| Term | Interest Rate | APY (1) | Frequency of Compounding | Frequency of Crediting | Minimum Balance to Obtain APY | Minimum Opening Deposit |
|---|---|---|---|---|---|---|
| 31 Day | 1.60 | 1.61 | 31 Days | 31 Days | 500.00 | 500.00 |
| 91 Day | 1.60 | 1.61 | 91 Days | 91 Days | 500.00 | 500.00 |
| 6 Month | 2.50 | 2.52 | 6 Months | 6 Months | 500.00 | 500.00 |
| 9 Month | 2.50 | 2.52 | 9 Months | 9 Months | 500.00 | 500.00 |
| 12 Month | 2.75 | 2.78 | Semi-Annual | Semi-Annual | 500.00 | 500.00 |
| 18 Month | 2.75 | 2.78 | Semi-Annual | Semi-Annual | 500.00 | 500.00 |
| 24 Month | 2.85 | 2.89 | Semi-Annual | Semi-Annual | 500.00 | 500.00 |
| 36 Month | 2.85 | 2.89 | Semi-Annual | Semi-Annual | 500.00 | 500.00 |
Investment Rates
Safety and Soundness
Stockgrowers State Bank is a member of the Federal Deposit Insurance Corporation (FDIC). FDIC insurance covers the balance of each depositor's account, dollar-for-dollar, including principal and any accrued interest, up to the insurance limit. Individual retirement accounts are insured separately up to $250,000. Visit the FDIC web site at FDIC Electronic Deposit Insurance Estimator (EDIE) to estimate your coverage.
- Rates are Effective as of July 28, 2023
- Annual Percentage Yield = APY
| Term | Interest Rate | APY (1) | Frequency of Compounding | Frequency of Crediting | Minimum Balance to Obtain APY | Minimum Opening Deposit |
|---|---|---|---|---|---|---|
| 31 Day | 2.05 | 2.07 | 31 Day | 31 Day | 100,000.00 | 100,000.00 |
| 91 Day | 2.05 | 2.07 | 91 Day | 91 Day | 100,000.00 | 100,000.00 |
| 6 Month | 3.60 | 3.63 | 6 Month | 6 Month | 100,000.00 | 100,000.00 |
| 12 Month | 4.10 | 4.14 | Semi-Annual | Semi-Annual | 100,000.00 | 100,000.00 |
| Term | Interest Rate | APY (1) | Frequency of Compounding | Frequency of Crediting | Minimum Balance To Obtain APY | Minimum Opening Deposit |
|---|---|---|---|---|---|---|
| 24 Month Variable Rate PC | 4.10 | 4.14 | Semi-Annual | Semi-Annual | 50.00 | 50.00 |
| Term | Interest Rate | APY (1) | Frequency of Compounding | Frequency of Crediting | Minimum Balance To Obtain APY | Minimum Opening Deposit |
|---|---|---|---|---|---|---|
| 24 Month Variable Rate PC | 4.10 | 4.14 | Semi-Annual | Semi-Annual | 50.00 | 50.00 |
| Term | Interest Rate | APY (1) | Frequency of Compounding | Frequency of Crediting | Minimum Balance To Obtain APY | Minimum Opening Deposit |
|---|---|---|---|---|---|---|
| Regular Savings Account* | 0.75 | 0.75 | Daily | Quarterly | N/A | 10.00 |
| Prestige Account* | 0.50 | 0.50 | Monthly | Monthly | N/A | 50.00 |
| NOW Account* | 0.60 | 0.60 | Monthly | Monthly | N/A | 1,500.00 |
| Minimum Balance To Obtain APY | Interest Rate | APY (1) | Frequency of Compounding | Frequency of Crediting | Minimum Opening Deposit | |
|---|---|---|---|---|---|---|
| Tier 1 | 0-2,499.99 | 0.60 | 0.60 | Monthly | Monthly | 2,500.00 |
| Tier 2 | 2,500.00 & over | 0.75 | 0.75 | Monthly | Monthly | 2,500.00 |
|
|
Minimum Balance
to obtain APY
|
Interest Rate | APY (1) | Frequency of Compounding | Frequency of Crediting |
Minimum Opening Deposit
|
|---|---|---|---|---|---|---|
| Tier 1 | 0-2,499.99 | 0.75 | 0.75 | Monthly | Monthly | 2,500.00 |
| Tier 2 | 2,500-24,999.99 | 0.90 | 0.90 | Monthly | Monthly | 2,500.00 |
| Tier 3 | 25,000-49,999.99 | 1.00 | 1.01 | Monthly | Monthly | 2,500.00 |
| Tier 4 | 50,000-99,999.99 | 1.15 | 1.16 | Monthly | Monthly | 2,500.00 |
| Tier 5 | 100,000 & over | 1.15 | 1.16 | Monthly | Monthly | 2,500.00 |
*These are variable rate accounts and the rate may change after the account is opened.
The effect of fees may reduce earnings:
(1) The APY assumes interest will remain on deposit for a full year at the advertised rate. Any withdrawal will reduce earnings.
(2) Funds must remain on deposit until maturity to earn the advertised yield. Substantial interest penalty is required for early withdrawal as follows: for maturities of one year or less, the interest penalty is thirty-one days interest; for maturities of greater than one year, the interest penalty is ninety-one days interest.
(3) This is a variable rate IRA CD. The interest rate and APY is subject to change every six months. The rate on this account is based on current market conditions. PC means "Periodic Contribution". A $50.00 minimum contribution is allowed on Traditional, Roth, and Education IRAs. IRA transfers or rollovers to another institution and premature distributions are subject to a $75.00 administrative fee. Early withdrawal penalties may also apply.
(4) If your Daily Ledger Balance is $2,500.00 or more, the interest rate paid on the entire balance in your account will be .75% with an APY of .75%. If your Daily Ledger Balance is $2,499.99 or less, the interest rate paid on the entire balance will be 0.60% with an APY of 0.60%.
(5) This is a tiered Money Market Demand Account. Interest is paid on the daily ledger balance. If your balance is $2,499.00 or less, the interest rate paid on the entire balance in your account will be 0.75% with an APY of 0.75%. If your balance is $2,500 to 24,999.99 the interest rate paid on the entire balance in your account will be 0.90% with an APY of 0.90%. If your balance is $25,000 to $49,999.99, the interest paid on your entire balance in your account will be 1.00% with an APY of 1.01%. If your balance is $50,000 to $99,999.99, the interest rate paid on the entire balance will be 1.15% with an APY of 1.16%. If your balance is $100,000 or greater, the interest rate paid on the entire balance in your account will be 1.15% with an APY of 1.16%.
Member Federal Deposit Insurance Corporation