Deposit rates

Deposit Rates

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All rates current as of: October 18, 2019 and are subject to change at Andover Bank's discretion. Rates for balances up to $250,000.00. For larger amounts please contact us at (844) 259-5473.



Personal Checking Rates

Account Rate APY Minimum Balance Notes
Affinity Checking **** 1.98% 2.00% **$0.01 -
  0.05% 0.05% **$10,000.01 -
Rewards Checking ** 0.05% 0.05% N/A -
Interest Checking ** 0.025% 0.025% N/A -

Personal Savings Rates

Account Rate APY Minimum Balance Notes
Statement Savings* 0.05% 0.05% N/A Compounds quarterly
Smart Saver 0.05% First 90 Days
0.05% After 90 Days
0.05% First 90 Days
0.05% After 90 Days
$0.01 - 9,999.99 Withdrawal limits applyt
  1.34% First 90 Days
0.50% After 90 Days
1.35% First 90 Days
0.50% After 90 Days
$10,000.00 - 49,999.99 See above
  1.34% First 90 Days
0.75% After 90 Days
1.35% First 90 Days
0.75% After 90 Days
$50,000.00 - 99,999.99 See above
  1.34% First 90 Days
1.00% After 90 Days
1.35% First 90 Days
1.00% After 90 Days
$100,000.00 + See above
Companion Savings *** 0.05% 0.05% **$0.01 -
  1.05% 1.05% **$2,500.00 With 12 debit card transactions over $10.00 posted to account if doesn't qualify rate 0.05
  0.05% 0.05% **$10,000.01 -
Preferred Money Market Account 0.05% 0.05% **$0.01 Compounds Monthly
  0.10% 0.10% **$10,000.00 See above
  0.15% 0.15% **$25,000.00 See above
  0.20% 0.20% **$50,000.00 See above
  0.25% 0.25% **$100,000.00 See above
Christmas Club * 0.05% 0.05% N/A Compounds quarterly
Health Savings Account 0.05% 0.05% **$0.01 Compounds monthly
  0.10% 0.10% **$1,000.00 See above
  0.15% 0.15% **$5,000.00 See above
  0.20% 0.20% **$10,000.00 See above

Certificate of Deposit Rates

All Andover Bank Certificate of Deposits require a minimum deposit of $1,000.00 with a maximum of $250,000.00.

Term Rate APY Additional Notes
30 Day CD** 0.10% 0.10% -
91 Day CD* 0.10% 0.10% -
182 Day CD* 0.15% 0.15% -
10 Month CD 1.74% 1.75% With $10,000.00 new money
10 Month CD 1.54% 1.55% With less than $10,000.00 new money
12 Month CD* 0.20% 0.20% -
14 Month CD* 0.20% 0.20% -
18 Month CD* 1.64% 1.65% With $10,000.00 new money
18 Month CD* 1.44% 1.45% With less than $10,000.00 new money
23 Month CD 1.54% 1.55% With $10,000.00 new money
23 Month CD 1.34% 1.35% With less than $10,000.00 new money
24 Month CD* 0.30% 0.30% -
30 Month CD* 0.35% 0.35% -
35 Month CD 1.24% 1.25% With $10,000.00 new money
35 Month CD 1.05% 1.05% With less than $10,000.00 new money
36 Month CD* 0.40% 0.40% -
48 Month CD* 0.60% 0.60% -
54 Month CD* 1.00% 1.00% -
60 Month CD* 1.00% 1.00% -

Fixed Rate IRA

All Andover Bank IRAs require a minimum deposit of $1,000.00 with a maximum of $250,000.00.

Term Rate APY Notes
10 Month IRA 1.74% 1.75% With $10,000.00 new money
10 Month IRA 1.54% 1.55% With less than $10,000.00 new money
18 Month IRA 1.64% 1.65% With $10,000.00 new money
18 Month IRA 1.44% 1.45% With less than $10,000.00 new money
23 Month IRA 1.54% 1.55% With $10,000.00 new money
23 Month IRA 1.34% 1.35% With less than $10,000.00 new money
30 Month Fixed IRA* 0.35% 0.35% -
35 Month IRA 1.24% 1.25% With $10,000.00 new money
35 Month IRA 1.05% 1.05% With less than $10,000.00 new money
60 Month Fixed IRA* 1.00% 1.00% -

Variable Rate IRA

Term Rate APY Minimum Balance Notes
- 0.05% 0.05% *$.01  
- 0.10% 0.10% *$1,000.00  
- 0.15% 0.15% *$5,000.00  
- 0.20% 0.20% *$10,000.00  

Business Checking Rates

Account Rate APY Minimum Balance Notes
Commercial Interest Checking 0.025% 0.025% **$10,000.00 -
  0.025% 0.025% **$25,000.00 -
  0.025% 0.025% **$50,000.00 -

Business Savings Rates

Account Rate APY Minimum Balance Notes
Statement Savings* 0.05% 0.05% N/A Compounds quarterly
Business Money Market 0.30% 0.30% **$0.01 Compounds Monthly
  1.14% 1.15% **$50,000.00 See above
  0.75% 0.75% **$500,000.00 See above
  0.40% 0.40% **$1,000,000.00 See above

For additional deposit products and rates, contact us at (844) 259-5473.

APY = Annual Percentage Yield

  • *Quarterly Compounding   
    ** Effective for new accounts as of 1/4/18 Monthly Compounding 
    ***Can only get with Rewards Checking, 12 debit card transactions of $10.00 or more posted during statement cycle
    **** 12 debit card transactions of $10.00 or more posted during statement cycle. If the requirement is not met the base Rate and APY is 0.05%
  • Penalty for Early Withdrawal
  • Fees May Reduce Earnings
  • Member FDIC
  • tIf you exceed 6 withdrawals per month, there will be a $5.00 fee for each additional withdrawal. If the current balance falls below $1,000.00 at any time, there will be a $10.00 monthly service charge.

Got Additional Questions?

If you have questions about any of our deposit or loan programs, feel free to get in touch. We'll be happy to talk with you further and help you select the product that's right for your financial needs.

Get in Touch


All rates current as of: October 18, 2019 and are subject to change at Andover Bank's discretion. Rates for balances up to $250,000.00. For larger amounts please contact us at (844) 259-5473.



Personal Checking Rates

Account Rate APY Minimum Balance Notes
Affinity Checking **** 1.98% 2.00% **$0.01 -
  0.05% 0.05% **$10,000.01 -
Rewards Checking ** 0.05% 0.05% N/A -
Interest Checking ** 0.025% 0.025% N/A -

Personal Savings Rates

Account Rate APY Minimum Balance Notes
Statement Savings* 0.05% 0.05% N/A Compounds quarterly
Smart Saver 0.05% First 90 Days
0.05% After 90 Days
0.05% First 90 Days
0.05% After 90 Days
$0.01 - 9,999.99 Withdrawal limits applyt
  1.34% First 90 Days
0.50% After 90 Days
1.35% First 90 Days
0.50% After 90 Days
$10,000.00 - 49,999.99 See above
  1.34% First 90 Days
0.75% After 90 Days
1.35% First 90 Days
0.75% After 90 Days
$50,000.00 - 99,999.99 See above
  1.34% First 90 Days
1.00% After 90 Days
1.35% First 90 Days
1.00% After 90 Days
$100,000.00 + See above
Companion Savings *** 0.05% 0.05% **$0.01 -
  1.05% 1.05% **$2,500.00 With 12 debit card transactions over $10.00 posted to account if doesn't qualify rate 0.05
  0.05% 0.05% **$10,000.01 -
Preferred Money Market Account 0.05% 0.05% **$0.01 Compounds Monthly
  0.10% 0.10% **$10,000.00 See above
  0.15% 0.15% **$25,000.00 See above
  0.20% 0.20% **$50,000.00 See above
  0.25% 0.25% **$100,000.00 See above
Christmas Club * 0.05% 0.05% N/A Compounds quarterly
Health Savings Account 0.05% 0.05% **$0.01 Compounds monthly
  0.10% 0.10% **$1,000.00 See above
  0.15% 0.15% **$5,000.00 See above
  0.20% 0.20% **$10,000.00 See above

Certificate of Deposit Rates

All Andover Bank Certificate of Deposits require a minimum deposit of $1,000.00 with a maximum of $250,000.00.

Term Rate APY Additional Notes
30 Day CD** 0.10% 0.10% -
91 Day CD* 0.10% 0.10% -
182 Day CD* 0.15% 0.15% -
10 Month CD 1.74% 1.75% With $10,000.00 new money
10 Month CD 1.54% 1.55% With less than $10,000.00 new money
12 Month CD* 0.20% 0.20% -
14 Month CD* 0.20% 0.20% -
18 Month CD* 1.64% 1.65% With $10,000.00 new money
18 Month CD* 1.44% 1.45% With less than $10,000.00 new money
23 Month CD 1.54% 1.55% With $10,000.00 new money
23 Month CD 1.34% 1.35% With less than $10,000.00 new money
24 Month CD* 0.30% 0.30% -
30 Month CD* 0.35% 0.35% -
35 Month CD 1.24% 1.25% With $10,000.00 new money
35 Month CD 1.05% 1.05% With less than $10,000.00 new money
36 Month CD* 0.40% 0.40% -
48 Month CD* 0.60% 0.60% -
54 Month CD* 1.00% 1.00% -
60 Month CD* 1.00% 1.00% -

Fixed Rate IRA

All Andover Bank IRAs require a minimum deposit of $1,000.00 with a maximum of $250,000.00.

Term Rate APY Notes
10 Month IRA 1.74% 1.75% With $10,000.00 new money
10 Month IRA 1.54% 1.55% With less than $10,000.00 new money
18 Month IRA 1.64% 1.65% With $10,000.00 new money
18 Month IRA 1.44% 1.45% With less than $10,000.00 new money
23 Month IRA 1.54% 1.55% With $10,000.00 new money
23 Month IRA 1.34% 1.35% With less than $10,000.00 new money
30 Month Fixed IRA* 0.35% 0.35% -
35 Month IRA 1.24% 1.25% With $10,000.00 new money
35 Month IRA 1.05% 1.05% With less than $10,000.00 new money
60 Month Fixed IRA* 1.00% 1.00% -

Variable Rate IRA

Term Rate APY Minimum Balance Notes
- 0.05% 0.05% *$.01  
- 0.10% 0.10% *$1,000.00  
- 0.15% 0.15% *$5,000.00  
- 0.20% 0.20% *$10,000.00  

Business Checking Rates

Account Rate APY Minimum Balance Notes
Commercial Interest Checking 0.025% 0.025% **$10,000.00 -
  0.025% 0.025% **$25,000.00 -
  0.025% 0.025% **$50,000.00 -

Business Savings Rates

Account Rate APY Minimum Balance Notes
Statement Savings* 0.05% 0.05% N/A Compounds quarterly
Business Money Market 0.30% 0.30% **$0.01 Compounds Monthly
  1.14% 1.15% **$50,000.00 See above
  0.75% 0.75% **$500,000.00 See above
  0.40% 0.40% **$1,000,000.00 See above

For additional deposit products and rates, contact us at (844) 259-5473.

APY = Annual Percentage Yield

  • *Quarterly Compounding   
    ** Effective for new accounts as of 1/4/18 Monthly Compounding 
    ***Can only get with Rewards Checking, 12 debit card transactions of $10.00 or more posted during statement cycle
    **** 12 debit card transactions of $10.00 or more posted during statement cycle. If the requirement is not met the base Rate and APY is 0.05%
  • Penalty for Early Withdrawal
  • Fees May Reduce Earnings
  • Member FDIC
  • tIf you exceed 6 withdrawals per month, there will be a $5.00 fee for each additional withdrawal. If the current balance falls below $1,000.00 at any time, there will be a $10.00 monthly service charge.

Got Additional Questions?

If you have questions about any of our deposit or loan programs, feel free to get in touch. We'll be happy to talk with you further and help you select the product that's right for your financial needs.

Get in Touch

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