In celebration of its 125th Anniversary, Federal Savings Bank (FSB) is offering two Specials: a 5-year CD (2.50% APY) and a Milestone Money Market Account (1.25% APY).
|2.00%||$1k||-||Federal Savings Bank||5 Year CD|
|2.00%||$1k||-||Federal Savings Bank||5 Year IRA|
|0.85*%||$75k||-||Federal Savings Bank||Milestone Money Market Account Special|
|OTHER TIERS: 0.10% → $1k - $75k|
The minimum opening deposit for the 5-year CD is $1K, with no maximum balance cap. The 5-year CD is also as an IRA (Traditional) at the same APY, with the same funding requirements.
The very helpful CSR stated that the Early Withdrawal Penalty on the 5-year CD is one year’s interest. She also mentioned that rates at FSB customarily change on Wednesday (these were announced yesterday), and she didn’t expect the Anniversary Specials to last long.
The Milestone Money Market Account (MMA) requires a minimum deposit of $75K. According to the fine print on Federal Savings Bank’s promo page,
For existing Federal Savings Bank customers, $25,000 of the total $75,000 minimum balance requirement must consist of new, non-FSB deposits in order to obtain the stated APY.
If the Milestone MMA balance should fall below $75K, the rate will automatically default to 0.10% APY.
Headquartered in Dover, New Hampshire, Federal Savings Bank is a community-based bank, with a market area covering New Hampshire’s Seacoast Region.
Opening either the 125th Anniversary Special 5-year CD or Milestone Money Market Account requires an in-person visit to any of five New Hampshire branches located in Barrington, Dover, Durham, Portsmouth, and Rochester.
Federal Savings Bank has an overall health rating of "A" at DepositAccounts.com, with a Texas Ratio of 1.09% (excellent), based on March 31, 2015 data. In the past year, Federal Savings Bank has increased its total deposits by $697K, an above average annual growth rate of 0.37%. Please refer to our financial overview of Federal Savings Bank for more details.
Federal Savings Bank (FDIC Certificate # 29744) was originally established in 1890 as the Dover Co-operative Savings Fund and Loan Association. More commonly known as Dover Co-operative Bank, the Bank maintained its original branch location for more than 65 years before constructing its present main office in 1972. The name was changed to Federal Savings Bank in 1983 to better reflect the customer base expansion beyond the Dover area. Today, Federal Savings Bank is New Hampshire’s 14th largest bank with assets in excess of $299 Million.
How the CD Compares
When compared to the 150 similar length-of-term CDs tracked by DepositAccounts.com, requiring a similar minimum deposit and available to New Hampshire residents, Federal Saving Bank’s 5-Year CD currently heads the list.
How the Money Market Account Compares
When compared to the 157 Money Market Accounts tracked by DepositAccounts.com available to New Hampshire residents, Federal Savings Bank’s Milestone Money Market Account’s APY currently ranks first, regardless of minimum deposit requirement.
The above rates are accurate as of 8/13/2015.
To search for nationwide CD rates and CD rates in your state, please refer to the CD rates section of DepositAccounts.com.
To search for nationwide Money Market rates and Money Market rates in your state, please refer to the Money Market rates section of DepositAccounts.com.