Compare CD and IRA Terms & Rates

Certificate of Deposit & IRA Deposits

Term
Minimum Deposit
Minimum Balance
(to obtain APY)
Interest Rate
Annual Percentage Yield
(APY)
Interest Compounded/Credited
Early Withdrawal Penalty
30 Days $500 $500 0.20% 0.20% Monthly/Monthly 30 Days Interest
91 Days $500 $500 0.20% 0.20% Quarterly/Monthly All Interest Earned Minimum 30 Days
6 Months $500 $500 0.30% 0.30% Monthly/Monthly 3 Months Interest
1 Year $500 $500 0.49% 0.50% Continuously/Monthly 3 Months Interest
18 Months $500 $500 0.59% 0.60% Continuously/Monthly 6 Months Interest
2 Years $500 $500 1.00% 1.02% Continuously/Monthly 6 Months Interest
3 Years $500 $500 1.41% 1.42% Monthly/Monthly 6 Months Interest
5 Years $500 $500 1.76% 1.77% Monthly/Monthly 6 Months Interest
7 Years $500 $500 1.24% 1.25% Monthly/Monthly 6 Months Interest

APY’s effective as of Saturday, August 29, 2015

IRA 18 Month Certificates of Deposit

Product
Minimum Deposit
Minimum Balance
(to obtain APY)
Interest Rate
Annual Percentage Yield
(APY)
Interest Compounded/Credited
Early Withdrawal Penalty
Steady Earner $500 $500 0.59% 0.60% Continuously/Monthly 6 Months Interest
Market Pacer $25 $25 0.59% 0.60% Continuously/Monthly 6 Months Interest

APY’s effective as of Saturday, August 29, 2015

 

A Closer Look

IRA Note

  • In addition to the 18 month IRA certificates, any savings account classification may be used as an investment vehicle provided the minimum, balance requirement and account term are adhered to.
  • Early withdrawal penalties may be waived for the disbursement of automatically recurring retirement distributions where the retiree is at least 59 1/2 years of age. Early withdrawal penalties are not waived for trustee transfer distributions.
  • Once annually without penalty, multiple IRA certificates may be consolidated into a new certificate of the depositor’s choice.

Homebuyer Certificate of Deposit

  • Minimum deposit to open account: $100
  • Minimum balance to obtain annual percentage yield: $100
  • Choose a 1 to 3 year certificate term
  • Add as little as $25 a month by auto transfer from your Manasquan Savings Bank checking account
  • Early withdrawal penalty waived for purchase of a home
  • Earn a $100 mortgage application fee credit when you close your Manasquan Savings Bank Home Loan

Easy Add Certificate of Deposit

  • Minimum deposit to open account: $100
  • Minimum balance to obtain annual percentage yield: $100
  • Certificate term: 1 year
  • Add as little as $25 a month by auto transfer from your Manasquan Savings Bank checking account
  • Early withdrawal penalty waived for purchase of a home or payment of higher education bills (documentation required)
  • Earn a $100 mortgage application fee credit when you close your Manasquan Savings Bank Home Loan

Certificates of Deposit

  • The interest rate for your account will be paid until the maturity date of your certificate. (Exception: The rate for the IRA 18 Month Market Pacer Account is subject to change monthly to the rate currently being paid on the IRA 18 Month Steady Earner Account)
  • Annual Percentage Yield (APY) assumes interest remains on deposit, withdrawal of interest will reduce earnings.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
  • This account will automatically renew at maturity. You will have seven (7) calendar days from the maturity date to withdraw your funds without being charged a penalty.
  • After the account is opened, except as noted for certain certificates, you may not make deposits or withdrawals other than earnings from this account until the maturity date.
  • Interest can remain in account for compounding or be withdrawn by interest check or transferred to another account on deposit here, providing a $5,000.00 balance is maintained in the certificate account.
  • We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
  • If any of the deposit is withdrawn before the maturity date, a early withdrawal penalty will be imposed which could result in partial loss of principal.