INTEREST RATES

  • Current as of: December 1, 2017
  • These rates are subject to change at Andover Bank's discretion.
  • These rates are for balances up to $250,000.00. For larger amounts please contact us at 844.259.5473.

CD and IRA Specials

All CD and IRA specials require one of the following checking accounts: Max Checking, Max 50 Checking, or Bonus Checking

Term   $10,000 minimum, funds
not currently on deposit
| $1,000 minimum,
existing funds on deposit.
11 months CD*   1.24% Rate   1.25% APY | 0.90% Rate   0.90% APY
23 months CD*   1.49% Rate   1.50% APY | 1.15% Rate   1.15% APY
35 months CD*   1.74% Rate   1.75% APY | 1.39% Rate   1.40% APY

 

Rate Riser – 5 Year CD or IRA Promotion

Year Rate APY
Year 1 .50% .50%
Year 2 .75% .75%
Year 3 1.49% 1.50%
Year 4 2.23% 2.25%
Year 5 3.45% 3.51%

 

5-year average APY – 1.70%

Certificate of Deposit


Rate Term Rate APY Min. Bal.
30 Day CD** 30 Days 0.1000 0.1000 $1,000
91 Day CD* 91 Days 0.1000 0.1000 $1,000
182 Day CD* 182 Days 0.1500 0.1500 $1,000
9 Month CD* 9 Months 0.1500 0.1500 $1,000
12 Month CD* 12 Months 0.2000 0.2000 $1,000
14 Month CD* 14 Months 0.2000 0.2000 $1,000
18 Month CD* 18 Months 0.2500 0.2500 $1,000
24 Month CD* 24 Months 0.3000 0.3000 $1,000
30 Month CD* 30 Months 0.3500 0.3500 $1,000
36 Month CD* 36 Months 0.4000 0.4000 $1,000
48 Month CD* 48 Months 0.6000 0.6000 $1,000
54 Month CD* 54 Months 1.0000 1.0000 $1,000
60 Month CD* 60 Months 1.0000 1.0000 $1,000
56 Month CD* 56 Months 1.0000 1.0000 $1,000
59 Month CD* 59 Months 1.0000 1.0000 $1,000

Christmas Club


Rate Term Rate APY Min. Bal.
Christmas Club* 0.0500 0.0500 N/A

Commercial Interest Checking


Rate Term Rate APY Min. Bal.
$10,000.00 - $24,999.99 0.0250 0.0250 **$10,000
$25,000.00 - $49,999.99 0.0250 0.0250 **$25,000
$50,000.00 or more 0.0250 0.0250 **$50,000

Fixed Rate IRA Account


Rate Term Rate APY Min. Bal.
30 Month Fixed IRA* 30 Months 0.3500 0.3500 $1,000
56 Month Fixed IRA* 56 Months 1.0000 1.0000 $1,000
59 Month Fixed IRA* 59 Months 1.0000 1.0000 $1,000
60 Month Fixed IRA* 60 Months 1.0000 1.0000 $1,000

Health Savings Account


Rate Term Rate APY Min. Bal.
$0.01 - $999.99 0.0500 0.0500 **$0.01
$1,000.00 - $4,999.99 0.1000 0.1000 **$1,000
$5,000.00 - $9,999.99 0.1500 0.1500 **$5,000
$10,000.00 or more 0.2000 0.2000 **$10,000

Max 50 Plus


Rate Term Rate APY Min. Bal.
Max 50 Plus Checking** 0.0500 0.0500 $100

Now Account Checking


Rate Term Rate APY Min. Bal.
NOW Account Checking** 0.0250 0.0250 N/A

Passbook Savings


Rate Term Rate APY Min. Bal.
Passbook Savings* 0.0500 0.0500 N/A

Preferred Money Market Account


Rate Term Rate APY Min. Bal.
$0.01 - $9,999.99 0.0500 0.0500 **$0.01
$10,000.00 - $24,999.99 0.1000 0.1000 **$10,000
$25,000.00 - $49,999.99 0.1500 0.1500 **$25,000
$50,000.00 - $99,999.99 0.2000 0.2000 **$50,000
$100,000.00 or more 0.2500 0.2500 **$100,000

Variable Education IRA


Rate Term Rate APY Min. Bal.
Variable Education IRA* 0.1000 0.1000 N/A

Variable Rate IRA Account


Rate Term Rate APY Min. Bal.
$0.01 - $999.99 0.0500 0.0500 *$.01
$1,000.00 - $4,999.99 0.1000 0.1000 *$1,000
$5,000.00 - $9,999.99 0.1500 0.1500 *$5,000
$10,000.00 or more 0.2000 0.2000 *$10,000

For additional deposit products and rates, contact us at (440) 293-7605.
 
  • *Quarterly Compounding   ** Monthly Compounding, APY = Annual Percentage Yield
  • Penalty for Early Withdrawal
  • Fees May Reduce Earnings
  • Member FDIC