Skip to content

APY = Annual Percentage Yield.  Rates effective as of July 16, 2019.  Fees may reduce earnings.

Checking Accounts

High Interest Checking Special* Learn More

Balance Interest Rate APY Minimum Daily Balance to Obtain APY Minimum Deposit to Open
up to $15,000 3.93% 4.00% $.01 $15
above $15,000 0.10% 0.10%-4.00% $.01 $15
qualifications not met 0.05% 0.05% $.01 $15

Qualifications

To qualify for the 4.00% APY and ATM fee refunds, simply do the following each monthly statement cycle:

  • Receive eStatements
  • Have at least one direct deposit post and clear
  • Have at least 12 debit card transactions post and clear
  • Current checking account holders or those who closed a checking account within the last 90 days are not eligible for this offer.

See. Unbelievably simple. And even if you don't qualify one cycle, you still have a checking account that earns our base rate of 0.05% APY.

* High Interest Checking Special: 4.00% APY on balances up to $15,000 is available for 12 months after account opening if account qualifications and rate tiers are met. Rate may change after promotional period. Promotion may end without notice 

High Interest Checking Learn More

Balance Interest Rate APY Minimum Daily Balance to Obtain APY Minimum Deposit to Open
up to $15,000 1.98% 2.00% $.01 $15
above $15,000 0.10% 0.10%-2.00% $.01 $15
qualifications not met 0.05% 0.05% $.01 $15

Qualifications

To qualify for the 2.00% APY and ATM fee refunds, simply do the following each monthly statement cycle:

  • Receive eStatements
  • Have at least one direct deposit post and clear
  • Have at least 12 debit card transactions post and clear

See. Unbelievably simple. And even if you don't qualify one cycle, you still have a checking account that earns our base rate of 0.05% APY.

Rates may change at any time after the account is open.

NOW Account Learn More

Account Interest Rate APY Minimum Daily Balance to Obtain APY Minimum Deposit to Open
NOW Account 0.030% 0.030% $0.01 $15

 

Rate may change at any time after the account is open.

NOW Non-Personal Account Learn More

Account  Interest Rate APY Minimum Daily Balance to Obtain APY Minimum Deposit to Open
NOW NON-Personal  0.030% 0.030% $0.01  $100 

 

Rate may change at any time after the account is open.

Checking Line of Credit Learn More

Account Interest Rate Minimum Line Maximum Line Annual Fee Late Payment Fee Transaction Fee
Checking Line of Credit 18.00% APR* $500.00 $2500.00 None 5% of total due, not to exceed $5.00 $5.00 per transaction

Rates are subject to change without notice

*Interest is charged from the transaction date.

Savings Accounts

Statement Savings Special Learn More

Account  Balance Interest Rate APY Minimum Daily Balance to Obtain APY Minimum Deposit to Open
Statement Savings Special up to $250,000 0.75% 0.75% $.01 $1
Statement Savings Special above $250,000 0.03% 0.03%-0.75% $.01 $1

0.75% Savings Account Disclosure:

*Annual Percentage Yield (APY) accurate as of 8/21/19. 0.75% APY applies only to new money for 12 months from account opening date if rate tiers are met. Current savings or money market account holders or those who have closed an account within the last 90 days are not eligible for this offer.  Limit one new savings account per tax ID.  Rate may change after promotional period. If your daily balance is $250,000 or less, the interest rate will be 0.75% with an APY of 0.75%. An interest rate of 0.03% will be paid only for that portion of your daily balance that is greater than $250,000. The APY for this tier will range from 0.03% to 0.75% depending on the balance in the account. Minimum deposit is $1. A $400 average daily balance is required to avoid a $4 monthly maintenance fee.  Fees may reduce earnings. Promotion may end without notice. Member FDIC.

Statement Savings Learn More

Account Minimum Deposit to Open Minimum Daily Balance to Obtain APY Interest Rate APY
Statement Savings $1.00 $0.01 0.050% 0.050%

Fees could reduce earnings on the account.

Rate may change at any time after the account is open.

HSA Accounts Learn More

Tiers Interest Rate APY Minimum Daily Balance to Obtain APY Minimum Deposit to Open
$.01-$1,999.99 0.050% 0.050% $0.01 $50
$2,000 - $9,999.99 0.050% 0.050% $2,000 $50
$10,000 & Over 0.050% 0.050% $10,000 $50

 

Fees could reduce earnings on the account

Rates may change at any time after the account is open.

Money Market Account Special Learn More

Account Minimum Deposit to Open APY*
Money Market Special $2,500 1.50% guaranteed for 12 months from account opening

 

1.50% Money Market Disclosure:

*Annual Percentage Yield (APY) accurate as of 8/21/19. 1.50% APY applies only to new account holders that deposit new money and establish a new High Interest, Emerald, or Direct Rewards checking account relationship with a $500 direct deposit each statement cycle. 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 account per tax ID. Rate is guaranteed for 12 months from account opening date if account qualifications and rate tiers are met. Rate may change after promotional period. If your daily balance is $250,000 or less, the interest rate will be 1.50% with an APY of 1.50%. An interest rate of 0.10% will be paid only for that portion of your daily balance that is greater than $250,000. The APY for this tier will range from 0.10% to 1.75% depending on the balance in the account. If a monthly direct deposit is not received in a High Interest, Emerald, or Direct Rewards checking account, the rate for this account will be 0.10% with a 0.10% APY on all balances. Minimum deposit is $2,500. A $2,500 average daily balance is required to avoid a $5 monthly maintenance fee and a $0.15 activity fee. Fees may reduce earnings. Promotion may end without notice. Member FDIC.

Money Market Account Learn More

Tiers Interest Rate APY Minimum Daily Bal to Obtain APY Minimum Deposit to Open
Balance $2,500 - $9,999.99 0.050% 0.050% $2,500 $15
Balance $10,000 - $24,999.99 0.050% 0.050% $10,000 $15
Balance $25,000 - $49,999.99 0.100% 0.100% $25,000 $15
Balance $50,000 - $99,999.99 0.100% 0.100% $50,000 $15
Balance $100,000 & Over 0.150% 0.150% $100,000 $15

 

Fees could reduce earnings on the account

Rates may change at any time after the account is open.

Money Market Advantage Learn More

Tiers Interest Rate APY Minimum Daily Balance to Obtain APY Minimum Deposit to Open
Less than $25,000 0.050% 0.050% $0.01 $25,000
Balance $25,000 - $99,999.99 0.100% 0.100% $25,000 $25,000
$100,000 & Over 0.150% 0.150% $100,000 $20,000

 

Fees could reduce earnings on the account

Rates may change at any time after the account is open.

Non-Personal Money Market Account Learn More

Tiers Interest Rate APY Minimum Daily Balance to Obtain APY Minimum Deposit to Open
Balance $2,500 - $9,999.99 0.050% 0.050% $2,500 $100
Balance $10,000 - $24,999.99 0.050% 0.050% $10,000 $100
Balance $25,000 - $49,999.99 0.100% 0.100% $25,000 $100
Balance $50,000 - $99,999.99 0.100% 0.100% $50,000 $100
Balance $100,000 & Over 0.150% 0.150% $100,000 $100

 

Fees could reduce earnings on the account

Rates may change at any time after the account is open.

Non-Personal Money Market Advantage Learn More

Tiers Interest Rate APY Minimum Daily Balance to Obtain APY Minimum Deposit to Open
Less than $25,000 0.050% 0.050% $0.01 $25,000
Balance $25,000 - $99,999.99 0.100% 0.100% $25,000 $25,000
Balance $100,000 & Over 0.150% 0.150% $100,000 $25,000

 

Rates are subject to change without notice

Interest rates may change after customer opens account

Fees could reduce earnings on the account

Certificates of Deposit

Certificates of Deposit (CDs) Learn More

Term Interest Rate APY
91 Days 0.25% 0.25%
182 Days 0.40% 0.40%
12 Months 0.65% 0.65%
16 Months* 0.65% 0.65%
18 Months 1.00% 1.00%
24 Months 0.75% 0.75%
30 Months 1.20% 1.20%
36 Months 1.24% 1.25%
48 Months 1.64% 1.65%
60 Months 1.78% 1.80%

 

Certificates of Deposit require a minimum deposit of $500.00 to open. Rates are subject to change without notice. Penalty may be imposed for early withdrawal. Fees may reduce earnings. The minimum balance needed to obtain stated APY is $500.00

*Minimum deposit to open is $2500.00. The minimum balance that must be maintained in order to receive the stated APY is $2500.00. Rates are subject to change without notice. 

IRA Certificates of Deposit Learn More

Term Interest Rate APY
182 Days 0.40% 0.40%
12 Months 0.65% 0.65%
16 Months* 0.65% 0.65%
18 Months 1.00% 1.00%
24 Months 0.75% 0.75%
30 Months 1.19% 1.20%
36 Months 1.24% 1.25%
48 Months 1.64% 1.65%
60 Months 1.79% 1.80%

IRA Certificates of Deposit require a minimum deposit of $500.00 to open. Rates are subject to change without notice. Penalty may be imposed for early withdrawal. Fees may reduce earnings. The minimum balance needed to obtain stated APY is $500.00

*Minimum deposit to open is $2500.00. The minimum balance that must be maintained in order to receive the stated APY is $2500.00. Rates are subject to change without notice. 

Mortgages

Conventional Fixed Rate Mortgage Learn More

Conventional Fixed Rate Mortgage Rates Points APR* # Payments Monthly Payment per $1,000*
30 Year 3.750% 0 3.794% 360 $4.63
20 Year 3.625% 0 3.686% 240 $5.86
15 Year 3.125% 0 3.199% 180 $6.97
10 Year 3.000% 0 3.113% 120 $9.66
HomeReady Mtg 30 year 3.750% 0 3.794% 360 $4.63

 

Purchase or Refinance: 60 day rate lock
New Construction New Build: 240 day rate lock
New Construction Draw Only: 240 day rate lock
Minimum Loan amount: $25,000; Maximum conforming amount: $484,350

Option to receive a 1/8% (0.125%) discount on the APRs listed above for terms of 10, 15 or 20 years when you have your loan payments automatically deducted from your Direct Rewards, High Interest or Emerald Checking account at Solvay Bank.

We offer a variety of mortgage options, contact the Mortgage Department at 315-484-2205 for further details.

Felix Melendez    NMLS ID #494173   315-484-2225   [email protected]

Trish DeWalt Cazzolli    NMLS ID #589621   315-701-5275   [email protected]

Christian Roque    NMLS ID #23236   315-484-2235   [email protected]

* The annual percentage rates (APR) are current as of 12/12/2019. Monthly Payment examples are based on a loan amount of $165,000.00 with a $110,000 down payment and 0 points. Interest rates are subject to change at any time without notice due to market conditions or borrower eligibility. The rates shown are based on rates for well-qualified applicants. Individual rates may vary. Monthly payment does not include property taxes or homeowners insurance. Your actual monthly payment may be greater. Mortgage Insurance is required if the loan-to-value exceeds 80%. Homeowners insurance and flood insurance, if applicable, are required. Subject to credit approval and property appraisal based on secondary market underwriting requirements.

Personal Loans

The APRs stated are discounted 0.25% for account holders having an automatic payment deduction plan from a Direct Rewards Checking, High Interest Checking and Emerald Checking accounts. Please add an additional 0.25% to the stated rate for account holders that do not have Direct Rewards Checking, High Interest Checking and Emerald Checking. Other APRs may apply.

Consumer Installment Personal Loan Learn More

Loan Type APR
Personal Secured - up to 60 months 3.00%
Personal Unsecured - up to 48 months 9.00%
Personal Unsecured - up to 60 months 9.25%

By way of example, on a PERSONAL UNSECURED loan for $5,000 with an annual percentage rate of 9.00% for 48 months, your monthly payment would be: $124.45

Consumer Installment Auto Loan Learn More

Loan Type APR
Auto - 2018-2020 up to 48 months 3.40%
Auto - 2018-2020 49 - 66 months 3.60%
Auto - 2018-2020 67 - 75 months 3.95%
Auto - 2018-2020 76 - 84 months* 5.00%
Auto - 2016-2017 up to 48 months 3.50%
Auto - 2016-2017 49 - 66 months 3.75%
Auto - 2016-2017 67 - 75 months 4.55%
Auto - 2016-2017 76 - 78 months* 5.50%
Auto - 2014-2015 up to 48 months 4.70%
Auto - 2014-2015 49 - 66 months 5.05%
Auto - 2012-2013 up to 48 months 5.60%

* Minimum finance amount $25,000.

By way of example, for a new AUTO, with a purchase price of $20,000, a 10% down payment equaling $2,000 and an annual percentage rate of 3.25% for 60 months, your monthly payment would be: $325.80.

Consumer Installment Home Improvement Loan Learn More

Loan Type APR
Home Improvement Unsecured - up to 48 months 8.00%
Home Improvement Unsecured - up to 60 months 8.25%

By way of example, on a HOME IMPROVEMENT loan for $5,000 with an annual percentage rate of 8.00% for 48 months, your monthly payment would be: $122.09

Consumer Installment Motorcycle - New Loan Learn More

Loan Type APR
Motorcycle - New up to 48 months 5.00%
Motorcycle - New 49-60 months 5.25%

By way of example, on a NEW MOTORCYCLE loan for $15,000 with an annual percentage rate of 5.25% for 60 months, your monthly payment would be: $285.69

The APR is based on the applicant(s) credit profile that is reported to Solvay Bank by an outside credit reporting agency.

Consumer Installment Boat and RV Loan Learn More

Loan Type APR
New Boats & RVs - 48 months or less 6.000%
New Boats & RVs - 49 to 66 months 6.250%
New Boats & RVs - 67 to 75 months 6.750%
New RVs - 76 months to 120 months 8.000%

By way of example, on a NEW BOAT loan for $15,000 with an annual percentage rate of 6.25% for 60 months, your monthly payment would be: $292.67

Home Equity Loans

Home Equity Fixed Rate Loan rates may be discounted 0.25% when a Direct Rewards Checking, High Interest Checking, or Emerald Checking account is opened and maintained and the payment is deducted from that account.

Home Equity Fixed Rate Loan Learn More

Term in months Lien Annual Percentage Rate* APR with Autopay**
36 to 60 Months First lien 4.000% 3.750%
36 to 60 Months 2nd lien 4.500% 4.250%
61 to 120 Months First lien 4.500% 4.250%
61 to 120 Months 2nd lien 5.000% 4.750%
121 to 180 Months First lien 4.650% 4.400%
121 to 180 Months 2nd lien 5.500% 5.250%

 

*Annual Percentage Rate (APR)

** Stated APRs reflect a rate discount of 0.25% for maintaining automatic payment from a Direct Rewards, High Interest or Emerald Checking account.  

  • Loan Limits from $15,000 to $300,000
  • Fixed Interest Rate / amortized monthly payment of principal and interest
  • No closing costs¹ for loans of $250,000 or less
  • At closing, the Borrower will be required to pay New York State Mortgage Tax of 1% on any portion of the loan which exceeds $250,000
  • Maximum available equity is up to 90% of the appraised value minus the balance of the first mortgage
  • Subject to credit approval
  • Property Insurance and, if applicable, flood insurance is required
  • Consult tax advisor for tax deductibility
  • Rates are subject to change and set based upon the current rate for the day you apply.

Typical loan payment examples are as follows: If you borrow $15,000, secured by a first lien for 36 months at 4.000% APR, the monthly payment would be $442.86. If you borrow $15,000, secured by a second lien for 180 months at 5.500% APR, the monthly payment would be $122.56. Monthly payment examples do not include property taxes or homeowners insurance. Your actual monthly payment may be higher. Additional terms and conditions may apply

¹To qualify for no closing costs, customers must maintain the Home Equity Fixed Rate Loan in good standing for 36 months. Early discharge of the Home Equity Fixed Rate Loan, for any reason within 36 months of the original note date, may require payment of closing costs at the time of cancellation. These third party fees generally total between $697.29 and $2,464.79.

Home Equity Variable Rate Line of Credit Learn More

Account Rate Current Prime Rate Annual Percentage Rate
Home Equity Variable Line of Credit Prime + 0% 
(4.75% minimum / 15% maximum)
4.75% 4.75%

 

  • Loan Limits from $15,000 to $300,000
  • No closing costs² for loans of $250,000 or less
  • At closing, the Borrower will be required to pay New York State Mortgage Tax of 1% on any portion of the loan which exceeds $250,000
  • Variable Rate / Minimum payment of monthly accrued interest
  • Maximum available equity is up to 90% of the appraised value minus the balance of the first mortgage
  • Credit line checks provided for easy access to line
  • Property Insurance and, if applicable, flood insurance is required
  • Subject to credit approval
  • Consult tax advisor for tax deductibility

Rates are variable and may adjust monthly based on changes to the Prime Rate, as published in the Wall Street Journal.

²To qualify for no closing costs, customers must maintain the Home Equity Line of Credit in good standing for 36 months. Early discharge of the Home Equity Line of Credit, for any reason within 36 months of the original note date, may require payment of third party fees at the time of cancellation. These third party fees generally total between $697.29 and $2,464.79.