Deposit Rates
| CD & IRA Deposit Rates and Annual Yields | |||||
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Time Deposits
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| Product | Rate | APY | Min. Bal | Fees | |
| 6 Months | 0.75% | 0.75% | $500 | None | |
| 12 Months | 1.00% | 1.01% | $500 | None | |
| 18 Months | 1.10% | 1.11% | $500 | None | |
| 24 Months | 1.15% | 1.16% | $500 | None | |
| 36 Months | 1.20% | 1.21% | $500 | None | |
| 48 Months | 1.25% | 1.26% | $500 | None | |
| 60 Months | 1.33% | 1.34% | $500 | None | |
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Time Deposits – IRA’S |
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| Product | Rate | APY | Min. Bal | Fees | |
| 6 Months | 0.75% | 0.75% | $500 | None | |
| 12 Months | 1.00% | 1.01% | $500 | None | |
| 18 Months | 1.10% | 1.11% | $500 | None | |
| 24 Months | 1.15% | 1.16% | $500 | None | |
| 36 Months | 1.20% | 1.21% | $500 | None | |
| 48 Months | 1.25% | 1.26% | $500 | None | |
| 60 Months | 1.33% | 1.34% | $500 | None | |
| Savings Accounts Rates and Annual Yields | |||||
|---|---|---|---|---|---|
| Product | Rate | APY | Min. Bal | Fees | |
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| Passbook Savings | 0.45% | 0.45% | $100 | $7.00 if below $100 | |
| Statement Savings | 0.45% | 0.45% | $100 | $7.00 if below $100 | |
| Holiday Club | 0.45% | 0.45% | None | None | |
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Business Money Market |
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| $2,500 – $9,999.99 | 0.30% | 0.30% | $2,500 | $7.00 if below $2,500 | |
| $10,000 and higher | 0.35% | 0.35% | $10,000 | None if over $2,500 | |
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Business Savings |
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| Product | Rate | APY | Min. Bal | Fees | |
| Statement Savings | 0.45% | 0.45% | $500 | $7.00 if below $500 | |
| Checking Accounts Rates and Annual Yields | |||||
|---|---|---|---|---|---|
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Platinum Now
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| Product | Rate | APY | Min. Bal | Fees | |
| $1,000 – $9,999.99 | 0.30% | 0.30% | $1,000 | $7.00 if below $1,000 | |
| $10,000 – $49,999.99 | 0.35% | 0.35% | $10,000 | None if over $1,000 | |
| $50,000 – $499,999.99 | 0.45% | 0.45% | $50,000 | None if over $1,000 | |
| $500,000 and higher | 0.45% | 0.45% | $500,000 | None if over $1,000 | |
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Business Accounts |
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| Parke Business Checking | 0.00% | 0.00% | None | None | |
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Other Checking |
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| NJ Consumer Checking | 0.00% | 0.00% | None* | $3.00 monthly fee | |
| Platinum NOW | 0.30% | 0.30% | $1,000 | $7.00 if below $1,000 | |
| Non-Interest Checking | 0.00% | 0.00% | $100 | $7.00 if below $100 | |
| Parke 55 Plus | 0.35% | 0.35% | None | None | |
| Parke Platinum Plus | 0.45% | 0.45% | $1,000 | $10.00 if below $100 | |
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Money Market |
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| Product | Rate | APY | Min. Bal | Fees | |
| $1,000 – $2,499.99 | 0.30% | 0.30% | $1,000 | $7.00 if below $1,000 | |
| $2,500 and higher | 0.35% | 0.35% | $2,500 | None if over $1,000 | |
Interest rates may vary for deposit accounts other than time deposits, non-interest checking and business checking.
NOTES:
*Requires $50.00 opening deposit
APY=Annual Percentage Yield – Fees may reduce earnings
$.01 is required to obtain the APY and minimum deposit of $1.00 is required to open the account
All rates are subjects to change without notice. Substantial penalty for early withdrawal on Time Deposits.
For CD’s, a $500. minimum balance is required to maintain advertised APY and to open the account.
IRA’s – Time Deposit IRS penalty may apply for early withdrawal. See IRA Plan Agreement for further details.
Contact a representative for additional time deposits offered
Rates effective as of April 24, 2020
Quick Links
The Federal Deposit Insurance Corporation (FDIC) has permanently increased deposit insurance on all accounts to $250,000 per depositor.
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Parke Bank Routing Number: 031207814
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