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Today’s Rates for a Successful Tomorrow

Metuchen Savings Bank offers great rates to help you along on the road to financial success.

 

Deposit Rates                                                 Open an Account Today    Print Version

              Deposit Interest Rates as of August 29, 2018

Account Type

APY

Interest RateMinimum Deposit to Open AccountMinimum Balance to Obtain APY***
Checking Accounts                                                                                

Kasasa Cash Back® Checking

 

None None $50.00 N/A 

Kasasa Cash® Checking

 

Learn More about current APY and Qualifications Learn More about current Interest Rate and Qualifications $50.00 $0.01 

Senior NOW Checking

0.05%** 0.05%** $50.00 $50.00
New Jersey Consumer Checking None None $50.00 N/A 

** Current rates will be quoted at the time of opening an account. Your interest rate and annual percentage yield (APY) may change at our discretion. Interest begins to accrue on the business day of your deposit. Interest is compounded daily and credited monthly. If you close your account before interest is credited, you will receive the accrued interest. 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.

*** Daily Balance is the amount of principal in the account each day. Annual percentage yield assumes interest remains on deposit. Fees could reduce earnings for any accounts with activity or maintenance fees.

Account Type and Minimum Balance to Obtain APY***APY**Interest Rate**Minimum Deposit to Open Account
Money Market Accounts
Signature Money Market
Above $5,000,000.00 0.25% 0.25% $500.00
$1,000,000.00 to $5,000,000.00 2.00% 1.96% $500.00
$500,000.00 to $999,999.99 1.75% 1.71% $500.00
$100,000.00 to $499,999.99 1.50% 1.47% $500.00
$0.01 to $99,999.00 0.25% 0.25% $500.00

** Current rates will be quoted at the time of opening an account. This is a variable rate account. Your interest rate and APY may change without notice. Interest is compounded monthly and credited monthly. Interest begins to accrue on the day of your deposit. The daily balance method is used to calculate the interest on your account. Interest is paid on the full balance in the account at the rate that corresponds to that deposit tier. You will receive a monthly statement on this account.

*** Daily Balance  is the amount of principal in the account each day. Annual percentage yield assumes interest remains on deposit. Withdrawal of interest will reduce earnings. If the average daily balance drops below $500.00, there will be a monthly minimum balance fee of $5.00. Fees could reduce earnings for any accounts with activity or maintenance fees.

If you close your account before the interest is credited, you will receive the accrued interest to day of withdrawal. 

Government regulations allow up to six (6) pre-authorized transfers per statement cycle by means of a pre-authorized or automatic transfer, or telephonic agreement, order or instruction, or by check, draft, debit card or similar order made by the depositor and payable to third parties.

Account Type and Minimum Balance to Obtain APY***APY**Interest Rate**Minimum Deposit to Open Account
Super Money Market
 $125,000.00 and above  0.30% 0.30%  $75,000.00
 $100,000.00 to $124,999.99 0.25% 0.25% $75,000.00
 $75,000.00 to $99,999.99 0.15% 0.15% $75,000.00
 $0.01 to $74,999.99 0.10% 0.10% $75,000.00

** Current rates will be quoted at the time of opening an account. This is a variable rate account. Your interest rate and APY may change without notice. Interest is compounded daily and credited monthly. Interest begins to accrue on the day of your deposit .The daily balance method is used to calculate the interest on your account. Interest is paid on the full balance in the account at the rate that corresponds to that deposit tier. You will receive a monthly statement on this account.

*** Daily Balance  is the amount of principal in the account each day. Annual percentage yield assumes interest remains on deposit. Withdrawal of interest will reduce earnings. If the average daily balance drops below $500.00, there will be a monthly minimum balance fee of $5.00. Fees could reduce earnings for any accounts with activity or maintenance fees.

If you close your account before the interest is credited, you will receive the accrued interest to day of withdrawal. 

Government regulations allow up to six (6) pre-authorized transfers per statement cycle by means of a pre-authorized or automatic transfer, or telephonic agreement, order or instruction, or by check, draft, debit card or similar order made by the depositor and payable to third parties.

Account TypeAPY**Interest Rate**Minimum Deposit to Open AccountMinimum Balance to Obtain APY***
Savings Accounts
 Statement Savings 0.15% 0.15%   $50.00 $50.00 
Regular Savings 0.15% 0.15% $50.00

$50.00 

** Current rates will be quoted at the time of opening an account. Your interest rate and annual percentage yield (APY) may change at our discretion. Interest begins to accrue on the business day of your deposit. Interest is compounded daily and credited monthly. If you close your account before interest is credited, you will receive the accrued interest. 

*** Daily Balance is the amount of principal in the account each day. 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. Annual percentage yield assumes interest remains on deposit. Withdrawal of interest will reduce earnings.

Account TypeAPY**Interest Rate**Minimum Deposit to Open AccountMinimum Balance to Obtain APY***
Holiday and Vacation Club Accounts
 Holiday Club 0.25%   0.25%  $1.00 $1.00 
Vacation Club 0.25% 0.25% $1.00 $1.00

Clubs available in any amount from $1.00 and up. These are passbook accounts.

Your interest rate and annual percentage yield may change, at our discretion. 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. Interest is credited to the account at maturity. Early close-out of account forfeits interest.

Account TypeAPY**Interest Rate**Minimum Deposit to Open AccountMinimum Balance to Obtain APY***
Certificates of Deposit – Regular & IRA
Special Offers
18 Month Variable CD IRA ONLY* 0.84% 0.84% $100.00 $100.00
CDs – Regular & IRA
3 Month CD  0.20%  0.20% $500.00  $500.00 
6 Month CD 0.25% 0.25%  $500.00 $500.00 
9 Month CD 0.30%  0.30%  $500.00 $500.00 
10 Month CD 0.30% 0.30%  $500.00 $500.00 
12 Month CD 1.95% 1.93% $500.00 $500.00
18 Month CD 0.55%  0.55% $500.00   $500.00
22 Month CD 0.65% 0.65%   $500.00 $500.00 
 30 Month CD 2.50%  2.47%  $500.00  $500.00 
48 Month CD 1.21%  1.20%  $500.00  $500.00 
60 Month CD  1.36% 1.35%   $500.00  $500.00

 * Ask about the 18-month variable rate with $100.00 minimum to open & additions permitted in any amount during the term without extending the maturity date. This is a special offer exclusively for Retirement Accounts. Interest rate is subject to change at any time.

** Current rates will be quoted at the time of opening an account.

*** Daily Balance (the amount of principal in the account each day). Annual percentage yield assumes interest remains on deposit. Withdrawal of interest will reduce earnings.

The interest rate for your account will be paid until the maturity date of your certificate.

Interest is compounded daily and will be credited to your account monthly and at maturity. Interest begins to accrue on the business day of your deposit. 

Regular Certificates of Deposit 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, you may not make deposits into or withdrawals other than the earnings from this account until the maturity date. At maturity, interest becomes part of the principal balance and subject to penalty if withdrawn after grace period.

Interest can remain in account for compounding or be withdrawn by interest check or transferred to another account on deposit here during the term of the certificate.

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 penalty as shown below will be imposed which could result in partial loss of principal.

Special Offer Certificates of Deposit only (excludes 18-month Variable CD):
The offering is for a limited period of time and can be withdrawn at our discretion. Your account will automatically renew at maturity to the Term above for the rate then in effect for that term certificate. You will have seven (7) calendar days from the maturity date to withdraw your funds without being charged a penalty.

Penalties for IRA CDs- the Early Withdrawal Penalty is waived if 59 1/2 years or older.

Penalties for Regular CDs -

Term Early Withdrawal Penalty
1 year or less  3 months interest
over 1 year  6 months interest

Lending Rates                                                                                  Print Version

Lending Interest Rates as of August 17, 2018

For Additional Information Please Contact:                                                                                                                      

Daniela Wenskoski | 732-548-7400 x 6317 | NMLS # 1477605

Elyse Gordner | 732-548-7400 x 6313 | NMLS # 1472840

TypeLoan AmountRatePointsAPRCost per $1,000 Borrowed *
Fixed Rate Mortgages                                                                              
30 Year Fixed  up to $453,100 4.500% 0 PTS  4.562%  $5.07
20 Year Fixed  up to $453,100 4.125% 0 PTS  4.209%  $6.13
15 Year Fixed  up to $453,100 3.750%  0 PTS  3.817%  $7.27
10 Year Fixed  up to $453,100 3.750% 0 PTS  3.904%  $10.01
Affordable Housing – Income Limitations Purchase Only
30 Year Fixed **  up to $453,100 4.375%   0 PTS  4.437% $4.99
Fixed Rate Jumbo Mortgages
30 Year Fixed $453,101 to $625,500  4.750%  0.25 PTS 4.784% $5.22
20 Year Fixed $453,101 to $625,500  4.625% 0.25 PTS  4.672%  $6.39
15 Year Fixed $453,101 to $625,500  4.500%  0.25 PTS  4.559%  $7.65
10 Year Fixed $453,101 to $625,500  4.500% 0.25 PTS 4.585%  $10.36

 * If an escrow account is requested for taxes and insurance, the payment will be higher.

** One and two unit eligible properties including condominiums located in Middlesex County. Must be for an owner occupied primary residence. Income restrictions apply.
$595  Application Fee for owner occupied single family dwelling, townhouse or condo with up to two borrowers
$745  Application Fee for owner occupied 2-4 family dwelling with up to two borrowers
$695  Application Fee for investment property with up to two borrowers
Includes Appraisal, Credit Report & Flood Certification; NO Commitment Fee, NO Tax Service Fee, NO Document Prep Fee

TypeLoan AmountRatePointsAPRCost per $1,000 Borrowed *
Adjustable Rate Mortgages

5/1/30 ARM**

$100,000 results in 60 payments of $449.04 @ 3.500% and 300 payments of $504.95 @ 4.625%

Up to $625,500 3.500% 0 PTS  4.589% $4.49

7/1/30 ARM **

$100,000 results in 84 payments of $463.12 @ 3.750% and 276 payments of $504.11 @ 4.625%.

Up to $625,500 3.750% 0 PTS 4.523% $4.63

10/1/30 ARM **

$100,000 results in 120 payments of $470.24 @ 3.875% and 240 payments of $512.33 @ 4.875%.

Up to $625,500 3.875% 0 PTS 4.404% $4.70

* If an escrow account is requested for taxes and insurance, the payment will be higher.

**This is a variable rate product. The interest rate and APR are subject to change. Examples shown only reflect the first/initial rate change. Future changes may result in different payments.

$595  Application Fee for owner occupied single family dwelling, townhouse or condo with up to two borrowers

$745  Application Fee for owner occupied 2-4 family dwelling with up to two borrowers

$695  Application Fee for investment property with up to two borrowers

Includes Appraisal, Credit Report & Flood Certification; NO Commitment Fee, NO Tax Service Fee, NO Document Prep Fee

Maximum Loan Amount

$625,500 for Single Family Owner-Occupied Properties in Middlesex, Monmouth, Union, Ocean, Morris, Passaic, Somerset, Sussex, Bergen, Essex, Hudson & Hunterdon Counties & $453,100 for all others. Please call for rates for loans up to $1,000,000.

Annual Percentage Rates (APR) & Rates shown are for Owner Occupied, Single-Family Homes (no cash-out refinance) with a maximum loan to value (LTV) of 80% and a minimum credit score of 740. APRs for conventional loans up to $453,100 are calculated based on a $100,000 loan amount. High balance loans ($453,101 - $625,500) APRs are based on a $500,000 loan amount. Your rate may vary from those quoted based on factors specific to your transaction. Please contact a Metuchen Savings Bank Representative for further information. All rates are subject to change without notice. All loan products are subject to credit approval. These rates are effective as of 08/17/2018.

TypeLoan AmountRatePointsAPRCost per $1,000 Borrowed
Home Equity Lending

Home Equity Loans

5 Year Fixed

up to $500,000 3.625% 0 PTS 3.625% $18.25

10 Year Fixed

up to $500,000 3.750% 0 PTS 3.750% $10.01
15 Year Fixed up to $500,000 4.125% 0 PTS 4.125% $7.46

Home Equity Line of Credit*

15 Year Variable up to $300,000        

*HELOC Mortgages. Annual Percentage Rate, Rates & APR's are for owner-occupied properties at a maximum of 70% Loan to Value Ratio. If your first mortgage is currently with Metuchen Savings Bank, then the maximum Loan to Value Ratio is 80%. Annual Percentage Rate (APR) shown equates to Prime plus 0.00% for the life of the credit line and is subject to change without notice. The APR for this product is variable. Prime equates to the highest Prime Rate as quoted in The Wall Street Journal on the last business day of the prior month; as of 08/17/2018, Prime Rate was 5.00% resulting in the advertised APR of 5.00%. The lifetime CAP is 16.00%. Homeowners insurance is required.

Prime Rate of Interest

For Information Only 5.00%

 

 

 

                                                                                                                                                        

 

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