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Savings Accounts

Savings Accounts

Choose from various accounts tailored to meet your savings needs and help you reach your financial goals.

Whether you're creating a financial cushion, saving for the holidays or planning a memorable vacation, Savings Bank of Danbury offers an assortment of savings account options that are right for you. Our competitive rates allow you to grow your money steadily while maintaining easy access. 

Overview

Statement Savings

  • No monthly service charges
  • Includes free access to SBD Online Banking, SBD Mobile Banking and SBD Telephone Banking 

Statement Draw

  • Links to your Savings Bank of Danbury checking account to provide overdraft protection
  • Provides peace of mind and allows you to avoid costly overdraft fees

Holiday Club

  • Easily save for the holidays with weekly payroll deductions or automatic transfers. You can set up the amount deposited that fits your needs.
  • Account matures in October to allow plenty of time for holiday purchases

Vacation Club

  • Save for that special vacation with weekly payroll deductions or automatic transfers.  You can set up the amount deposited that fits your needs.
  • Account matures in April
     

For more information click here for account disclosures.

Money Market Savings

When you're looking for the ideal deposit account to grow your money, our Money Market Savings* account provides the solution. This account can earn higher interest than other savings deposit accounts, depending on your account balance, with the convenience of a passbook..

  • Maintain a $2,500 minimum balance to benefit from a higher interest rate
  • The larger your account balance, the more you earn with this tiered, interest-bearing account 

*Minimum $50 to open. If average daily balance falls below $2,500, a $5 monthly service fee is charged. 

                         For more information click here for account disclosures.

Account Type Interest Rate Annual
Percentage
Yield
Interest Compounded Interest Credited Minimum Balance
Required
to Open
Minimum Balance
Required
to 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 as of: March 03, 2024

  • 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 

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