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Test 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 1.09% 1.10% $500 None
18 Months 1.19% 1.20% $500 None
24 Months 1.49% 1.50% $500 None
36 Months 1.54% 1.55% $500 None
48 Months 1.59% 1.60% $500 None
60 Months 1.83% 1.85% $500 None

Time Deposits – IRA’S

Product Rate APY Min. Bal Fees
6 Months 0.75% 0.75% $500 None
12 Months 1.09% 1.10% $500 None
18 Months 1.19% 1.20% $500 None
24 Months 1.49% 1.50% $500 None
36 Months 1.54% 1.55% $500 None
48 Months 1.59% 1.60% $500 None
60 Months 1.83% 1.85% $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

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

Government regulations limit activity to six (6) pre-authorized automatic or telephone transfers per month from any money market or savings account to any other account at the same bank or to a third party.

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
 

Money Market

$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
Product Rate APY Min. Bal Fees

Government regulations limit activity to six (6) pre-authorized automatic or telephone transfers per month from any money market or savings account to any other account at the same bank or to a third party.

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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

Government regulations limit activity to six (6) pre-authorized automatic or telephone transfers per month from any money market or savings account to any other account at the same bank or to a third party.

Rates effective as of February 8, 2019

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