INTEREST RATES

  • Current as of: May 1, 2018
  • 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

  • Early withdrawal penalties may apply. Fees will reduce earnings

 

Term   $1,000.00 minimum, max of $250,000.00    
15 months CD*   2.03% Rate   2.05% APY        
25 months CD*   2.23% Rate   2.25% 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%

 

 

Smart Saver

Earn 1.85% APY on balances of $10,000.00 or more for the first 90 days!

You'll still earn a fantastic rate afterwards:

Balance First 90 Days (APY) After 90 Days (APY)
$0.01 - 9,999.99 0.05% .05%
$10,000.00 - 49,999.99         1.85%          1.00%
$50,000.00 - 99,999.99 1.85%  1.25%
$100,000.00 + 1.85%  1.50%

If you exceed 6 withdrawals per month, there will be a $5.00 fee for each additional withdrawal. If the current balance falls below $1,000.00 at any time, there will be a $10.00 monthly service charge.

Affinity Checking ****


Rate Term Rate APY Min. Bal.
$0.01 - $10,000.00 1.9800 2.0000 **$0.01
$10,000.01 or more 0.0500 0.0500 **$10,000.01

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
11 Month CD* 11 Months 1.2400 1.2500 $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
23 Month CD* 23 Months 1.4900 1.5000 $1,000
24 Month CD* 24 Months 0.3000 0.3000 $1,000
30 Month CD* 30 Months 0.3500 0.3500 $1,000
35 Month CD* 32 Months 1.7400 1.7500 $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
56 Month CD* 56 Months 1.0000 1.0000 $1,000
59 Month CD* 59 Months 1.0000 1.0000 $1,000
60 Month CD* 60 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

Companion Savings ***


Rate Term Rate APY Min. Bal.
$0.01 - $2,499.99 0.0500 0.0500 **$0.01
$2,500.00 - $10,000.00 1.0500 1.0500 **$2,500.00
$10,000.01 or more 0.0500 0.0500 **$10,000.01

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

Interest Checking **


Rate Term Rate APY Min. Bal.
Interest 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

Rewards Checking **


Rate Term Rate APY Min. Bal.
Rewards Checking 0.0500 0.0500 N/A

Statement Savings*


Rate Term Rate APY Min. Bal.
Statement Savings 0.0500 0.0500 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.
 

APY = Annual Percentage Yield

  • *Quarterly Compounding   
    ** Effective for new accounts as of 1/4/18 Monthly Compounding 
    ***Can only get with Rewards Checking, 12 debit card transactions of $10.00 or more posted during statement cycle
    **** 12 debit card transactions of $10.00 or more posted during statement cycle. If the requirement is not met the base Rate and APY is 0.05%
  • Penalty for Early Withdrawal
  • Fees May Reduce Earnings
  • Member FDIC