Effective: APYs are accurate as of today

 

Personal and Business Deposit Accounts

 

Deposit Interest Rates and Annual Percentage Yields (APPYs)*

*Interest rates and Annual Percentage Yields (APYs) listed in this Rate Sheet are effective on the date shown above. Interest rate means an annual rate of interest paid on an account. APY is a percentage rate reflecting the total amount of interest paid on the account based on the interest rate and frequency of compounding. The following personal and business deposit accounts may be opened online: Checking, savings, money market and certificates of deposit for existing and new customers.

Information in this Rate Sheet may change at any time without notice. Refer to your account disclosures and fee schedule presented to you during your online application process.

 

 
Interest Bearing
Minimum Deposit
to Open and
Earn APY
Interest Rate
APY*
Lifetime Free Checking

A FREE account for everyone
  • No minimum balance
  • No monthly service charge
No
$50
0.00%
0.00%
Direct Interest Checking

Earn interest with direct deposit or automatic payment
  • Competitive interest
  • No minimum balance
  • No monthly service charge
Yes
$50
0.05%
0.05%
50+ Interest Checking

A perfect account for customers 50 and over
  • FREE standard personalized checks
  • Competitive interest
  • No minimum balance
  • No monthly service charge
Yes
$50
0.05%
0.05%

*Compounded daily, credited monthly.

 
Interest Bearing
Minimum Deposit to Open and Earn APY
Tiers
Interest Rate
APY*
Premium Interest Checking

Yes
$50
$0-$1,499.99
0.05%
0.05%
A premium account for those interested in higher interest
  • FREE standard personalized checks
  • Higher interest rate with a balance of $1,500 or more
  • Competitive interest if balance falls below $1,500
  • Only $5 monthly charge if minimum balance falls below $1,500
$1,500 and above
0.08%
0.08%

*Compounded daily, credited monthly.

Business Checking Accounts
Interest Bearing
Minimum Deposit
to Open and
Earn APY

Interest Rate
APY*
Lifetime Free Business Checking

Perfect for most businesses
  • 1,000 FREE monthly transaction items
  • No minimum balance
  • No monthly service charge
  • Up to $10,000 currency deposited per month FREE
No
$50
0.00%
0.00%

*Compounded daily, credited monthly.

 
Interest Bearing
Minimum Deposit
to Open and
Earn APY

Tiers
Interest Rate
APY*
Yes
$50
$0-$4,999.99
0.10%
0.10%
Business Interest Checking

Ideal for many businesses, including sole proprietorships and not-for-profits
  • 1,000 FREE monthly transaction items
  • Competitive interest
  • $5,000 minimum balance to avoid a low monthly fee of $5
  • Up to $10,000 currency deposited per month FREE
$5,000 and above
0.15%
0.15%

*Compounded daily, credited monthly.

To open other deposit accounts and/or participate in any promotional offers, visit one of our branches.

Money Market Accounts
Personal and Business
Interest Bearing
Minimum Deposit Center Heading
to Open and
Earn APY

Tiers
Interest Rate
APY*
Carter Money Market
Yes
$2,500

$0-$2,499.99

0.00%

0.00%

$2,500-$24,999.99

0.25%

0.25%

$25,000-$49,999.99

0.35%

0.35%

$50,000-$99,999.99

0.45%

0.45%

$100,000-$499,999.99

0.55%

0.55%

$500,000-$999,999.99

0.70%

0.70%

$1,000,000-$2,499,999.99

1.00%

1.01%

$2,500,000-$4,999,999.99

1.25%

1.26%

$5,000,000 and above

1.35%

1.36%

*Compounded daily, credited monthly. Visit one of our branches for any promotional offers.

Savings Accounts
Personal and Business
Interest Bearing
Minimum Deposit Center Heading
to Open and
Earn APY

Interest Rate
APY*
Carter Savings
Yes
$50
0.10%
0.10%

*Compounded daily, credited quarterly.

Certificate of Deposit (CD)
Personal and Business
Minimum Deposit
to Open and
Earn APY

Interest Rate
APY*

6 month

$2,500

0.65%

0.65%

1 year

$100

1.15%

1.16%

2 years

$100

1.20%

1.21%

3 years

$100

1.25%

1.26%

4 years

$100

1.30%

1.31%

5 years

$100

1.40%

1.41%

*Compounded daily, credited quarterly on anniversary date. Penalties for early withdrawals: For maturities of less than one year, a 30-day interest penalty will be assessed. For maturities of one year or more, a 90-day interest penalty will be assessed.

Additional CD terms and rates available. Visit one of our branches for more details.

Year-Round Christmas Club
Personal Only
Interest Bearing
Minimum Deposit
to Open and
Earn APY

Interest Rate
APY*
Christmas Club**
Yes
$10
1.00%
1.01%

*Compounded daily, credited quarterly.

**Maximum deposit for our Year-Round Christmas Club is $5,000 per customer. The daily balance method is used to calculate the account interest. This applies a daily periodic rate to the principal ledger balance in the account each day. If account is closed or funds withdrawn before interest is credited, interest will be forfeited. This rate is accurate from October 21, 2019, to October 20, 2020.