Rates

Deposits

Effective June 12, 2018

Savings Accounts

Account Type Minimum Opening Balance* Interest Rate Annual Percentage Yield
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%
Premier Money Market*** $2,500.00 – 9,999.99
$10,000 – 24,999.99
$25,000 – 49,999.99
$50,000 – 499,999.99
$500,000 – 999,999.99
$1,000,000 +
0.05%
0.20%
0.30%
0.45%
0.60%
0.75%
0.05%
0.20%
0.30%
0.45%
0.60%
0.75%

*APY is earned on all balances over $.01
**Maximum deposits allowed in the Before You Know It Account during the 40 week period is $15,000.00
***Minimum amount to open account is $2,500.

Checking Accounts

Designed to fit your needs.

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

Certificates of Deposit

Account Term Minimum Opening Balance Interest Rate Annual Percentage Yield
15 Month Promotion CD $500.00 1.23 % 1.25 %
15 Month New Money CD* $500.00 1.71 % 1.75 %
25 Month Promotion CD $500.00 2.19 % 2.25 %
35 Month Promotion CD $500.00 2.68 % 2.75 %
6 month $2,500.00 0.30 % 0.30 %
1 year $500.00 0.60 % 0.60 %
1 1/2 year $500.00 0.68 % 0.70 %
2 year $500.00 0.79 % 0.80 %
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 0.70 % 0.70 %
* Funds not currently on deposit at Lowell Five Bank.

 

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, APY is earned on all balances over $.01.

*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 06/12/2018 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.