Deposit Account Rates



All deposit interest rates and Annual Percentage Yields (APY) are accurate as of today and are subject to change without notice.
Account Type
Interest Rate APY* Minimum Balance to Obtain APY
Savings Account 0.25%
0.25%
$100.00
Money Market Deposit Account
0.20%
0.20%
$100.00



*APY = Annual Percentage Yield

Interest Rate
The Interest Rate on this account is variable and may be changed after the account has been opened. Fees can reduce earnings on account.

Transfers 
Transfers from this account to another account or to third parties by preauthorized, automatic or telephone transfers are limited to six per month.

Interest 
Interest is compounded daily and paid quarterly on savings accounts. Interest is calculated on a simple basis and paid monthly for money market accounts.

Minimum Balance Requirements
  • A minimum deposit of $10.00 is required to open a savings or money market account.
  • Savings accounts require a balance of at least $10.00 for the entire calendar quarter to receive interest for that quarter.
  • Money market accounts require a balance of at least $10.00 for the entire calendar month to receive interest for that month.
  • A minimum balance of $100.00 in the account every day is required to obtain the annual percentage yield (APY).

ATM Transaction Charges
Your account will be charged the following fees for transactions processed at any non-proprietary Automated Teller Machine (ATM not owned by Watertown Savings Bank)
  • $1.00 for each withdrawal.
  • $0.50 for each transfer of funds.
  • $0.50 for each balance inquiry.
  • No charge for POS (point of sale) transactions.

All deposit interest rates and Annual Percentage Yields (APY) are accurate as of today and are subject to change without notice.
Term 
Interest Rate APY* Minimum Opening Deposit
6 month 0.30%
0.30% $500.00
1 year 0.35%
0.36% $500.00
18 month 0.45%
0.46%
$500.00
2 year 0.50% 0.51% $500.00
3 year 0.65% 0.66%  $500.00
4 year 0.75% 0.76%  $500.00
5 year 1.15% 1.17%
  $500.00 


* APY = Annual Percentage Yield 

  • 6 mo. accounts are simple interest, paid quarterly and at maturity.
  • 1 to 5-year accounts are compounded daily and credited quarterly and at maturity.
  • Auto renewal is available.
  • A penalty may be imposed for withdrawals prior to maturity and fees may reduce earnings on account.
  • Monthly income options available.
  • Interest can be credited to the account or transferred to any statement account.
  • No commissions, fees or set-up charges.

Penalties may be imposed for withdrawing prior to account maturity.

Penalties will be waived if the withdrawal is made after the death of a titled account holder or if the account holder is declared to be mentally incompetent.

All deposit interest rates and Annual Percentage Yields (APY) are accurate as of today and are subject to change without notice.
Account Type
Interest Rate APY* Minimum Balance to Obtain APY
Health Savings Account (HSA) 0.15% 0.15% up to $4,999.99

0.25%
0.25%
$5,000 - $9,999.99

0.30%
0.30%
$10,000.00 and over



*APY = Annual Percentage Yield.
 

All HSA accounts are issued as statement accounts only. The monthly statement is your record of all transactions processed to the account.

Interest Rate

The Interest Rate on this account is variable and may be changed after the account has been opened. Fees can reduce earnings on account.

Transfers

Transfers are not permitted on Health Savings Accounts.

Interest

Interest is compounded daily and paid monthly.

Minimum Balance Requirements 

  • A minimum deposit of $25.00 is required to open this account.
  • The account requires a balance of at least $10.00 for the entire month to receive interest for that month.
  • A minimum balance of $100.00 in the account every day is required to obtain the annual percentage yield (APY).

 

Click here for more information on Health Savings Accounts. 

All deposit interest rates and Annual Percentage Yields (APY) are accurate as of today and are subject to change without notice.
Account Type Interest Rate APY* Minimum Balance to Obtain APY
Vacation Club 0.25%
0.25%
$100.00
Christmas Club 0.25%
0.25%
$100.00



*APY = Annual Percentage Yield

Interest Rate
The Interest Rate on this account is variable and may be changed after the account has been opened. Fees can reduce earnings on account.

Interest
Interest is compounded daily and paid quarterly.

Minimum Balance Requirement
  • A minimum deposit of $1.00 is required to open this account. However, the deposit amount and frequency of deposits is controlled by the customer.
  • The account requires a balance of at least $10.00 for the entire calendar quarter to receive interest for that quarter.
  • A minimum balance of $100.00 in the account every day is required to obtain the annual percentage yield (APY).

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