Rates

Deposits

Effective July 24, 2017

Savings Accounts

Account Type Minimum Balance Interest Rate APY
Passbook $10.00 0.05% 0.05%
Statement or Companion $10.00 0.05% 0.05%
Before You Know It Club** $10.00 0.25% 0.25%
MoneyMaker –
Money Market Account*
$2,500.00 – 9,999.99
$10,000 – 24,999.99
$25,000 – 49,999.99
$50,000 +
0.05%
0.20%
0.30%
0.45%
0.05%
0.20%
0.30%
0.45%

**Maximum deposits allowed in the Before You Know It Account during the 40 week period is $15,000.00

Checking Accounts

Designed to fit your needs.

Account Type Minimum Balance Interest Rate APY
Premier Checking Account $5,000.00 or $20,000.00
combined deposit balance.
0.05% 0.05%

*Minimum opening deposit is $.01

Certificates of Deposit

Account Term Minimum Balance Interest Rate Annual Percentage Yield
6 month $2,500.00 0.30 % 0.30 %
1 year $500.00 0.45 % 0.45 %
1 1/2 year $500.00 0.54 % 0.55 %
2 year $500.00 0.74 % 0.75 %
2 1/2 year $500.00 0.88% 0.90 %
3 year $500.00 1.18 % 1.20 %
4 year $500.00 1.27% 1.30 %
5 year $500.00 1.47 % 1.50 %
Amplifier IRA 12 Month CD $100.00 0.55 % 0.55 %
I.R.A.s: All certificates of deposit or the statement savings account are available for Individual Retirement Account deposits.  Fees could reduce the earnings on the above accounts.  Rates on certificates of deposit are guaranteed for the length of the term, all other rates are variable and subject to change after the account is opened.  Early withdrawal penalties may be imposed on all certificates.  All APYs are accurate through the dates shown. We are sorry but we can only accept deposits from within our designated banking area.  Unless otherwise noted, the “minimum balance” stated is the minimum balance required to open the account and earn the annual percentage yield (APY).

*SBLI Optimizer Market Value Adjustment (MVA) Annuities

Product Description Base Rate Additional Bonus Tiers
Optimizer 1
Non Market Value Adjustment
Single Premium; One-Year Rate Guarantee
1.10% Under $99,000 – 1.35%
$100,000 to $249,000 – 1.60%
$250,000 and over – 1.85%
Optimizer 2
MVA***
Single Premium; Two-Year Rate Guarantee****
1.40% $5,000 to $49,000 add 0.25% to base rate
$50,000 -$99,000  add 0.50% to base rate
$100,000+ add 1.00% to base rate
Optimizer 3
MVA***
Single Premium; Three-Year Rate Guarantee****
1.65% Under $99,000 – 1.90%
$100,000 – $249,000 – 2.25%
$250,000 and over – 2.40%
Optimizer 5
MVA***
Single Premium; Five-Year Rate Guarantee****
2.00% Under $99,000 – 2.25%
$100,000 – $249,999 – 2.60%
$250,000 and over – 2.75%

* This is not a deposit, is not FDIC or DIF insured, is not insured by any Federal Agency and is not guaranteed by the Bank. The product is subject to investment risks, including possible loss of principal. The safety of your principal and interest, which is unconditionally guaranteed by Saving Bank Life Insurance of Massachusetts, is solely dependent upon the company’s financial condition.
** Rates effective 07/24//2017 and are subject to change. Interest rate bonuses apply in the first year only for the Optimizer 1 and for the entire initial rate guarantee period for the Optimizer 3 and Optimizer 5. Premium bonuses apply in the first year only for the Optimizer 2.
*** MVA or Market Value Adjustment, can be a negative or positive adjustment to withdrawals or surrenders made within the initial interest rate guarantee period. Please ask your financial representative for complete details.
**** Interest rates are guaranteed unless funds are withdrawn or surrendered during the initial rate guarantee period, except for funds withdrawn in accordance with the Free Withdrawal provision.