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Rates

You can tell a lot by a name, but not everything. This interest-bearing account1 saves you money in more ways than one.

Key Features

  • Loan Rate Discounts
  • High Interest1
  • Refunds on ATM Withdrawal Fees3
  • No Minimum Balance Requirements
  • A checking account that earns high interest:
    • 4.00% APY1 for new Solvay Bank checking account customers on balances up to $15,000 for 12 months from account opening if account qualifications and rate tiers are met
    • 2.00% APY2 for current checking account customers on balances up to $15,000 if account qualifications and rate tiers are met
  • Lower loan rates:
    • Receive 1/8% (0.125%) discount on Residential Mortgages for certain terms when you open, maintain, and have your loan payments deducted from your High Interest Checking Account
    • Receive 1/4% (0.25%) on Home Equity Loans and Home Equity Lines of Credit when you open, maintain, and have your loan payments deducted from your High Interest Checking Account
    • Receive 1/4% (0.25%) discount on installment loans when you open, maintain, and have your loan payments deducted from your High Interest Checking Account
  • Refunds on ATM withdrawal fees, nationwide (up to $25 monthly)3
  • Avoid the $5 monthly maintenance fee with 1 electronic direct deposit of salary, pensions, or government benefits3
  • No minimum balance to earn rewards
  • Unlimited check writing
  • Free digital banking services4, including:
    • Free online banking & bill pay
    • Free mobile banking with mobile deposit
    • Free eStatements
  • Visa® debit card available
  • $15 minimum deposit to open

Reward Qualifications

To earn your rewards, just do the following transactions and activities in your account during each monthly statement cycle:

  • Be enrolled in and agree to receive eStatements
  • Have at least one direct deposit/ACH credit post and settle
  • Have at least 12 debit card purchases post and settle

And even if you don't qualify one cycle, you still have a checking account that earns our base rate.

Receive a $50 gift card5 to a local CNY restaurant when you open a High Interest Checking account!

1.Annual Percentage Yield (APY) is accurate as of 9/17/2019. 4.00% APY is for 12 months from account opening if account qualifications and rate tiers are met. If your daily balance is $15,000 or less, the interest rate will be 3.93% with an APY of 4.00%. An interest rate of 0.10% will be paid only for that portion of your daily balance that is greater than $15,000. The APY for this tier will range from 4.00% to 0.10% depending on the balance in the account. If monthly qualifications are not met, the rate will be 0.05% with a 0.05% APY on all balances. Rate may change after account is opened and after promotional period.Current checking account holders or those who have closed a checking account within the last 90 days are not eligible for this offer. Limit one new checking account per tax ID. New accounts are subject to bank account opening requirements and applicants must be residents of Cayuga, Cortland, Madison, Oneida, Onondaga and Oswego counties within New York State. Fees may reduce earnings. Promotion may end without notice. Member FDIC.

2.Annual Percentage Yield (APY) is accurate as of 9/17/2019. If your daily balance is $15,000 or less, the interest rate will be 1.98% with an APY of 2.00%. An interest rate of 0.10% will be paid only for that portion of your daily balance that is greater than $15,000. The APY for this tier will range from 2.00% to 0.10% depending on the balance in the account, If monthly qualifications are not met, the rate will be 0.05% with a 0.05% APY on all balances. Rate may change after account is opened.

3.Account holder must meet the following qualifications each statement cycle to earn rate and ATM refunds: (1) post and clear 12 debit card purchases; (2) post one electronic direct deposit; (3) receive eStatements. Intra?bank transfers and ATM transactions do not count as qualifying transactions. At least one electronic direct deposit of salary, pension, or government benefits is required each statement cycle to avoid a $5 monthly maintenance fee. Minimum deposit is $15.

4. Your standard internet, message and data rates apply when using our electronic banking services

5. $50 gift card offer applies to new High Interest Account checking relationships only. Eligible accountholders must select gift card from list of participating restaurants provided at account opening. Gift cards are issued by the participating restaurants and subject to the terms, conditions & restrictions of the issuer. Minimum deposit at account opening is $15. Current checking account holders or those who have closed an account within the last 90 days are not eligible for this offer. Limit one new checking account and gift card per tax ID. Bank rules and regulations apply. $50 gift card is subject to 1099 reporting. To qualify for the $50 gift card, direct deposit must be received within 90 days of opening the qualified checking account. A qualifying direct deposit is an electronic deposit of your salary, pensions, or government benefits such as Social Security from your employer or the government. If account is closed within 6 months of the open date, the gift card amount will be deducted from the closing balance. New checking account holder will receive $50 gift card sent to the mailing address on file, postmarked by May 31, 2022 if program requirements are met. Account must be in good standing and open at time of gift card fulfillment. Solvay Bank is not responsible for postal mail delays or delivery issues. New customers must use code GIFTCARD2021 when opening checking account to participate in this promotion. Promotion may end without notice. Terms and conditions subject to change. Solvay Bank reserves the right to substitute a gift of similar value.