Rates
Personal Deposit Rates
Annual Percentage Yield Effective Date: January 23, 2022
Checking Account Type | Minimum Balance to Open | Interest Rate(1) | APY(2) | Minimum Balance to Obtain APY | |
Simple Checking | $50 | N/A | N/A | N/A | |
Performance Checking | $50 | N/A | N/A | N/A | |
Reward Checking | $50 | 0.25% | 0.25% | $0.01 | |
$50 | 0.10% | 0.25%-0.13% | $25,000.00 | ||
Estate Checking Account | $0 | 0.20% | 0.20% | $0.01 | |
$0 | 0.25% | 0.25% | $35,000 | ||
$0 | 0.30% | 0.30% | $100,000 | ||
(1) Rates are variable and may change after the account is opened. **A penalty may be imposed for early withdrawls from Certificates of Deposit. Interest rates are subject to change without notice. Annual Percentage Yields (APY) calculations are based on a 365-day term, unless otherwise noted, and assume principal and interest remain on deposit to maturity. Fees assessed could reduce earnings on the accounts. | |||||
Minimum Balance to Open | Interest Rate (1) | APY (2) | Minimum Balance to Obtain APY | ||
Money Market Deposit Account | $500 | 0.05% | 0.05% | $50 | |
0.10% | 0.10% | $5,000 | |||
0.25% | 0.25% | $15,000 | |||
0.35% | 0.35% | $50,000 | |||
0.40% | 0.40% | $100,000 | |||
0.45% | 0.45% | $250,000 | |||
(1) Rates are variable and may change after the account is opened. **A penalty may be imposed for early withdrawls from Certificates of Deposit. Interest rates are subject to change without notice. Annual Percentage Yields (APY) calculations are based on a 365-day term, unless otherwise noted, and assume principal and interest remain on deposit to maturity. Fees assessed could reduce earnings on the accounts. | |||||
Savings Account Type | Minimum Balance to Open | Interest Rate(1) | APY(2) | Minimum Balance to Obtain APY | |
Statement Savings | $100 | 0.05% | 0.05% | $100 | |
$2500 | 0.15% | 0.15% | $2500 | ||
Club Accounts | |||||
Holiday Club(3) | $2 | 0.25% | 0.25% | $50 | |
Vacation Club(4) | $2 | 0.25% | 0.25% | $50 | |
Young Savers | $5 | 0.25% | 0.25% | $5 | |
(1) Rates are variable and may change after the account is opened. (3) Account matures the first weekend after October 3 each year; its term varies depending on when the account was opened. Penalty for early withdrawal (4) Account matures the first weekend after April 3 each year; its term varies depending on when the account was opened. Penalty for early withdrawal **A penalty may be imposed for early withdrawls from Certificates of Deposit. Interest rates are subject to change without notice. Annual Percentage Yields (APY) calculations are based on a 365-day term, unless otherwise noted, and assume principal and interest remain on deposit to maturity. Fees assessed could reduce earnings on the accounts. | |||||
CD Type | Interest Rate | APY(2) | Minimum Balance to Obtain APY | |
91 Day | 0.15% | 0.15% | $500 | |
6 Month | 0.15% | 0.15% | $500 | |
13 Month(3) | 0.40% | 0.40% | $5000 | |
15 Month | 0.20% | 0.20% | $500 | |
18 Month | 0.20% | 0.20% | $500 | |
48 Month | 0.85% | 0.85% | $500 | |
(1) Rates are variable and may change after the account is opened. (3) CD elligible for monies that have not been on deposit with Reliance Bank in the past 30 days. **A penalty may be imposed for early withdrawls from Certificates of Deposit. Interest rates are subject to change without notice. Annual Percentage Yields (APY) calculations are based on a 365-day term, unless otherwise noted, and assume principal and interest remain on deposit to maturity. Fees assessed could reduce earnings on the accounts. | ||||
Type | Interest Rate | APY(2) | Minimum Balance to Obtain APY |
18 Month Fixed Rate | 0.20% | 0.20% | $500 |
30 Month Fixed Rate | 0.40% | 0.40% | $500 |
(1) Substantial Penalty for early withdrawal. **A penalty may be imposed for early withdrawls from Certificates of Deposit. Interest rates are subject to change without notice. Annual Percentage Yields (APY) calculations are based on a 365-day term, unless otherwise noted, and assume principal and interest remain on deposit to maturity. Fees assessed could reduce earnings on the accounts. | |||
Personal Loan Rates
Annual Percentage Yield Effective Date: January 23, 2022
Maximum Loan Term | Interest Rate | APR | Payment Per $1,000(1) |
36 Months(2/3) | 2.990% | 3.143% | $30.97 |
48 Months(2/3) | 2.990% | 3.106% | $23.57 |
60 Months(2/3) | 2.990% | 3.084% | $19.13 |
120 Months(2/3) | 2.990% | 3.038% | $10.28 |
180 Months(2/3) | 3.240% | 3.275% | $7.48 |
240 Months(2/3) | 3.740% | 3.770% | $6.31 |
60 Month Investment | 5.500% | 5.553% | $19.10 |
(1)Monthly payments shown do not include taxes and insurance - actual payment obligation will be greater.
(3)Interest Rate and Annual Percentage Rate (APR) quoted are current as of January 18, 2022 and can change at any time, and require montly payments to be deducted from a Reliance Bank deposit account. Rates shown are for owner-occupied home equity financing, with a maximum Loan to Value of 89%, and are based upon a loan amount of $60,000 - the actual APR will vary based upon the final loan amount and finance charges. Credit subject to approval, and special rules and restrictions apply. (4) Loan must be secured by a non-owner occupied investment property; maximum Loan to Value of 80%. Rate reuction is not available for this product. Please contact one of our Personal Bankers for additional rates and programs. | |||
Credit Score | Loan Term | Interest Rate | APR* | Payment per $1,000 |
700+ | 60 months | 8.340% | 8.446% | $21.77 |
<700 | 60 months | 10.340% | 10.448% | $22.81 |
*Requires montly payments to be deducted from a Reliance Bank deposit account. Credit score is based on the Experian credit report received for applicant. If co-borrowers are applying, the lowest credit score will be used to determine the rate. Credit subject to approval. | ||||
Type | APR |
Personal SmartLine | 6.25% Introductory 6.25% APR fixed for three months and will not increase during that period. After the first three months, APR will be variable and may increase at any time with a maximum of 18.00%. The current fully indexed APR is 7.25%. Requires monthly payments to be deducted from a Reliance Bank deposit account. An annual $20.00 non-activity charge is assessed if you do not use your line. |
Executive Line of Credit | 4.00% Introductory 4.00% APR fixed for three months and will not increase during that period. After the first three months, APR will be variable and may increase at any time with a maximum of 18.00%. The current fully indexed APR is 7.25%. The minimum loan amount for this product is $25,000 with a minimum required $10,000 advance when you open your line. An annual $20.00 non-activity charge is assessed if you do not use your line. |
Mortgage Rates
Effective Date: January 23, 2022
Maximum Loan Term | Interest Rate | APR | Payment per $1,000(1) |
15-Year Fixed | 2.500% | 2.576% | $6.67 |
20-Year Fixed | 3.375% | 3.435% | $5.74 |
30-Year Fixed | 3.500% | 3.543% | $4.49 |
30-Year Freddie Mac Home Possible(2) | 3.500% | 3.543% | $4.49 |
(1) Monthly payments shown do not include taxes and insurance - actual payment obligation will be greater of $215,000. The actual APR will vary based upon the final loan amount, loan terms Loan-to-Value, applicant's credit worthiness and total finance charges. Special rules and restirctions apply. Credit subject to approval. | |||
Maximum Loan Term | Interest Rate | APR | Payment per $1,000(1) |
15-Year Fixed | 2.500% | 2.525% | $6.67 |
20-Year Fixed | 3.375% | 3.395% | $5.74 |
30-Year Fixed | 3.500% | 3.514% | $4.49 |
(1) Monthly payments shown do not include taxes and insurance – actual payment obligation will be greater. | |||
Maximum Loan Term | Interest Rate | APR | Payment per $1,000(1) |
15-Year Fixed* | 3.500% | 3.639% | $7.15 |
20-Year Fixed* | 4.375% | 4.486% | $6.26 |
30-Year Fixed* | 4.500% | 4.581% | $5.07 |
15-Year Fixed Jumbo** | 3.500% | 3.546% | $7.15 |
20-Year Fixed Jumbo** | 4.375% | 4.412% | $6.26 |
30-Year Fixed Jumbo** | 4.500% | 4.527% | $5.07 |
(1) Monthly payments shown do not include taxes and insurance – actual payment obligation will be greater. | |||
Special Rates
* Introductory 0.99% Annual Percentage Rate (APR) is fixed for the first three (3) months and will not increase during that period. After the first three (3) months and during the initial ten-year draw period, the rate will be variable based on the then-current Prime Lending Rate as quoted in the Wall Street Journal, with a margin of -.26% with a lifetime minimum APR of 4.00% and a maximum APR of 18.00%. The current APR without the introductory rate is 2.99%. After the ten (10) year draw period ends the rate will be fixed and will not change for the duration of the fifteen (15) year repayment period. The fixed APR during the repayment period will be based on the then-current Prime Lending Rate, as quoted in the Wall Street Journal with a margin of +2.00% and can range from a minimum APR of 4.00% and a maximum of 18.00%. The rates shown are current as of (April 21, 2021) and can change at any time, and require monthly payments to be deducted from a Reliance Bank deposit account. The minimum loan amount for this APR is $75,000, and applicants borrowing $25,000 or more must advance a minimum of $25,000 new money (money not used to refinance an existing Reliance Bank loan) when you open your line. Please ask about other rates and terms available for loan amounts less than $75,000. The borrower pays no closing costs. An Annual Assess Maintenance Fee of $35 will be due each year beginning on the first anniversary of the account opening date. Property Insurance is required. APR available for owner occupied 1st and 2nd Lien loans up to 89% Loan to Value. Credit subject to approval.
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