Savings

Savings

Put your money to work with a business savings account!

Our business savings account is an easy way to prepare for unexpected expenses, set aside tax payments, or retain earnings. You'll earn interest on your balances while maintaining full access to your funds. 

Business Statement Savings*

Put your money to work with a business savings account!

Our business savings account is an easy way to prepare for unexpected expenses, set aside tax payments, or retain earnings. You'll earn interest on your balances while maintaining full access to your funds.

  • No monthly service charges
  • Includes free access to SBD Online Banking, SBD Mobile Banking and SBD Telephone Banking
  • Transfers to and from Savings Bank of Danbury business accounts

*Minimum $10 to open. Minimum $5 balance is required to earn Annual Percentage Yield. Interest is compounded continuously and paid monthly. Transfers from a Statement Savings account to another account or to third parties by preauthorized, automatic or telephone transfer are limited to six per statement cycle with no transfers by check, draft, debit card or similar order to third parties allowed. 

Account Type Annual
Percentage
Yield
Interest Rate Interest Compounded Interest Credited Minimum Balance
Required
to Open
Minimum Balance
Required
to Open
and Earn APY
Passbook Savings .03% .03% Continuous Monthly $10.00 $5.00
Statement Savings .03% .03% Continuous Monthly $10.00 $5.00
Statement Draw .03% .03% Continuous Monthly $10.00 $5.00
Money Market Savings
$5.00 - $2,499.99 .03% .03% Continuous Monthly $50.00 $5.00
$2,500 - And Up .05% .05% Continuous Monthly $50.00 $2,500.00
Holiday Club Savings * .25% .25% N/A At Maturity $10.00 $10.00
Vacation Club Savings * .25% .25% N/A At Maturity $10.00 $10.00

Rates Effective: March 25, 2019

  • The Interest Rate and Annual percentage yield are variable and may change after the account is opened. 
  • Fees may reduce earnings
  • Rates are accurate as of the date shown above
  • Click on the link provided to see account disclosures and schedule of fees and charges
  • *  Fixed rate Account – Interest rate and APY are fixed until maturity
  • Transaction limitations apply
  • Click here to see account disclosures and service charges that may apply.

Open an Account

Open an Account
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