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Deposit Rates

 

CD & IRA Deposit Rates and Annual Yields
Time Deposits
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

Time Deposits – IRA’S

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  

 
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  

Business Money Market

$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  
 

Business Savings

Product Rate APY Min. Bal Fees  
Statement Savings 0.45% 0.45% $500 $7.00 if below $500  

 

Checking Accounts Rates and Annual Yields
Platinum Now
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  

Business Accounts

 
Parke Business Checking 0.00% 0.00% None None  
 

Other Checking

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  

Money Market

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

The Federal Deposit Insurance Corporation (FDIC) has permanently increased deposit insurance on all accounts to $250,000 per depositor.

Parke Bank Routing Number: 031207814