If requirements are not met, you will earn our Statement Savings Rate, which is 0.020% APY as of 2/1/21, on balances above and including $10.$10 minimum deposit to open. There is a maximum of 6 transfers allowed from a savings account per month. Rates may change at any time without prior notice. One per tax reporting owner. Interest on Merrimack County Savings Bank’s deposits is compounded every month and credited to your account monthly, using the daily balance method. This method applies a daily periodic rate to the principal in the account each day. Accrual of interest on non-cash deposits (for example, checks) begins to accrue no later than the next business.
Checking Rates*
Effective Date: Saturday, March 6, 2021
Bank Interest Rates On Deposits
| Type | Minimum Daily Balance to earn APY* | APY | |
|---|---|---|---|
| Rewards Checking** (Requirements are met) | $10.00 | 1.000% | Open An Account |
| $25,000.00 | 0.020% | ||
| Rewards Checking** (Requirements NOT met) | $10.00 | 0.020% |
*Annual Percentage Yield (APY) and rate subject to change without notice. Rate may change after the account is opened. Fees could reduce earnings on account. Please consult a Personal Banking Manager for information about fees and terms for these accounts.
Bank Deposit Rates Of Popular Banks
**1.00% Annual Percentage Yield (APY) as of 2/1/21 is paid on balances up to, and including, $24,999.99 provided all other account requirements are met for the current statement cycle. For balances $25,000.00 and above, the interest rate and APY of 0.02% will be paid on the portion of your daily balance that is $25,000.00 or greater. If requirements are not met, the interest rate of 0.02% APY will be paid on balances above and including $10. The APY will range downward from 1.00% depending on the balance in the account. For example, the APY, for a balance of $50,000.00 would be 0.51%. Normal activity charges will apply. Fees could reduce earnings. Rates may change at any time without prior notice. Rates may change after account opening. Requirements for each statement cycle are: at least 10 debit card purchases posted per statement cycle, sign up and use Online Banking and Bill Pay at least once per statement cycle, receive at least one direct deposit per statement cycle, and receive a monthly eStatement. If requirements are met, South Shore Bank will refund up to $10 per statement cycle for another bank's ATM surcharges & will not charge a foreign ATM fee for using another bank's ATM. Account requirements will be waived for the first statement cycle. Offer may be withdrawn at any time. One account per tax reporting owner. A statement cycle ends the last business day of a calendar month.