraw principal from the Certificate of Deposit (CD) prior to maturity date. The interest penalty is based upon the term of the CD. If the CD term is one year or less, the early withdrawal penalty will equal 3 months interest on the amount withdrawn. For a CD with a term greater than one year, the early withdrawal penalty will equal 6 months interest on the amount withdrawn.

After the account is opened, you may not make deposits into or withdrawals without penalty from the account until the maturity date.

Contact Baytree representative