Watertown Savings Bank provides consumer and commercial banking products and services in New York.  Watertown Savings Bank was founded in 1894 and is based in Watertown, New York.  The bank offers standard savings products including savings accounts, money market account and CDs as well as an assortment of lending products.

Watertown Savings Bank certificates of deposit and IRA accounts are a safe and secure way to earn a higher return on investment funds.  Maturities for the bank CD’s range from 6 months to 5 years.  Minimum balance to open a bank CD is $500.00.  6 month bank CD accounts are simple interest, paid quarterly and at maturity.  1 to 5-year bank CD accounts are compounded daily and credited quarterly and at maturity.  CD interest earned can be credited to the account, transferred to any statement account, or mailed.  A penalty may be imposed for withdrawals before maturity.  Fees may reduce earnings.

Current bank CD rates and terms:

6 month CD rate is 1.65% APY
1 year CD rate is 1.80% APY
18 month CD earns an interest rate of 2.00% APY
2 year CD yields a rate of 2.00% APY
3 year CD has an interest rate of 2.26% APY
4 year CD earns a rate of 2.51% APY
5 year CD rate is 2.78% APY

The bank also offers a competitive rate on their savings account that currently yields a rate of 1.02% APY.  Transfers from this account to another account or to third parties by preauthorized, automatic or telephone transfers are limited to six per month.  Interest is compounded daily and paid quarterly.  A minimum deposit of $ 10.00 is required to open this savings account.  A minimum balance of $100.00 in the account every day is required to obtain the annual percentage yield on the savings account.

Bank rates and CD rates are effective through 4/1/09 and are subject to change without notice.  For more information on bank accounts and bank rates, contact the bank at 315-788-7100.  Watertown Savings Bank website has current CD rate information and additional information on bank products, the bank web address can be found at www.wsbny.com.

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