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 Market*

Keep your balance up and avoid an extra fee with this checking option.

  • $2,500 minimum to open
  • $10,000 or less -- 0.05% APY
  • $10,000.01 to $25,000 -- 1.00% APY
  • Balances over $25,000 -- 0.10% APY
  • No balance requirement fee if account stays above $2,500
  • Mobile Check Deposit
  • *The interest rate and APY may change after account opening

APPLY IN PERSON

​Premium Money Market*

This is a premium choice for anyone needing to service a larger balance.

  • $25,000 minimum to open
  • $25,000 or less -- 0.05% APY
  • $25,000.01 to $75,000 -- 1.00% APY
  • Balances over $75,000 -- 1.00% APY
  • No balance requirement fee if account stays above $25,000
  • Mobile Check Deposit
  • *The interest rate and APY may change after account opening

APPLY IN PERSON

 

​Personal Edge Premium Money Market*

This is a premium choice for anyone needing to service a larger balance.

  • $25,000 minimum to open
  • $50,000 or less -- 1.00% APY
  • $50,001 to $250,000 -- 4.08% APY
  • $250,001 or over -- 5.13% APY​​
  • No balance requirement fee if account stays above $25,000
  • Mobile Check Deposit
  • *The interest rate and APY may change after account opening

APPLY IN PERSON

 

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

Type

Interest Rate**

APY* (based on daily compounding)

Savings Accounts ($2,499 or less)

0.50%

0.50%

Savings Accounts ($2,500 or more)

0.80%

0.80%


The interest rate and APY may change after account opening.
** 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

1.00%

1.00%

90 - 179 days

3.50%

3.56%

6 months

4.00%

4.07%

11 months**

5.50%

5.64%

12 months

4.25%

4.33%

13 months

4.60%

4.70%

36 months

1.75%

1.76%

60 months

1.50%

1.51%


*Promotional Certificate of Deposit products do not qualify for rate bump. Substantial penalty for early withdrawal of principal from Certificate of Deposit accounts.
** Minimum CD deposit of $10,000. New CD deposits only; existing Colonial Savings deposits or accounts cannot be transferred to the Colonial Advantage CD offer. Rate is current as of January 2024.
*** 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

1.00%

1.00%

90 - 179 days

3.50%

3.56%

6 months

4.00%

4.07%

11 months**

5.50%

5.64%

12 months

4.25%

4.33%

13 months

4.60%

4.70%

36 months

1.75%

1.76%

60 months

1.50%

1.51%


*Promotional Certificate of Deposit products do not qualify for rate bump. Substantial penalty for early withdrawal of principal from certificate of deposit accounts.
** Minimum Jumbo deposit of $100,000. 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 2024.
*** 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:

  • 2023 and after: $6,500

If you are at least 50 years old by the close of the taxable year, you may make a $7,500 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​

3.50%

3.53%

11 months

5.25%

5.26%

12 months

4.25%

4.25%

13 months

4.60%

4.60%

36 months

1.75%

1.75%

60 months

1.50%

1.50%

 

Variable Rate*

$100 minimum to open

Term​​

Interest Rate**

APY

6 months

1.50%

1.51%

12 months​

4.00%

4.00%


*The interest rate and APY may change after account opening.
**Contact banking centers for more information.

 It is in your best interest to consult a tax professional to determine IRA eligibility and contribution amounts.​
APY = Annual Percentage Yield