All rates current as of: December 21, 2024 and are subject to change at Andover Bank's discretion. Rates for balances up to $250,000.00. For larger amounts please contact us at (844) 259-5473.
Personal Checking Rates
Rates subject to change after account opening.
| Account |
Rate |
APY |
Minimum Balance |
Notes |
| Affinity Checking **** |
3.93% |
4.00% |
**$0.01 |
- |
| |
0.05% |
0.05% |
**$10,000.01 |
- |
| Rewards Checking ** |
0.01% |
0.01% |
N/A |
- |
| Interest Checking ** |
0.01% |
0.01% |
N/A |
- |
Personal Savings Rates
Rates subject to change after account opening.
| Account |
Rate |
APY |
Minimum Balance |
Notes |
| Statement Savings* |
0.03% |
0.03% |
N/A |
Compounds quarterly |
| Smart Saver |
0.03% First 90 Days
0.03% After 90 Days |
0.03% First 90 Days
0.03% After 90 Days |
$0.01 - 9,999.99 |
Withdrawal limits applyt |
| |
0.30% First 90 Days
0.10% After 90 Days |
0.30% First 90 Days
0.10% After 90 Days |
$10,000.00 - 49,999.99 |
See above |
| |
0.30% First 90 Days
0.15% After 90 Days |
0.30% First 90 Days
0.15% After 90 Days |
$50,000.00 - 99,999.99 |
See above |
| |
0.30% First 90 Days
0.20% After 90 Days |
0.30% First 90 Days
0.20% After 90 Days |
$100,000.00 + |
See above |
| Companion Savings *** |
0.03% |
0.03% |
**$0.01 |
- |
| |
2.05% |
2.07% |
**$2,500.00 |
With 12 debit card transactions over $10.00 posted to account; 0.05% if qualifications not met |
| |
1.05% |
1.05% |
**$10,000.01 |
- |
| Preferred Money Market Account |
0.03% |
0.03% |
**$0.01 |
Compounds Monthly |
| |
0.05% |
0.05% |
**$10,000.00 |
See above |
| |
0.10% |
0.10% |
**$25,000.00 |
See above |
| |
0.15% |
0.15% |
**$50,000.00 |
See above |
| |
0.20% |
0.20% |
**$100,000.00 |
See above |
| Money Market Plus |
0.10% |
0.10% |
**$0.01 |
Compounds Monthly |
| |
1.00% |
1.00% |
**$10,000.00 |
See above |
| |
2.00% |
2.02% |
**$50,000.00 |
See above |
| |
1.25% |
1.26% |
**$250,000.00 |
See above |
| |
1.00% |
1.00% |
**$1,000,000.00 |
See above |
| Christmas Club * |
0.03% |
0.03% |
N/A |
Compounds quarterly |
| Health Savings Account |
0.02% |
0.02% |
**$0.01 |
Compounds monthly |
| |
0.03% |
0.03% |
**$1,000.00 |
See above |
| |
0.05% |
0.05% |
**$5,000.00 |
See above |
| |
0.10% |
0.10% |
**$10,000.00 |
See above |
Certificate of Deposit Rates
All Andover Bank Certificate of Deposits require a minimum deposit of $1,000.00 with a maximum of $250,000.00.
| Term |
Rate |
APY |
| 30 Day CD** |
0.05% |
0.05% |
| 91 Day CD* |
0.05% |
0.05% |
| 5 Month CD* |
4.23% |
4.30% |
| 6 Month CD* |
3.89% |
3.95% |
| 9 Month CD* |
1.24% |
1.25% |
| 10 Month CD* |
1.99% |
2.00% |
| 11 Month CD* |
3.45% |
3.50% |
| 12 Month CD* |
0.20% |
0.20% |
| 13 Month CD* |
1.99% |
2.00% |
| 14 Month CD* |
0.25% |
0.25% |
| 18 Month CD* |
0.25% |
0.25% |
| 24 Month CD* |
0.30% |
0.30% |
| 30 Month CD* |
3.45% |
3.50% |
| 36 Month CD* |
0.30% |
0.30% |
| 48 Month CD* |
0.35% |
0.35% |
| 56 Month CD* |
3.45% |
3.50% |
| 60 Month CD* |
0.35% |
0.35% |
Fixed Rate IRA
All Andover Bank IRAs require a minimum deposit of $1,000.00 with a maximum of $250,000.00.
| Term |
Rate |
APY |
| 30 Month Fixed IRA* |
3.45% |
3.50% |
- |
| 60 Month Fixed IRA* |
0.35% |
0.35% |
Variable Rate IRA
| Term |
Rate |
APY |
Minimum Balance |
Notes |
| - |
0.02% |
0.02% |
*$.01 |
|
| - |
0.03% |
0.03% |
*$1,000.00 |
|
| - |
0.05% |
0.05% |
*$5,000.00 |
|
| - |
0.10% |
0.10% |
*$10,000.00 |
|
Business Checking Rates
Rates subject to change after account opening.
| Account |
Rate |
APY |
Minimum Balance |
Notes |
| Commercial Interest Checking |
0.01% |
0.01% |
**$10,000.00 |
- |
| |
0.01% |
0.01% |
**$25,000.00 |
- |
| |
0.01% |
0.01% |
**$50,000.00 |
- |
Business Savings Rates
Rates subject to change after account opening.
| Account |
Rate |
APY |
Minimum Balance |
Notes |
| Statement Savings* |
0.03% |
0.03% |
N/A |
Compounds quarterly |
| Business Money Market |
0.04% |
0.04% |
**$0.01 |
Compounds Monthly |
| |
0.20% |
0.20% |
**$50,000.00 |
See above |
| |
0.20% |
0.20% |
**$500,000.00 |
See above |
| |
0.20% |
0.20% |
**$1,000,000.00 |
See above |
For additional deposit products and rates, contact us at (844) 259-5473.
APY = Annual Percentage Yield
*Quarterly Compounding
** Effective for new accounts as of 1/4/18 Monthly Compounding
***Can only get with Rewards Checking, 12 debit card transactions of $10.00 or more posted during statement cycle
**** 12 debit card transactions of $10.00 or more posted during statement cycle. If the requirement is not met the base Rate and APY is 0.05%
Penalty for Early Withdrawal
Fees May Reduce Earnings
tIf you exceed 6 withdrawals per month, there will be a $5.00 fee for each additional withdrawal. If the current balance falls below $1,000.00 at any time, there will be a $10.00 monthly service charge.
Got Additional Questions?
If you have questions about any of our deposit or loan programs, feel free to get in touch. We'll be happy to talk with you further and help you select the product that's right for your financial needs.
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