Machias Savings Bank

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Rates Disclosure

Rates and APY’s are accurate as of

  • Opening Deposit = Deposit required to open account.
  • Balance Required = Deposit balance required to earn rate.
  • APY = Annual Percentage Yield.
  • FDIC Insures each depositor up to $250,000.
  • Checking account fees may apply and reduce earnings on the account.
  • Certificate of Deposit early withdrawal penalties may apply and reduce earnings on the account.
  • Interest rates are subject to change at the bank's discretion without notice to customer.

Savings Rates

Type *Opening
Deposit
Balance Required Interest
Rate
APY***
Personal & Business Ultimate Savings $25,000.00 $0.01 - $24,999.99 0.05% 0.05%
    $25,000.00 & over 0.15% 0.15%
Personal & Business Statement Savings $1.00 $0.01-24,999.99 0.05% 0.05%
    $25,000.00 & over 0.10% 0.10%
Kid's Club Statement Savings $1.00 $0.01 & over 0.10% 0.10%
Your Choice Savings** $1.00 $0.01 & over 0.10%

0.10%

*Deposit required to open account & keep account open.
**Funds credited to savings or checking annually on a chosen payout date of March 30, June 30, September 30, December 30.
***The Annual Percentage Yield on all savings accounts is calculated using a 365 day calendar year.

CD Rates

Type * Opening
Deposit
Interest APY***
3 Month $1,000.00 0.15% 0.15%
6 Month $1,000.00 0.20% 0.20%
12 Month $1,000.00 0.27% 0.27%
18 Month $1,000.00 0.35% 0.35%
24 Month $1,000.00 0.50% 0.50%
36 Month $1,000.00 0.75% 0.75%
48 Month $1,000.00 0.95% 0.95%
60 Month $1,000.00 1.49% 1.50%
Starter CD $250.00 0.27% 0.27%
Ultimate CD $5,000.00 0.75% 0.75%

*Deposit required to open account & keep account open.
***The Annual Percentage Yield on all certificate of deposit accounts is calculated using a 365 day calendar year.

IRA Rates

Type Opening
Deposit
Interest
Rate
APY*
Regular IRA Statement Savings $10.00 0.27% 0.27%
3 Month IRA $250.00 0.15% 0.15%
6 Month IRA $250.00 0.20% 0.20%
12 Month IRA $250.00 0.27% 0.27%
18 Month IRA $250.00 0.34% 0.35%
24 Month IRA $250.00 0.49% 0.50%
36 Month IRA $250.00 0.74% 0 .75%
48 Month IRA $250.00 0.93% 0.95%
60 Month IRA $250.00 1.47% 1.50%
Health Savings Account (HSA) $1,000.00 0.27% 0.27%

*The Annual Percentage Yield on all term IRAs is calculated using a 360 day calendar year. The Annual Percentage Yield on the Regular IRA Statement Savings and the Health Savings Account is calculated using a 365 day calendar year. 

Checking/Money Fund Rates

Type Opening
Deposit
Balance Required Interest
Rate
APY**
Personal & Business Money Fund $2,500.00 $0.01-2,499.99 0.05% 0.05%
    $2,500.00-24,999.99 0.05% 0.05%
    $25,000.00-99,999.99 0.10% 0.10%
    $100,000.00 & over 0.15% 0.15%
Business Relationship $100.00 $.01-$4,999.99  0.00%  0.00%
    $5,000.00 and over 0.01% 0.01%
         
Business Analysis **** $100.00 N/A 0.00% 0.00%
Community Checking $100.00 $0.01-24,999.99 0.05% 0.05%
    $25,000.00-249,999.99 0.05% 0.05%
    $250,000.00-749,999.99 0.10% 0.10%
    $750,000.00 & over 0.15% 0.15%
Ultimate Simple $100.00 N/A 0.00% 0.00%
Ultimate Green *** $100.00 $0.01-$10,000.00 0.50% 0.50%
    Daily balances exceeding $10,000.001 0.05% 0.05%
Ultimate Relationship * $100.00 $0.01-9,999.99 0.01% 0.01%
    $10,000-24,999.99 0.03% 0.03%
    $25,000.00 & over 0.05% 0.05%
Health Savings Account (HSA) $25.00 $0.01 & over 0.15%

0.15%

*Combined deposit of $10,000.00 in eligible accounts.
**The Annual Percentage Yield on all checking and money fund accounts is calculated using a 365 day calendar year.
***Ultimate Green Account Details: The interest rate is variable and may change after the account is open. 0.50% APY paid on daily balances up to $10,000.00, and 0.05% APY paid on daily balances above $10,000.00 each qualifying cycle (month) that all reward requirements are met. Account daily balances will earn 0.05% APY when reward requirements are not met per cycle. Offer good on personal accounts only. Accounts not enabled to receive a monthly eStatement will incur an $8.00 service fee each statement cycle. 
1If the balance in your account exceeds $10,000.00, the entire account balance earns at the lower rate of 0.05% for each day the balance is in excess of $10,000.00.

**** Earnings Credit Monthly Allowance (90% of positive ledger balance x .10% x # days of month/365)

Mortgage Loans

Click here to see rates and complete an application for a mortgage.

OUR FOCUS

As a customer of Machias Savings Bank, the focus is on you. We will enhance your banking relationship by working with you to discover your banking needs. We will be there when you need us.

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Member FDIC. Equal Housing Lender logo Equal Housing Lender.
Routing Number: 211274531
NMLS Number: 469539

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