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Savings & Retirement Accounts

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Danversbank offers a variety of savings products, including Statement or Passbook Savings; Money Market Accounts; Certificates of Deposit (CDs) and Individual Retirement Accounts (IRAs). All of our personal savings products:

• Earn interest on the daily collected balance
Are insured in full by the FDIC and the DIF
• Can be accessed at no additional charge through Online Banking (with the exception of passbook savings)

DBK Online Savings
• Annual Percentage Yield (APY): 3.00%1,3,5, 6
• $1.00 minimum to open, $.01 minimum balance to earn APY
• Danversbank ATM card
• Manage with Online or Telephone Banking
• Loan rate reduction of 0.25% with auto-debit of payment
• Initial funding limited to $10,000 by credit card and $25,000 by ACH (additional deposits can be made upon maturity)
 
Get started with a DBK Online Savings Account Today
 
DBK Online Certificate of Deposit (CD)
• Annual Percentage Yield (APY): 3.30%2,3,4, 6
• Term: 4 months
• $500 minimum to open, $.01 minimum balance to earn APY
• Check balance through Online or Telephone Banking
• Initial funding limited to $10,000 by credit card and $25,000 by ACH (additional deposits can be made upon maturity)
 
Get started with a DBK Online Certificate of Deposit (CD) Today

Statement Savings
• $1.00 minimum to open
• Danversbank ATM card
• Accessible through Online or Telephone Banking
• Loan rate reduction of 0.25% with auto-debit of payment

View Rate Sheet

Money Market
• $1,000 minimum to open
• Tiered interest rates
• Danversbank Debit MasterCard
• Accessible through Online or Telephone Banking

View Rate Sheet

Index Market Account
• $100 minimum to open
• Tiered, variable interest rates, tied to the previous month's average
   91-day Treasury Bill rate
• Danversbank Debit MasterCard
• Accessible through Online or Telephone Banking

View Rate Sheet

Certificates of Deposit (CDs)
• $500 minimum to open
• Terms ranging from 91 days to 5 years
• Competitive rates

• Accessible through Online or Telephone Banking

View Rate Sheet

 Money Market Individual Retirement Account (IRA)
• $25 minimum to open
• Flexibility of contributions
• Tiered, variable interest rates
• Accessible through Online or Telephone Banking

View Rate Sheet

Which savings product would suit you best depends on your short- and long-term financial goals; if you need help finding the right fit, contact a Danversbank Customer Support Representative at 800-771-8200.

1 DBK Online Savings interest rate is 2.96%, with an Annual Percentage Yield of 3.00%,
2 DBK Online Certificate interest rate is 3.25%, with an Annual Percentage Yield of 3.30%,
3 Fees and withdrawals could reduce earnings on accounts
4 A penalty may be imposed for early withdrawal from a CD account
5 Variable rate account , rates may change at any time
6 Rates are accurate as of September 22, 2008.

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