Rates
Personal Deposit Rates
Effective Date: March 31, 2023
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(3) | $50 | 0.25% | 0.25% | $0.01 | |
$50 | 0.10% | 0.25%-0.13% | $25,000.00 | ||
Non-Qualifying Reward Checking | $50 | 0.01% | 0.01% | $0.01 | |
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 subject to change after the account is opened. (3) In order to qualify for the Reward interest rate, you must: Have at least 12 debit card point-of-sale transactions post and settle per qualification cycle (ATM transactions and items returned using your debit card do not count toward 12 qualifying transactions); at least one automatic payment or direct deposit post and settle; receive your Reward Checking statement electronically. Transactions may take one or more business days from the transaction date to post to account. | |||||
Type | 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% | $5,001 | |||
0.35% | 0.35% | $15,001 | |||
0.50% | 0.50% | $50,001 | |||
0.75% | 0.75% | $100,001 | |||
0.75% | 0.75% | $250,001 | |||
1.00% | 1.00% | $500,001 | |||
1.10% | 1.10% | $1,000,001 | |||
Mutual Advantage Money Market Deposit Account (3) | $1000 | 0.05% | 0.05% | $.01 | |
0.10% | 0.10% | $5,001 | |||
1.98% | 2.00% | $15,001 | |||
2.86% | 2.90% | $25,001 | |||
2.86% | 2.90% | $500,001 | |||
(1) Rates are subject to change after the account is opened. (3) $10 fee applied if account balance is below $5,000 at any point during qualification cycle. | |||||
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 | |
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 subject to 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 | |||||
CD Type | APY(5) | |
6-Month (1) | 0.15% | |
7-Month (1) | 0.55% | |
13-Month (2) | 4.10% | |
18-Month (1) | 4.10% | |
21-Month (2,3) | 4.10% | |
33-Month (1) | 3.05% | |
48-Month (1) | 0.85% | |
(1) $500 to open and $500 minimum balance to obtain APY. (2) $5000 to open and $5000 minimum balance to obtain APY. (3) $5000 in new money required to open. Money must not have been on deposit at Reliance Bank in the last 30 days. (4) $500,000 maximum deposit. (5) Fees may reduce the earnings on the account. **A penalty may be imposed for early withdrawals 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. (3) $500 minimum balance to open and $500 minimum balance to obtain APY **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: March 31, 2023
Maximum Loan Term | Interest Rate | APR | Payment Per $1,000(1) |
36 Months(2/3) | 5.500% | 5.573% | $30.20 |
48 Months(2/3) | 5.500% | 5.555% | $23.26 |
60 Months(2/3) | 5.500% | 5.545% | $19.10 |
120 Months(2/3) | 5.700% | 5.724% | $10.95 |
180 Months(2/3) | 5.900% | 5.917% | $8.38 |
240 Months(2/3) | 6.750% | 6.764% | $7.60 |
60 Month Investment | 8.240% | 8.286% | $20.39 |
(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 11, 2023 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 | 13.840% | 13.952% | $23.19 |
<700 | 60 months | 15.840% | 15.954% | $24.23 |
*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 12.00%. 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 12.00%. 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: March 31, 2023
Maximum Loan Term | Interest Rate | APR | Payment per $1,000(1) |
15-Year Fixed | 5.750% | 5.838% | $8.30 |
20-Year Fixed | 6.000% | 6.070% | $7.16 |
30-Year Fixed | 6.250% | 6.303% | $6.16 |
30-Year Freddie Mac Home Possible(2) | 6.125% | 6.178% | $6.08 |
(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 restrictions apply. Credit subject to approval. | |||
Maximum Loan Term | Interest Rate | APR | Payment per $1,000(1) |
Adjustable Rate | |||
30-Year 5/6 ARM** | 6.240% | 7.104% | $6.15 |
Fixed Rate | |||
15-Year Fixed* | 5.750% | 5.776% | $8.30 |
20-Year Fixed* | 6.000% | 6.021% | $7.16 |
30-Year Fixed* | 6.250% | 6.266% | $6.16 |
(1) Monthly payments shown do not include taxes and insurance – actual payment obligation will be greater.
**Rate is fixed for 60 months and will not increase during that period. After the initial fixed-rate period, the rate will change and will be subject to change every 6th month thereafter. Annual Percentage Rate (APR) shown above is based on a loan amount of $726,201. The actual APR will vary based upon the final loan amount, loan terms, loan to value, applicants' credit worthiness and total finance charges. Special rules and restrictions apply. Credit subject to approval. | |||
Maximum Loan Term | Interest Rate | APR | Payment per $1,000(1) |
Adjustable Rate | |||
30-Year 5/6 ARM*** | 6.500% | 7.219% | $6.32 |
Fixed Rate | |||
20-Year Fixed* | 6.750% | 6.876% | $7.60 |
30-Year Fixed* | 7.000% | 7.097% | $6.65 |
20-Year Fixed Jumbo** | 6.000% | 6.036% | $7.16 |
30-Year Fixed Jumbo** | 6.250% | 6.278% | $6.16 |
(1) Monthly payments shown do not include taxes and insurance – actual payment obligation will be greater. ***Rate is fixed for 60 months and will not increase during that period. After the initial fixed-rate period, the rate will change and will be subject to change every 6th month thereafter. Annual Percentage Rate (APR) shown above is based on a loan amount of $215,000.00. The actual APR will vary based upon the final loan amount, loan terms, loan to value, applicants' credit worthiness and total finance charges. Special rules and restrictions apply. Credit subject to approval. | |||
Special Rates
Special Rates Type | Interest Rate | APY(5) | |||
Loans | |||||
Fixed Rate Mortgages | as low as | 5.838% | |||
Equity Installment | as low as | 5.545% | |||
Deposits | |||||
Certificate of Deposit | 13-month rate (2) | 4.10% APY | |||
Certificate of Deposit | 9-month rate (1) | 3.05% APY | |||
Certificate of Deposit | 21-month rate (2,3) | 4.10% APY | |||
1) $500 to open and $500 minimum to obtain APY. 2) $5000 to open and $5000 minimum to obtain APY. 3) $5000 in new money required to open. Money must not have been on deposit at Reliance Bank in the last 30 days. 4) $500,000 maximum deposit. 5) Fees may reduce annual earnings on account. **A penalty may be imposed for early withdrawals 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. | |||||
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