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The State Bank of Cherry

Locally Owned and Operated
Current Rates Page Title   e-Mail Link - Do not include any account or personal information when sending e-mail to SBC.
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Savings Rates (effective October 1, 2014)
 
Account Type Interest Rate Annual
Percentage
Yield
Minimum
Deposit to
Open Account
Minimum
Balance**
to Obtain APY
Certificate of deposit        
7 - 31 Days .10% .10% $1,000.00 $1,000.00
32 - 179 Days .10% .10% $1,000.00 $1,000.00
5 months .10% .10% $1,000.00 $1,000.00
180 - 364 Days .20% .20% $1,000.00 $1,000.00
7 months .20% .20% $1,000.00 $1,000.00
9 months .20% .20% $1,000.00 $1,000.00
10 months .25% .25% $1,000.00 $1,000.00
11 months  .30%  .30% $1,000.00 $1,000.00
1 year  .30%  .30% $1,000.00 $1,000.00
13 months  .30%  .30% $1,000.00 $1,000.00
14 months .30% .30% $1,000.00 $1,000.00
15 months .30% .30% $1,000.00 $1,000.00
16 months .30% .30% $1,000.00 $1,000.00
17 months .35% .35% $1,000.00 $1,000.00
1 years .35% .35% $1,000.00 $1,000.00
19 months .35% .35% $1,000.00 $1,000.00
20 months .35% .35% $1,000.00 $1,000.00
23 months .40% .40% $1,000.00 $1,000.00
2 years .45% .45% $1,000.00 $1,000.00
25 months .45% .45% $1,000.00 $1,000.00
2 years .50% .50% $1,000.00 $1,000.00
3 years .55% .55% $1,000.00 $1,000.00
40 months .65% .65% $1,000.00 $1,000.00
4 years .75% .75% $1,000.00 $1,000.00
5 years 1.10% 1.10% $1,000.00 $1,000.00
Average rate-        
12 month stepped rate .43% .43% $1,000.00 $1,000.00

Substantial penalty for deposits withdrawn before the maturity date. The Annual Percentage Yields listed above are calculated on certificates compounding quarterly.  However n certain circumstances a certificate could possibly compound monthly, quarterly, semi-annually or annually.  Annual percentage yield assumes interest will remain on deposit until maturity.  A withdrawal will reduce earnings.  Contact any employee for further information


Account Type Interest Rate Annual
Percentage
Yield
Minimum
Deposit to
Open Account
Minimum
Balance**
to Obtain APY
Variable Rate Accounts        
Demand Deposit        
*NOW Accounts .05% .05% $100.00 any amount
*Money Market Accounts .15% .15% $100.00 any amount
*Interest Compounds Monthly
Savings Accounts        
Passbook Savings .15% .15% $50.00 any amount
*Interest Compounds Quarterly
Monthly Variable Rate IRA        
Passbook IRA .50% .50% $50.00 any amount
*Interest Compounds daily - paid annually
18 Month IRA CD .50% .50% $1,000 $1,000
Interest Compounds Quarterly
HSA Accounts .05% .05% $100 any amount

**Daily Balance  (The amount of principal in the account each day.)
Other loan rates are available upon request, we encourage you to call us.                                             Your business is appreciated.
*The rate may change after the account is opened.
*Fees could reduce the earnings on the account.