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Rates
 
Interest Rates & Annual Percentage Yields through:   Wednesday, December 24, 2014


Certificate of Deposits
Products Minimum Opening Deposit Interest Rate APY
91 Day Certificate $500.00 .15% .15%
182 Day Certificate $500.00 .30% .30%
12 Month Certificate $500.00 .40% .40%
18 Month Certificate $500.00 .60% .60%
24 Month Certificate $500.00 .70% .70%
36 Month Certificate $500.00 .90% .90%
48 Month Certificate $500.00 1.00% 1.00%
 
A penalty may be imposed for early withdrawal. Funds must remain on deposit until maturity or for 1 year to earn APY
 


Savings Accounts
Products Minimum Opening Deposit Interest Rate APY
Statement Savings $100.00 0.15% 0.15%
Christmas Club 0.30% 0.30%
Kid's Club 0.15% 0.15%
Student Savings 0.15% 0.15%
NOW Account $1,000.00 0.10% 0.10%
Health Savings Account 0.10% 0.10%
 
The interest rate and annual percentage yield may change after account opening. Fees can reduce earnings.
 


Money Market Accounts
Products Minimum Opening Deposit Interest Rate APY
 
Money Market Investor
$ 2,500.00 - $ 9,999.99 $2,500.00 .15% .15%
$10,000.00 - $24,999.99 $2,500.00 .15% .15%
$25,000.00 - $49,999.99 $2,500.00 .15% .15%
$50,000.00 or more $2,500.00 .15% .15%
 
The interest rate and annual percentage yield may change after account opening. Fees can reduce earnings.
 


IRA Accounts
Products Minimum Opening Deposit Interest Rate APY
18 Month Variable Rate IRA* $100.00 .65% .65%
24 Month Fixed Rate IRA $100.00 .70% .70%
36 Month Fixed Rate IRA $100.00 .90% .90%
48 Month Fixed Rate IRA $100.00 1.00% 1.00%
 
A penalty may be imposed for early withdrawal. The interest rate and annual percentage yield may change after account opening. Funds must remain on deposit until maturity or for 1 year to earn APY

* Interest compounded daily and paid quarterly.

** Deposit information presented on the website of Bank of Salem is in accordance with the Federal Reserves Truth in Savings Act(12CFR230). Interest rates displayed for deposit products are based on Annual Percentage Yield(APY) and may fluctuate at any time.
 



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