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Money Market, CD, IRA, Home Equity, and Consumer Loan Rates

ProgressiveNOW Checking
Money Market Account Rates
Home Equity Line of Credit
CD and IRA Rates
Consumer Loans
Selected Mortgage Rates
Business Money Market Account Rates

 

ProgressiveNOW Checking SM Account Rates
Effective as of *

 
Average Daily Balance
Annual Percentage Yield (APY)
Tier 1
$50,000.00 or more
1.75%
Tier 2
$25,000.00 - $49,999.99
1.10%
Tier 3
$10,000.00 - $24,999.99
0.70%
Tier 4
$2,500.00 - $9,999.99
0.25%
Tier 5
$0.00 - $2,499.99
0.00%


* Rates are subject to change without notice. A minimum deposit of $25.00 required to open. Check with the Bank for the most current rate information. An average daily balance of $2,500.00 is required to avoid a monthly maintenance service charge of $10.00. Any fees could reduce earnings. Retail customers only.

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Money Market Account Rates
Effective as of *

 
Average Daily Balance
Annual Percentage Yield (APY)
Tier 1
$50,000.00 or more
2.50%
Tier 2
$25,000.00 - $49,999.99
2.25%
Tier 3
$10,000.00 - $24,999.99
2.25%
Tier 4
$5,000.00 - $9,999.99
2.25%
Tier 5
$25.00 - $4,999.99
0.30%


* Rates are subject to change without notice. A minimum deposit of $25.00 required to open. Account limited to six preauthorized transfers per statement cycle, no more than three of which may be by check, debit card or similar order to third parties. Check with the Bank for the most current rate information. Any fees could reduce earnings.

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Home Equity Line of Credit
Effective as of *

Prime + 0.00 % APR** with a GSB Essential, Money Market or Now Checking Account.
Prime + 0.50% APR** without a GSB Essential, Money Market or Now Checking Account.
(Current Prime Rate is 5.00% APR as of 06/19/08)

** Annual Percentage Rate (APR) may vary monthly and is Wall Street Journal Prime plus 0.00% (or 5% as of 06/19/08) with a retail checking account. Otherwise, APR is Prime plus 0.50% (or 5.5% as of 06/19/08). Maximum APR is 18.00%. Minimum line $5,000. No closing costs, but property and hazard insurance required, plus flood insurance if applicable. Excludes expenses for unusual or extraordinary property appraisals or title issues. Penalty for early termination. Other restrictions may apply.

 

CD and IRA Rates
Effective as of *

Special rates and terms available for Certificate of Deposit (CD) and Individual Retirement Accounts (IRA's):

Term
Minimum Average Daily Balance
Annual Percentage Yield (APY)**
12 mo Standard CD
$500.00
2.35 %
12 mo Standard IRA
$500.00
2.35 %
12 mo BankingBenefitsSM CD
$500.001
$50,000.002
3.00%
12 mo BankingBenefitsSM IRA
$500.001
$50,000.002
3.00%
24 mo Standard CD
$500.00
2.55%
24 mo Standard IRA
$500.00
2.55%
24 mo BankingBenefitsSM CD
$500.001
$50,000.002
3.30%
24 mo BankingBenefitsSM IRA
$500.001
$50,000.002
3.30%
60 mo Standard CD
$500.00
3.25%
60 mo Standard IRA
$500.00
3.25%
60 mo BankingBenefitsSM CD
$500.001
$50,000.002
4.00%
60 mo BankingBenefitsSM IRA
$500.001
$50,000.002
4.00%


Other terms and rates available. Please contact a customer service representative at one of our locations for more information.

1Average daily balance of $500 required to open and obtain this Annual Percentage Yield (APY) for either: (1a) retail customers with one or more of the following relationships: Checking, Savings, Money Market, Home Equity Line of Credit, Mortgage Loan, Consumer Loan or (1b) business customers with one or more of the following relationships: Buisness Checking, Business Savings, Business MMA.

2Minimum deposit required with a single deposit of $50,000.00 or more.

* Rates are subject to change without notice. Check with the Bank for the most current rate information.

** The Annual Percentage Yield assumes interest remains on deposit until maturity and that a withdrawal will reduce earnings.

A penalty may be applied for early withdrawals.

Other rates and terms are available; please call or e-mail for details.

NOTE: E-mail is not considered a secure form of communication. Please refrain from transmitting confidential and personal information such as SSNs and account numbers. For more detailed information, please refer to our Online Banking Agreement and Disclosure

 

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Consumer Loans

We have competitive rates available for various terms. Please contact us for more information and specific rates and terms.

 

Auto Loans
Collateral Loans Contact Us
Overdraft Line of Credit
Home Equity Loans
Personal Loans Contact Us

 
 

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Selected Mortgage Rates

For the most up-to date Mortgage rates, please visit: http://gorhamsavingsbank.mortgagewebcenter.com/

 

Business Money Market Account Rates*
Effective as of *

Here is good news for your business. Our Business Money Market Account is tied to the 13-week U.S. Treasury bill auction rate*. So when market rates go up, your rate goes up, too.

Annual Percentage Yield (APY)
1.58%


* Rates are subject to change without notice. Check with the Bank for the most current rate information. The 13-Week U.S. Treasury bill auction rate is printed in the "Money Rates" section of the Wall Street Journal. APY is Annual Percentage Yield. To earn the current APY, an average daily balance of $1,000.00 is required. Minimum deposit to open account is $25.00. Account limited to six preauthorized transfers per statement cycle, no more than three of which may be by check, debit card or similar order to third parties. There is a monthly maintenance service charge of $25.00. A charge will be assessed if the account is closed within 6 months of opening. Regular account charges apply. Fees may reduce earnings on the account. Non-retail customers only.

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