Providence Bank is located and headquartered in Winter Haven, Florida.  The bank was established in 2005 and has just one location.  Providence Bank is a full-service independent community bank.  Providence Bank provides a great deal of banking services to its customers and allows them to choose from various savings accounts that are available.  Customers can choose from checking accounts or savings accounts for personal needs as well as commercial or business purposes.

Providence Bank offers a standard savings account and a premium savings account.  A deposit of at least $100 is needed to open a savings account or $1,500 for the premium savings account.  This account is considered to be one of the best options for the right combination to interest earning potential as well as financial flexibility.

Savings Accounts Rates:
   
For savings account balances of $0.00 to $2,499 the rate is 0.55% APY
For savings account balances of $2,500 to $9,999 the interest rate earned is 0.65% APY
For balances of $10,000 to $24,999 the rate is 1.41% APY
For savings account balances of $25,000 to $49,999 the interest rate is 1.51% APY
And for balances of $50,000 and up the yield earned is 1.61% APY

Premium savings account rates with a minimum of $10,000 to open:
   
For account balances of $10,000 to $24,999 the interest rate is 1.71% APY
For savings balances of $25,000 to $49,999 the rate is 1.81% APY
For balances of $50,000 to $99,999 the rate earned is 2.12% APY
Balances of $100,000 to $249,999 the interest rate rises to 2.63% APY
And for balances greater than $250,000 the rate is 2.68% APY

The bank certificates of deposits can be fixed upon a period of six months to five years.  There is a minimum opening deposit of $1,000 for the bank CDs with the exception of the 30 day CD which requires a $2,500 opening deposit.  .

Current CD rates and terms:

30 day CD rate is 1.00% APY
3 month CD earns a rate of 1.26% APY
6 month CD has an interest rate of 1.76% APY
7 month CD yields a rate of 2.01% APY
One year CD rate is 2.50% APY
13 month CD earns a rate of 2.73% APY
18 month CD has an interest rate of 2.78% APY
19 month CD yields a rate of 2.83% APY
Two year CD rate is 2.93% APY
25 month CD earns a rate of 2.98% APY
30 month CD has an interest rate of 3.03% APY
Three year CD yields a rate of 3.08% APY
Four year CD has a rate of 3.13% APY
Five year CD rate is 3.19% APY

Bank rates, savings rates and CD rates subject to change.  For current CD rates and account information the bank can be reached directly at 863-299-0600.  The Providence Bank website has additional information regarding bank products and rates, the website can be found at www.providencebankfla.com.

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