The rates were last updated on December 23, 2008.
Broadway Bank offers competitive rates of interest on Certificates
of Deposit for all terms.
Please call or e-mail us to confirm that
they are still in effect. Annual Percentage Yields are based on
a monthly compounding of interest, payable at maturity. You may
also elect to receive monthly interest checks from your C.D. with
us at the interest rate stated. The minimum deposit required to
open a C.D. with us is $1,000.
C.D.'s can be opened at all of our locations during regular business
hours or by mail.
Deposit Rates
|
| |
Rate* |
APY** |
|
| N.O.W |
.995% |
1.00% |
|
| MMDA |
1.49% |
1.50% |
|
| SAVINGS |
1.49% |
1.50% |
|
| BRIDAL REGISTRY SAVINGS |
1.98% |
2.00% |
|
| JUMBO SAVINGS |
1.98% |
2.00% |
|
| MINOR SAVINGS |
1.98% |
2.00% |
|
Premier Money Market
|
| |
Rate* |
APY** |
|
| Below $10,000 |
.995% |
1.00% |
|
| $10,000 to $24,999 |
1.245% |
1.250% |
|
| $25,000 to $99,999 |
1.49% |
1.50% |
|
| $100,000 or more |
1.98% |
2.00% |
|
Certificates of Deposit ($1,000.00 minimum)
|
| |
Rate* |
APY** |
|
| 30 Days |
.995% |
1.00% |
|
| 90 Days |
1.245% |
1.25% |
|
| 180 Days |
1.49% |
1.50% |
|
| 1 Year |
1.98% |
2.00% |
|
| 2 Years |
2.47% |
2.50% |
|
| 3 Years |
2.72% |
2.75% |
|
| 4 Years |
3.445% |
3.50% |
|
| 5 Years |
3.93% |
4.00% |
|
| Special Promotion New Money ($2,500.00 minimum) |
| 13 months |
2.47% |
2.50% |
|
| 25 months |
2.96% |
3.00% |
|
IRA Deposit Rates
|
| |
Rate* |
APY** |
|
| 30 Days |
.995% |
1.00% |
|
| 60 Days |
.995% |
1.00% |
|
| 90 Days |
1.245% |
1.25% |
|
| 180 Days |
1.49% |
1.50% |
|
| 1 Year |
1.98% |
2.00% |
|
| 2 Years |
2.47% |
2.50% |
|
| 3 Years |
2.72% |
2.75% |
|
| 4 Years |
3.445% |
3.50% |
|
| 5 Years |
3.93% |
4.00% |
|
DISCLOSURES
|
| l |
l |
l |
|
* Customers requesting monthly interest check will be paid the rate only.
|
** Interest must be compounded monthly in order toobtain the quoted Annual Percentage Yield (APY).
|
Two reasons you should consider establishing an IRA are:
- You may be able to deduct some or all of your contributions
to your IRA, depending on your income.
- The earnings-interest, dividends, or capital gains-on your IRA
are not taxed until they are distributed to you, which is usually
after you retire.
In essence, by establishing an IRA, you will defer paying income
taxes on the earnings on the money in the account and possibly on
the money you invest. When you defer paying income tax on the money
in the account, your capital will grow more quickly.
Any individual under the age of 70 1/2 who is receiving taxable
compensation may establish an IRA.
A simplified employee pension plan, known as a SEP, is basically
an employee individual retirement account (IRA) to which an employer
can make tax deductible contributions.
All employer contributions to an employee's SEP account are fully
vested immediately. The employee's W-2 tax form must include SEP
contributions as taxable income, but the amount of the contribution
is a tax deduction for the employee and the employer.
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