Hanover Community Bank Rates

Rates as of 07/16/2018

Click on the specific product category for rates:

Certificate of Deposits

Account

Minimum Deposit
to Open
Minimum Daily
Balance to
Earn Interest
Rate Annual Percentage
Yield
3 Month CD $500.00 $0.01 0.15% 0.15%
6 Month CD $500.00 $0.01 0.80% 0.80%
12 Month CD
No Penalty*
 $500.00 $0.01 1.735% 1.75%
12 Month CD
Promo** 
$500.00   $0.01 2.39%  2.42% 
12 Month CD $500.00 $0.01 2.27% 2.30%
18 Month CD $500.00 $0.01 2.32% 2.35%
24 Month CD $500.00 $0.01 2.37% 2.40%
29 Month CD $500.00 $0.01 2.47% 2.50%
36 Month CD $500.00 $0.01 2.42% 2.45%
60 Month CD $500.00 $0.01 2.76% 2.80%

CDs – The Annual Percentage Yield (APY)'s are accurate as of the date displayed on the top of this page, and are subject to change without notice. The interest rates remain fixed until maturity. The minimum balance to open a Certificate of Deposit and earn the APY is $500. A penalty may be imposed for withdrawals before maturity.  *No Penalty CD will allow one principal withdrawal without penalty; all subsequent principal withdrawals maybe charged an early withdrawal penalty. Fees could reduce earnings. The Bank reserves the right to cancel or modify this offer at any time without notice. (See Our Terms and Conditions Agreement.) ** a VIP checking account with a $5,000.00 minimum balance to open & avoid a service charge is required. new money only.


Checking Products

Account Minimum Deposit
to Open
Minimum Daily
Balance to
Earn Interest

Rate Annual Percentage
Yield
NOW Personal $500.00 $500.00 0.15% 0.15%
Senior Checking $300.00 $300.00 0.15% 0.15%
NOW Business $500.00 $500.00 0.15% 0.15%
 Concierge Checking $1,000.00  $1,000.00  0.90% 0.90%

NOW Personal – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice. If your daily balance is $500.00 or more, the APY is 0.15%. Fees could reduce earnings. The Bank reserves the right to cancel or modify this offer at any time without notice.  A $5.00 monthly charge will apply if the balance falls below $500.00.  This is a variable rate product and the rate may be changed after the account is opened.

Senior Checking - The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice.  If your daily balance is $300.00 or more, the APY is 0.15%. Fees could reduce earnings.  The Bank reserves the right to cancel or modify this offer at any time without notice.  A $3.00 monthly charge will apply if the balance falls below $300.00.  This is a variable rate product and the rate may be changed after the account is opened.

NOW Business – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice.  If your daily balance is $0.01 or more, the APY is 0.15%.  Fees could reduce earnings.  The Bank reserves the right to cancel or modify this offer at any time without notice.  This is a variable rate product and the rate may be changed after the account is opened.

Concierge Checking - The annual percentage yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice.  Fees could reduce earnings. The Bank reserves the right to cancel or modify this offer at anytime without notice.  This is a variable rate product and the rate maybe changed after the account is opened. (see our terms and conditions agreement)


 

Money Market Accounts

Account Minimum Deposit
to Open
Minimum Daily
Balance to
Earn Interest
Rate Annual Percentage
Yield
VIP Personal
Money Market 
$2,500.00  $2,500.00  1.735% 1.75% 
VIP Business
Money Market 
$2,500.00  $2,500.00 1.29%  1.30% 
Personal
Money Market
$1,500.00 $1,500.00
$10,000.00
$25,000.00
$50,000.00
0.50%
0.55%
0.80%
0.85%
0.50%
0.55%
0.80%
0.85%
Business
Money Market
$5,000.00
$5,000.00
$25,000.00
$50,000.00
$100,000.00
0.15%
0.25%
0.30%
0.40%
0.15%
0.25%
0.30%
0.40%

VIP Personal Money Market – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice. The minimum balance to open and obtain APY is $2,500. The account requires the customer to maintain a Totally Free Checking account to earn the APY.

VIP Business Money Market – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice. The minimum balance to open and obtain APY is $2,500. The account requires the customer to maintain a Free Small Business Checking account to earn the APY.

Personal Money Market – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice. This is a tiered account. If your daily balance is $1,500 or more, the APY is 0.50%. If your daily balance is $10,000 or more, the APY is 0.55%. If your daily balance is $25,000 or more, the APY is 0.80%. If your daily balance is $50,000 or more, the APY is 0.85%. Fees could reduce earnings.   This is a variable rate product and the rate may be changed after the account is opened.

Business Money Market – the Annual Percentage yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice. This is a tiered account. If your daily balance is $5,000 or more, the APY is 0.15%. If your daily balance is $25,000 or more, the APY is 0.25%. If your daily balance is $50,000 or more, the APY is 0.30%. If your daily balance is $100,000 or more, the APY is 0.40%. Fees could reduce earnings.  This is a variable rate product and the rate may be changed after the account is opened.


 

Savings Products

Account Minimum Deposit
to Open
Minimum Daily
Balance to
Earn Interest
Rate Annual Percentage
Yield
Relationship Savings  $100.00 $0.01 - $250,000.99 1.24% 1.25%
 0.00% 
Savings Plus  $100.00 $0.01 - $600,000.99 1.00% 1.00%
0.00%
 Statement Savings  $100.00 $0.01 - $600,000.99 1.14%
1.15%
 0.00% 
Premium Custodian Savings  $10.00 $0.01
$10,001.00
2.00%
1.00%
2.02%
1.00%
Custodian Savings $10.00 $0.01 1.00% 1.00%
Basic Savings $100.00 $0.01 0.75% 0.75%
Business Savings $500.00 $500.00
$10,000.00
$25,000,00
0.15%
0.35%
1.00%
0.15%
0.35%
1.00%

Relationship Savings – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice. Minimum opening deposit for each account is $100.00. This is a blended rate tiered account.  Balances over $0.01 to $250,000.99 earn 1.25% APY. Balances greater than $250,001.00 earn 0.00% APY.  Fees could reduce earnings.  This is a variable rate product and the rate may be changed after the account is opened.  This account requires a linked HCB Checking account with the following monthly transaction activity:

  • a) At least one electronic direct deposit greater than $250.00 that posts and clears

OR         

  • b) Four point of sale (POS) debit card transactions post and clear

Savings Plus – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice. Minimum opening deposit for each account is $100.00. This is a blended rate tiered account.  Balances over $0.01 to $600,000.99 earn 1.00% APY. Balances greater than $600,001.00 earn 0.00% APY.  Fees could reduce earnings.  This is a variable rate product and the rate may be changed after the account is opened.

Statement Savings – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice. Minimum opening deposit for each account is $100.00. This is a blended rate tiered account.  Balances over $0.01 to $600,000.99 earn 1.15% APY. Balances greater than $600,001.00 earn 0.00% APY.  Fees could reduce earnings. Interest rate information is presented for existing customers.  The Bank is currently not accepting any new accounts.  This is a variable rate product and the rate may be changed after the account is opened.

Premium Custodian Savings – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice. Minimum opening deposit for each account is $10.00. This is a blended rate tiered account. Balances up to $10,000.99 earn an APY of 2.02%.  Balance greater than $10,001.00 earn an APY of 1.00%. Fees could reduce earnings.  This is a variable rate product and the rate may be changed after the account is opened.

Custodian Savings – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page, and is subject to change without notice. Minimum opening deposit for each account is $10.00. Balances over $0.01 earn 1.00% APY. Fees could reduce earnings.  This is a variable rate product and the rate may be changed after the account is opened.

Basic Savings – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page and is subject to change without notice. Minimum opening deposit for each account is $100.00. Balances over $0.01 earn 0.75% APY. Fees could reduce earnings.  This is a variable rate product and the rate may be changed after the account is opened.

Business Savings – The Annual Percentage Yield (APY) is accurate as of the date displayed on the top of this page.  This is a tiered account.  If your balance is $500.00 or more, the APY is 0.15%.  If your daily balance is $10,000.00 or more, the APY is 0.35%.  If your daily balance is $25,000.00 or more, the APY is 1.00%.  Fees could reduce earnings.  This is a variable rate product and the rate may be changed after the account is opened.

Call Hanover Community Bank at (516) 548-8500 for more information on our banking products and services. Branch location, hours of operation and other related information can be found on our Contact page.

Have more questions? Check out our FAQs page for additional information.