Deposit Rates 

 

NVE Bank only opens personal accounts for persons who reside or work in New Jersey. NVE Bank only opens business accounts for businesses registered in New Jersey, with all owners of the business residing or working in New Jersey.

Checking Accounts
 Account BalanceAnnual Percentage Yield Minimum to Open Account Minimum Daily Balance to Avoid Monthly Maintenance Fee 

NOW

 

 

Less than $10.00

0.00%

$500

$1,000

$10.00 and over

0.05%

$500

$1,000

Super NOW

 

Less than $2,500

0.05%

$2,500 

$2,500 

$2,500 and over

0.08%

$2,500

$2,500

 

Savings Accounts
 Account BalanceAnnual Percentage Yield Minimum to Open Account Minimum Daily Balance to Avoid Monthly Maintenance Fee 

Statement Savings*

 

 

Less than $10.00

0.00%

$10

$300

$10.00 and over

0.07%

$10

$300

Passbook Savings 
(No Longer Offered)

 

Less than $10.00

0.00%

None

None

$10.00 and over

0.05%

None

None

Retirement Savings

 

 Less than $10.00

0.00%

$10 

None

$10.00 and over

0.07%

$10

None

Universal Savings Club

 

Less than $10.00 

0.00%

$10

None

$10.00 and over

0.07%

$10

None

Super Saver Account

 

Less than $2,500

0.07%

$2,500

$100 

$2,500 and over 

0.10%

$2,500

$100

Liquid Asset Money Market Savings*

 

Less than $15,000

0.07%

$15,000 

None 

$15,000 and over

0.10%

$15,000

None

Premier Money Market Savings

 

Less than $25,000

0.10%

$25,000 

None 

$25,000 and over 

0.15%

$25,000

None

Platinum Money Market Savings

 

 

 

$50,000 and Less

1.01%

$25,000 

$25,000 

$50,000.01 To $99,999.99

1.01% to 0.55%

$25,000

$25,000

$100,000 To $250,000

0.55% to 0.31%

$25,000

$25,000

Above $250,000

0.31% to 0.15%

$25,000

$25,000

Rates may change after account is open.
Interest is compounded daily and paid monthly. Interest payments are rounded to the nearest cent. As a result, low balance accounts may not be paid interest.
Fees could reduce earnings on any of the accounts.


† A $25 monthly maintenance fee will be assessed if the minimum daily balance falls below $25,000 on any day during the month. This account does not produce paper statements. NVE Bank online banking and acceptance of eStatements are required. Rates are not tied to any index and are set by the sole discretion of bank management. Other fees may apply. Limit one account per tax ID.

* These accounts are available to both consumers and businesses.

 

Certificate of Deposit
AccountOpening BalanceInterest RateAPYEarly Withdrawal Penalty

3 Month CD

$1,000

0.10%

0.10%

3 Months Interest

6 Month CD

$1,000

0.23%

0.23%

3 Months Interest

9 Month CD

$1,000

0.25%

0.25%

3 Months Interest

12 Month CD

$1,000

0.30%

0.30%

3 Months Interest

18 Month CD Special*

$10,000

2.37%

2.40%

6 Months Interest

24 Month CD

$1,000

0.45%

0.45%

6 Months Interest

29 Month CD Special**

$10,000

2.96%

3.00%

6 Months Interest

36 Month CD

$1,000

0.60%

0.60%

9 Months Interest

42 Month CD Special***

$10,000 

3.05% 

 3.10%

 9 Months Interest

48 Month CD

$1,000

1.39%

1.40%

9 Months Interest

60 Month CD

$1,000

1.09%

1.10%

9 Months Interest

72 Month CD

$1,000

1.19%

1.20%

9 Months Interest

* The minimum amount required to open the account is $10,000, up to a maximum of $200,000 per tax ID. Penalty for early withdrawal. Limited time offer. Available to consumers only.

** The funding of the account is limited to New Funds not currently on deposit at NVE Bank. The minimum amount required to open the account is $10,000, up to a maximum of $200,000 per tax ID. Penalty for early withdrawal. At the end of the 29-month term the CD will convert to a 24-month term. Limited time offer. Available to consumers only.

*** The minimum funds required to open the account is $10,000, up to a maximum of $200,000 per tax ID. Penalty for early withdrawal. At the end of the 42-month term the CD will convert to a 42-month term. Limited time offer. Available to consumers only.

 

IRAs and Education Savings Accounts
AccountOpening BalanceInterest RateAPYEarly Withdrawal Penalty

Retirement Savings

$10

0.07%

0.07%

None

IRA 12 Month CD

$1,000

0.30%

0.30%

3 Months Interest

IRA 14 Month CD

$1,000

0.36%

0.36%

6 Months Interest

IRA 15 Month CD

$1,000

0.38%

0.38%

6 Months Interest

IRA 24 Month CD

$1,000

0.45%

0.45%

6 Months Interest

IRA 25 Month CD

$1,000

0.50%

0.50%

6 Months Interest

IRA 30 Month CD

$1,000

0.60%

0.60%

6 Months Interest

IRA 37 Month CD

$1,000

0.60%

0.60%

9 Months Interest

IRA 48 Month CD

$1,000

1.39%

1.40%

9 Months Interest

IRA 54 Month CD

$1,000

1.98%

2.00%

9 Months Interest

IRA 60 Month CD

$1,000

2.71%

2.75%

9 Months Interest

IRA 72 Month CD

$1,000

2.96%

3.00%

9 Months Interest

Annual Percentage Yields (APY) are effective as of 12/7/2018 and are subject to change without notice. A penalty is imposed for early withdrawal. Interest payments are rounded to the nearest cent. As a result, low balance accounts may not be paid interest. Additional restrictions may apply. Fees could reduce earnings on the account.

 

 

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