Banking products are provided by Berkshire Bank: Member FDIC. Berkshire Bank is a Massachusetts chartered bank.
*The Annual Percentage Yields (APYs) are accurate as of 7/13/2018 and subject to change. Current APYs are: 4.00% APY on balances $0.01 up to and including $2,499.99; 1.50% APY on balances $2,500 up to and including $1,000,000; balances over $1,000,000 earn 1.00% interest rate on the portion of that balance, resulting in a range from 4.00% to 1.05% APY depending on the balance in the account. Fees may reduce earnings. Minimum balance to open the High Yield Savings Account is at least $10 in new money not currently on deposit with us. A monthly maintenance service charge of $10 will be imposed every statement cycle on the High Yield Savings Account if the High Yield Savings Account and linked checking account are not set up for eStatements, activity and/or minimum balance requirements for the checking account are not met as outlined below. To avoid the monthly maintenance service charge on the High Yield Savings, each qualification period (monthly statement cycle) you must: (1) Have a combined eStatement for your High Yield Savings and Berkshire Bank personal checking account; and; (2)Maintain a Berkshire Bank personal checking account with a minimum daily balance of $5,000; or have at least one monthly direct deposit into the checking account; and (3) Use your Berkshire Bank debit card for a minimum of 12 Point of Sale (POS) purchases from your Berkshire Bank personal checking account. Only one checking account can be linked to the High Yield Savings. In addition, the statement cycle will be end of month for both checking and savings accounts once they are linked and have combined eStatements. You need to be an Online Banking user, sign up and consent to receive eStatements prior to the end of your first statement cycle. Qualifying POS transactions are measured for items posted and settled to your checking account for the monthly period beginning the first business day of the statement cycle up to three business days prior to the last business day of the statement cycle. We use the daily balance method to calculate the interest on your account and apply a daily periodic rate to the principal in the account each day. There is no minimum balance to earn interest. Limit one account per person. You must be a primary OWNER of the qualifying checking account. Early account closure fee may apply if account is closed within 90 days of account opening. See fee schedule for applicable fees and Truth-in-Savings Disclosure.