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Checking / MMA / Savings / CD Rates
Checking December 2, 2024
Local Deposits Only - Oneida, Herkimer, Madison, Otsego Counties
Subject to Change at Anytime
| Account Type | Interest Rate | Annual Percentage Yield | Compounding# | Minimum Opening Deposit | Minimum Average Available Balance to Obtain APY |
|---|---|---|---|---|---|
| Personal (Apply Online) |
0.100% | 0.10% | M | $25.00 | $500.00 |
| Business | 0.100% | 0.10% | M | $50.00 | $500.00 |
| Tax-Exempt | 0.100% | 0.10% | M | $50.00 | $500.00 |
| Municipal | 0.100% | 0.10% | M | $50.00 | $500.00 |
Money Market (MMA) December 2, 2024
Local Deposits Only - Oneida, Herkimer, Madison, Otsego Counties
Subject to Change at Anytime
| Account Type | Interest Rate | Annual Percentage Yield | Compounding# | Minimum Opening Deposit | Minimum Average Daily Balance to Obtain APY |
|---|---|---|---|---|---|
| Personal MMA * (Apply Online) |
1.490% | 1.50% | M | $1000.00 | $1000.00 |
| IRA MMA * | 1.490% | 1.50% | M | $1.00 | $1.00 |
| Business MMA * | 1.490% | 1.50% | M | $1000.00 | $1000.00 |
| Tax Exempt MMA * | 1.490% | 1.50% | M | $1000.00 | $1000.00 |
| Municipal MMA * | 1.490% | 1.50% | M | $1000.00 | $1000.00 |
* If your average available balance is more than $5 million, the APY quoted above is paid on the first $5 million. The APY paid on the balance above $5 million is 1.00%.
You are allowed up to 6 transfers per month. If you inadvertently make more than 6 transfers, there is a fee of $5 per transfer which may reduce your earnings.
Savings December 2, 2024
Local Deposits Only - Oneida, Herkimer, Madison, Otsego Counties
Subject to Change at Anytime
| Account Type | Interest Rate | Annual Percentage Yield | Compounding# | Minimum Opening Deposit | Minimum Average Daily Balance to Obtain APY |
|---|---|---|---|---|---|
| Statement Savings * (Apply Online) |
1.589% | 1.60% | M | $100.00 | $250.00 |
| Health Savings * | 0.996% | 1.00% | M | $1.00 | $1.00 |
| Christmas Club (max $10,000) | 1.986% | 2.00% | Q | $5.00 | $5.00 |
*If your average available balance is more than $5 million, the APY quoted above is paid on the first $5 million. The APY paid on the balance above $5 million is 1.00%.
Certificates of Deposit (CD) December 2, 2024
Local Deposits Only - Oneida, Herkimer, Madison, Otsego Counties
Subject to Change at Anytime - New Customer Limit $3,000,000
| UNDER $100,000 | OVER $100,000 | |||||
|---|---|---|---|---|---|---|
| Account Type | Interest Rate | Annual Percentage Yield | Minimum Opening Deposit and Balance to Obtain APY | Compounding# | Interest Rate | Annual Percentage Yield |
| 1 month up to 3 (Apply Online) |
1.490% | 1.50% | $10,000.00 | M | ||
| 3 months up to 6 (Apply Online) |
4.426% | 4.50% | $10,000.00 | Q | ||
| 6 months up to 1 year (Apply Online) |
3.942% | 4.00% | $500.00 | Q | ||
| 1 year up to 2 (Apply Online) |
3.942% | 4.00% | $500.00 | Q | ||
| 2 years up to 3 (Apply Online) |
3.942% | 4.00% | $500.00 | Q | ||
| 3 years up to 4 (Apply Online) |
3.942% | 4.00% | $500.00 | Q | ||
| 4 years up to 5 (Apply Online) |
3.942% | 4.00% | $500.00 | Q | ||
| 5 years (Apply Online) |
3.942% | 4.00% | $500.00 | Q | ||
Pension CDs (Includes IRA, SEP 401K, ESOP) December 2, 2024
Local Deposits Only - Oneida, Herkimer, Madison, Otsego Counties
Subject to Change at Anytime - New Customer Limit $3,000,000
| Account Type | Interest Rate | Annual Percentage Yield | Compounding# | Minimum Opening Deposit and Balance to Obtain APY |
|---|---|---|---|---|
| 1 year up to 2 |
3.942% | 4.00% | Q | $500.00 |
| 2 years up to 3 |
3.942% | 4.00% | Q | $500.00 |
| 3 years up to 4 |
3.942% | 4.00% | Q | $500.00 |
| 4 years up to 5 |
3.942% | 4.00% | Q | $500.00 |
| 5 years | 3.942% | 4.00% | Q | $500.00 |
There may be reasons, such as federal regulations, that limit our ability to open all account types online. If you are interested in an account that cannot be opened online, email us or call our Personal Banking Department at (315) 797-2700 ext 264.
#Compounding
"Q" is quarterly compounding, "M" is monthly; CDs are compounded "Q" unless term is less than 3 months in which case it's "M".
Bank of Utica Deposit Accounts (including CDs) are not transferable which means you cannot change the name(s) on the account once it has been opened. For more information, review these account disclosures.
Withdrawals of Principal Before Maturity Penalties
A Certificate of Deposit (CD) is a contract to keep a specified amount of money on deposit at the bank for a specified period of time. Bank of Utica traditionally pays top rates on its CDs, but it is expected that you keep the CD until its maturity. If early withdrawals of principal, including partial withdrawals, are made there are penalties based on the remaining term of the CD as follows:
| Remaining Term | Penalty To Be Paid |
|---|---|
| One Year or Less | Three Months Interest |
| Over One Year through Two Years | Six Months Interest |
| Over Two Years through Three Years | Nine Months Interest |
| Over Three Years through Four Years | Twelve months Interest |
| Over Four Years through Five Years | Fifteen Months Interest |
If there is not sufficient interest accrued on the CD out of which to pay the penalty, the difference would be taken out of the principal of the CD. If the depositor has died or been judicially declared to be an incapacitated person, no penalty is imposed. In the absence of a Bank of Utica Deposit Resolution and signature card, the proceeds of any CD will only be deposited to a Bank of Utica account of the Depositor or paid by check to the Depositor.
For more information, you can view or print our Open An Account With Us - It's Quick and Easy brochure or call our Personal Banking Department, at (315) 797-2700 ext. 264.