Raritan State Bank

Savings Accounts

Raritan State Bank offers a variety of savings options in order to offer our customers the product that will best meet their individual needs. From standard savings accounts to CDs, our Customer Service Representatives will welcome the opportunity to work with you to meet your savings goals.

PASSBOOK SAVINGS

Savings accounts are the most flexible way to save. Our regular passbook savings account requires a minimum balance of $10.00 to open an account. Interest is compounded daily, paid quarterly, and is subject to change. Interest will be paid only on days when account balance is $10.00 or more.

CHRISTMAS CLUB

Deposits may be made in any amount and at any time. A minimum balance of $10.00 to open an account and a maximum balance not to exceed $5,000 per household. Account matures on November 1st and no withdrawals are permitted prior to maturity. Interest rate is subject to change, will not be compounded, and will be credited at maturity.

MONEY MARKET DEPOSIT ACCOUNT (MMDA)

The MMDA requires a minimum balance of $1,500.00 to open an account. If the account drops below $1,500.00 during the statement cycle, a $5.00 fee will be assessed. If the daily balance drops below $1,500.00, the interest will be paid at the passbook rate until the balance returns to $1,500.00. Charges per item are based on the date the items are presented for payment, not by the date on the check. Interest is paid the last day of statement cycle and is subject to change.

INDIVIDUAL RETIREMENT ACCOUNT

Retirement accounts help you plan for your future. Through the tax advantages offered by an IRA you get immediate tax savings while your contributions earn interest. Both principal and interest remain tax-deferred until retirement. We offer Individual, Roth and Education IRAs.

CERTIFICATES OF DEPOSIT

CDs are offered for terms of 91 days, 182 days, 12 months, 18 months, 30 months, 36 months, and 48 months. Specially termed CDs are offered occasionally. Automatically renewable CDs are available. Interest on 91 and 182 day CDs is paid at maturity only. On all other terms, interest may be paid monthly, quarterly, semi-annually, or annually. The offered interest rate will be in effect for the term of the CD and a penalty will be assessed for the early withdrawal of funds. The minimum deposit on 91 and 182 day CDs is $500.00. A minimum deposit of $1,000.00 is required for the 12, 18, & 30 month certificate, and a minimum of $5,000 is needed for any term beyond 30 months.

CD Rates

Account Product Name	Daily Balances	Interest Rate	APY	Minimum Opening Deposit	Minimum Balance to Obtain APY
91 Day CD (a)	$500.00 - and up	1.45%	1.46%	$500.00	$500.00
182 Day CD (a)	$500.00 - and up	1.55%	1.56%	$500.00	$500.00
7 Month Special CD (a/e)	$1,000.00 - and up $25,000.00 - $49,999.99 $50,000.00 - $99,999.99 $100,000.00 - and up	4.40% 4.45% 4.50% 4.55%	4.50% 4.55% 4.60% 4.65%	$1,000.00	$1,000.00
12 Month CD (a)	$1,000.00 - $24,999.99 $25,000.00 - $49,999.99 $50,000.00 - $99,999.99 $100,000.00 - and up	1.70% 1.80% 1.90% 2.00%	1.71% 1.82% 1.92% 2.02%	$1,000.00	$1,000.00
18 Month CD (a)	$1,000.00 - $24,999.99 $25,000.00 - $49,999.99 $50,000.00 - $99,999.99 $100,000.00 - and up	1.80% 1.90% 2.00% 2.10%	1.82% 1.92% 2.02% 2.12%	$1,000.00	$1,000.00
30 Month CD (a)	$1,000.00 - and up	2.10%	2.12%	$1,000.00	$1,000.00
36 Month CD (a)	$5,000.00 - and up	2.20%	2.22%	$5,000.00	$5,000.00
48 Month CD (a)	$5,000.00 - and up	2.30%	2.33%	$5,000.00	$5,000.00

Deposit Rates

Account Product Name	Interest Rate	APY	Minimum Opening Deposit	Minimum Balance to Obtain APY
Passbook Savings (b)	0.60%	0.60%	$10.00	$10.00
IRA (b)	1.95%	1.97%	$10.00	$10.00
Christmas Club (b)	1.00%	1.01%	$10.00	$10.00
Now Account Checking (b)	0.65%	0.65%	$1,000.00	$1,000.00
Money Market Checking (b/d)	0.75%	0.75%	$1,500.00	$1,500.0

a) A penalty will be imposed for early withdrawal.
b) The interest rate and annual percentage yield may change after account opening.
c) Daily Balance. The amount of the principal in the account each day.
d) Average daily balance. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.
e) Non-Renewable

Fees could reduce the earnings on the account.

Interest Rates and Annual Percentage Yields are current as of 3/26/2024. Rates and terms are subject to change without notice.

For more information call: Raritan 309-746-6200 / Abingdon 309-462-2220 / Bushnell 309-772-2345

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