You've got a savings goal in mind and we'd like to help you reach it. Whether you're saving for tuition, a nest egg or your next adventure, Colonial offers competitive interest rates on all kinds of ways to save.
Money MarketKeep your balance up and avoid an extra fee with this checking option. |
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Premium Money MarketThis is a premium choice for anyone needing to service a larger balance. |
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Statement Savings
Talk to us about your savings goals and we'll fit you with a plan to help you achieve those goals!
- $50 minimum to open
- No balance fee requirement if account stays above $300
- Balance fee waived if under 18 or over 55
- Transaction fee of $2 per paper-based withdrawal in excess of three per month
- Transaction fee of $10 per pre-authorized transfer in excess of six per month
|
Type |
Interest Rate** |
APY* (based on daily compounding) |
|
Savings Accounts ($2,499 or less) |
0.050% |
0.050% |
|
Savings Accounts ($2,500 or more) |
0.080% |
0.080% |
** Contact banking centers for more information.
Certificate of Deposit
Check out our competitive CD rates! Our financial experts are ready to help you save with the type that's best for you.
$1,000 minimum to open*
|
Type* |
Interest Rate *** |
APY* (based on monthly compounding) |
|
32 - 89 days |
0.050% |
0.050% |
|
90 - 179 days |
0.500% |
0.500% |
|
6 months |
0.750% |
0.750% |
|
11 months** |
4.750% |
4.850% |
|
12 months |
2.000% |
2.020% |
|
13 months |
2.000% |
2.020% |
|
36 months |
0.250% |
0.250% |
|
60 months |
0.300% |
0.300% |
* Substantial penalty for early withdrawal of principal from certificate of deposit accounts.
** Minimum CD deposit of $10,000. New CD deposits only; exisiting Colonial Savings deposits or accounts cannot be transferred to the Colonial Advantage CD offer. Rate is current as of January 2023.
*** Contact banking centers for more information.
Jumbo Certificate of Deposit
$100,000 minimum to open*
|
Type* |
Interest Rate *** |
APY* (based on monthly compounding) |
|
32 - 89 days |
0.050% |
0.050% |
|
90 - 179 days |
0.500% |
0.500% |
|
6 months |
0.750% |
0.750% |
|
11 months** |
4.750% |
4.850% |
|
12 months |
2.000% |
2.020% |
|
13 months |
2.000% |
2.020% |
|
36 months |
0.250% |
0.250% |
|
60 months |
0.300% |
0.300% |
* Substantial penalty for early withdrawal of principal from certificate of deposit accounts.
** Minimum Jumbo deposit of $10,000. New Jumbo deposits only; exisiting Colonial Savings deposits or accounts cannot be transferred to the Colonial Advantage Jumbo offer. Rate is current as of January 2023.
*** Contact banking centers for more information.
Individual Retirement Account (IRA) Certificate of Deposit†
An IRA can be either a traditional or Roth IRA – the main difference is when you pay taxes. A traditional IRA may allow you to take a deduction now and pay taxes later when funds are withdrawn. A Roth IRA contribution is not deductible, but may offer tax-free earnings later.
- Competitive fixed interest rate IRAs
- Variable rate IRAs that allow additions
Features
- IRAs automatically renew at rate in effect at maturity
- No annual fee
How much can I contribute?
Your total regular contribution for a taxable year is limited to the lesser of 100% of earned income or the contribution amount below:
- 2013 and after: $5,500
If you are at least 50 years old by the close of the taxable year, you may also make a $1,000 catch-up contribution. Note: Contribution limits are an aggregate of traditional and Roth IRAs.
Fixed Rate
$1,000 minimum to open
|
Term |
Interest Rate ** |
APY |
|
6 months |
0.750% |
0.750% |
|
11 months |
4.750% |
4.760% |
|
12 months |
1.000% |
1.000% |
|
13 months |
2.000% |
2.000% |
|
36 months |
0.250% |
0.250% |
|
60 months |
0.300% |
0.300% |
Variable Rate
$100 minimum to open|
Term |
Interest Rate** |
APY |
|
6 months |
0.750% |
0.750% |
|
12 months |
1.000% |
1.000% |
**Contact banking centers for more information.
† It is in your best interest to consult a tax professional to determine IRA eligibility and contribution amounts.
