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APY = Annual Percentage Yield. Rates effective as of October 1st, 2022. Fees may reduce earnings.

Checking Accounts

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 0.05% 0.05%-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 0.020% 0.020% $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  0.020% 0.020% $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 Learn More

Account Minimum Deposit to Open Minimum Daily Balance to Obtain APY Interest Rate APY
Statement Savings $1.00 $0.01 0.030% 0.030%

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 0.030% 0.030% $0.01 $50
$2,000 - $9,999.99 0.030% 0.030% $2,000 $50
$10,000 & Over 0.030% 0.030% $10,000 $50

 

Fees could reduce earnings on the account

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

Money Market Account Learn More

Tiers Interest Rate APY Minimum Daily Bal to Obtain APY Minimum Deposit to Open
Balance $0.01 - $9,999.99 0.050% 0.050% $0.01 $15
Balance $10,000 - $24,999.99 0.100% 0.100% $10,000 $15
Balance $25,000 - $49,999.99 0.100% 0.100% $25,000 $15
Balance $50,000 - $99,999.99 0.149% 0.150% $50,000 $15
Balance $100,000 - $249,999.99 0.199% 0.200% $100,000 $15
Balance $250,000 & Over 0.199% 0.200% $250,000 $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
Balance $0.01- $9,999.99 0.050% 0.050% $0.01 $25,000
Balance $10,000 - $24,999.99 0.100% 0.100% $10,000 $25,000
Balance $25,000 - $49,999.99 0.100% 0.100% $25,000 $25,000
Balance $50,000 - $99,999.99 0.149% 0.150% $50,000 $25,000
Balance $100,000 - $249,999.99 0.199% 0.200% $100,000 $25,000
Balance $250,000 & Over 0.199% 0.200% $250,000 $25,000

 

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 $0.01 - $9,999.99 0.050% 0.050% $0.01 $100
Balance $10,000 - $24,999.99 0.100% 0.100% $10,000 $100
Balance $25,000 - $49,999.99 0.100% 0.100% $25,000 $100
Balance $50,000 - $99,999.99 0.149% 0.150% $50,000 $100
Balance $100,000 - $249,999.99 0.199% 0.200% $100,000 $100
Balance $250,000 & Over 0.199% 0.200% $250,000 $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
Balance $0.01 - $9,999.99 0.050% 0.050% $0.01 $25,000
Balance $10,000 - $24,999.99 0.100% 0.100% $10,000 $25,000
Balance $25,000 - $49,999.99 0.100% 0.100% $25,000 $25,000
Balance $50,000 - $99,999.99 0.149% 0.150% $50,000 $25,000
Balance $100,000 - $249,999.99 0.199% 0.200% $100,000 $25,000
Balance $250,000 & Over 0.199% 0.200% $250,000 $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 0.15% 0.15%
182 Days 0.35% 0.35%
12 Months 0.65% 0.65%
16 Months* 1.74% 1.75%
18 Months 0.70% 0.70%
24 Months 0.70% 0.70%
30 Months 0.75% 0.75%
36 Months 0.90% 0.90%
48 Months 0.95% 0.95%
60 Months 1.00% 1.00%

 

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 0.35% 0.35%
12 Months 0.65% 0.65%
16 Months* 1.74% 1.75%
18 Months 0.70% 0.70%
24 Months 0.70% 0.70%
30 Months 0.75% 0.75%
36 Months 0.90% 0.90%
48 Months 0.95% 0.95%
60 Months 1.00% 1.00%

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 6.625% 0 6.678% 360 $6.40
20 Year 6.250% 0 6.319% 240 $7.31
15 Year 5.875% 0 5.960% 180 $8.37
10 Year 5.750% 0 5.870% 120 $10.98
HomeReady Mtg 30 year 6.625% 0 6.678% 360 $6.40

 

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: $647,200
 
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.
 

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

Matthew J Prell    NMLS ID #1749273   315-701-1061   [email protected]

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

The annual percentage rates (APR) are current as of 09/27/2022. Monthly payment examples are based on a loan
amount of $165,000.00 with a $110,000 down payment with .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

Consumer APR

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%*

*Subject to credit approval. Rates shown are the lowest APR's available. Your APR may vary and will be based on your application and credit information.

 

By way of example, on a PERSONAL UNSECURED loan for $5,000 with an annual percentage rate (APR) of 9.00% for 48 months, your monthly payment would be: $124.45. Additional terms and conditions may apply. All rates and terms are subject to change without notice.

Consumer Installment Auto Loan Learn More

 

Loan Type APR
Auto - 2020-2023 New up to 66 months 4.14%
Auto - 2020-2023 New 67 - 72 months 4.44%
Auto - 2020-2023 New 73 - 75 months 4.84%
Auto - 2020-2023 New 76 - 84 months* 5.34%
Auto - 2020-2023 Used up to 66 months 4.29%
Auto - 2020-2023 Used 67 - 72 months 4.59%
Auto - 2020-2023 Used 73 - 75 months 4.99%
Auto - 2020-2023 Used 76 - 84 months* 5.49%
Auto - 2019 up to 66 months 4.44%
Auto - 2019 67 - 72 months 4.84%
Auto - 2019 73 - 75 months 5.34%
Auto - 2017-2018 up to 66 months 4.59%
Auto - 2017-2018 67- 72 months 4.99%
Auto - 2017-2018 73 - 75 months 5.49%
Auto - 2016 up to 66 months 5.36%
Auto - 2015 up to 66 months 5.90%

 

* Minimum finance amount $25,000. Subject to credit approval. Rates shown are the lowest APRs available. Your APR may vary and will be based on your application and credit information.

 

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. Additional terms and conditions may apply. All rates and terms are subject to change without notice.

Consumer Installment Home Improvement Loan Learn More

Loan Type APR
Home Improvement Unsecured - up to 48 months 6.25%
Home Improvement Unsecured - up to 60 months 6.50%

By way of example, on a HOME IMPROVEMENT loan for $10,000 with an annual percentage rate of 6.25% for 48 months, your monthly payment would be: $236.00

Consumer Installment Motorcycle - New Loan Learn More

Loan Type APR
Motorcycle - New up to 48 months 4.14%
Motorcycle - New 49-60 months 4.14%

By way of example, on a NEW MOTORCYCLE loan for $15,000 with an annual percentage rate of 3.60% for 60 months, your monthly payment would be: $274.00

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

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 Variable Rate Line of Credit Learn More

Account Variable Rate* Variable annual Percentage Rate(APR)*
Standard Variable Rate Prime + 0% 
(6.25% minimum / 15% maximum)
6.25%
Variable Rate Introductory Special As low as Prime minus 0.50% for the first 12 months3 5.75%
  After Introductory Period, variable rate is Prime minus .25%3 6.00%

 

*Variable APRs stated are current as of 10/1/2022 and can periodically change based on Prime. See below for important information. The current Prime Rate is 6.25%

  • 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 $553.96 and $2,516.04.

3The Variable Introductory Rate is based upon The Wall Street Journal Prime Rate ("Prime") (6.25% on 10/1/2022) minus 0.50%. Prime may change at any time without notice. If Prime increases or decreases during the Introductory Period, the Introductory Rate and minimum required payment will correspondingly change. The Variable Introductory Rate reflects a rate discount of Prime minus 0.50% for customers enrolled in Direct Rewards Checking, High Interest Checking, or Emerald Checking with automatic payment at the time the Home Equity Line of Credit (HELOC) is opened. The Variable Rate Introductory Offer is applicable to all funds withdrawn from the line of credit during the 12 month Introductory Period beginning from the date the HELOC is opened. After the Variable Rate Period ends, any and all remaining balances will automatically convert to the Variable Rate of the Prime Minus 0.25%, if a Direct Rewards Checking, High Interest Checking, or Emerald Checking account with automatic payment is maintained. If Prime increases or decreases, the Variable Rate and minimum required payment will correspondingly change. Other APRs apply without a Direct Rewards Checking, High Interest Checking, or Emerald Checking account with automatic payment. APRs are variable and may change monthly, bases upon the Prime rate as published in The Wall Street Journal (6.25% on 10/1/2022), but will not exceed 15.00%. Offer is available on first and second liens with a maximum CLTV of 90% on single-family, owner-occupied residences. HELOC is a 10-year open-end draw line with interest-only monthly payments and 15-year fully amortized monthly payments of principal and interest. Offer is subject to credit approval. Property insurance and, if applicable, flood insurance are required. No closing costs for loans up to $250,000. If you cancel/close your line within 3 years you must reimburse the bank for any third party fees (ranging from $553.96 - $2,516.04) at the time of cancellation. Loans over $250,000: borrower is responsible for 1.00% mortgage tax. Consult tax advisor for tax deductibility. Rates, terms and conditions are subject to change without notice. No other discounts will apply. NMLS#463170. Member FDIC. Equal Housing Lender.

Home Equity Fixed Rate Loan Learn More

Term in months Lien Annual Percentage Rate* APR with Autopay**
36 to 60 Months First lien 4.375% 4.125%
36 to 60 Months 2nd lien 5.125% 4.875%
61 to 120 Months First lien 4.875% 4.625%
61 to 120 Months 2nd lien 5.875% 5.625%
121 to 180 Months First lien 5.375% 5.125%
121 to 180 Months 2nd lien 6.625% 6.375%

 

*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.

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

Matthew J Prell    NMLS ID #1749273   315-701-1061   [email protected] 

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

Typical loan payment examples are as follows: If you borrow $15,000, secured by a first lien for 36 months at 4.375% APR, the monthly payment would be $445.37. If you borrow $15,000, secured by a second lien for 180 months at 6.625% APR, the monthly payment would be $131.70. 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 $553.96 and $2,516.04.