Torrington Savings Bank

Current Rates

Choose an option below to view:

View Fee Schedule »

Rates subject to change without notice.

Checking Accounts

Effective Date: Saturday, April 30, 2016

Deposit ProductsAnnual Percentage YieldSimple Interest RateMinimum Balance to earn Posted rateMinimum Balance to Open# of Days
Hometown CheckingN/AN/AN/A$100.00366
My Generation CheckingN/AN/AN/A$50.00366
Advantage NOW Checking0.050%0.050%$250.00$100.00366
Advantage 50 Checking0.050%0.050%$5.00$100.00366
Multi-Account Checking0.050%0.050%$5.00Existing Accounts Only366
Advantage PLUS Money Market Checking0.050%0.050%$2,500.00Existing Accounts Only366
Better Business CheckingN/A0.050%N/A$500.00366
Business Checking - Earnings CreditsN/A0.050%N/AExisting Accounts Only366

HOW TO OPEN

Interest is compounded continuously from the day of deposit to the day of withdrawal and is credited monthly. 

To realize the effective annual yield, principal and interest must remain on deposit for a full year at the original rate.

See our Terms and Conditions Disclosure for the rules and regulations which apply to all of our accounts.

Regular Savings Accounts

Effective Date: Saturday, April 30, 2016

Deposit ProductsAnnual Percentage YieldSimple Interest RateMinimum Balance to earn Posted rateMinimum Balance to Open# of Days
Hometown Savings0.100%0.100%$5.00$5.00366
First Time Savers Club
0 to $1,000.00
5.00%5.00%Less than $1,000.00$1.00Simple
First Time Savers Club
over $1,000.00
0.100%0.100%More than $1,000.00N/ASimple
Christmas Club Account0.100%0.100%N/A$3.00366
Build Your Own Club Account0.100%0.100%N/A$1.00366

HOW TO OPEN

Interest is compounded continuously from the day of deposit to the day of withdrawal and is credited monthly. 

To realize the effective annual yield, principal and interest must remain on deposit for a full year at the original rate.

Fees could reduce the earnings on Traditional and Value Savings Accounts.

The interest rate on variable rate savings accounts may change after the account is opened.

See our Terms and Conditions Disclosure for the rules and regulations which apply to all of our accounts.

Money Market Savings Accounts

Effective Date: Saturday, April 30, 2016

Deposit ProductsAnnual Percentage YieldSimple Interest RateMinimum Balance to earn Posted rateMinimum Balance to Open# of Days
Hometown Money Market0.100%0.100%Less Than $1000.00N/A366
Hometown Money Market0.100%0.100%$1000.00$1000.00366
Better Business Money Market0.100%0.100%$1000.00$100.00366

HOW TO OPEN

Interest is compounded continuously from the day of deposit to the day of withdrawal and is credited monthly. 

To realize the effective annual yield, principal and interest must remain on deposit for a full year at the original rate.

See our Terms and Conditions Disclosure for the rules and regulations which apply to all of our accounts.

Certificates of Deposit

Effective Date: Saturday, April 30, 2016

CD ProductsAnnual Percentage YieldSimple Interest RateMinimum Balance to earn Posted rateMinimum Balance to Open# of Days
Three Month Certificate0.200%0.200%$1,000.00$1,000.00366
Six Month Certificate0.250%0.250%$1,000.00$1,000.00366
Nine Month Certificate0.300%0.300%$1,000.00$1,000.00366
One Year Certificate0.552%0.550%$1,000.00$1,000.00366
Thirteen Month Certificate0.753%0.750%$1,000.00$1,000.00366
Fifteen Month Certificate0.803%0.800%$1,000.00$1,000.00366
Eighteen Month Certificate0.904%0.900%$1,000.00$1,000.00366
Twenty-One Month Advantage Certificate0.904%0.900%$1,000.00$1,000.00366
Two Year Certificate1.250%1.242%$1,000.00$1,000.00366
Thirty Month (2-1/2 Year) Certificate1.500%1.489%$1,000.00$1,000.00366
Three Year Certificate1.501%1.490%$1,000.00$1,000.00366
Four Year Certificate1.613%1.600%$1,000.00$1,000.00366
Five Year Certificate2.020%2.000%$1,000.00$1,000.00366

HOW TO OPEN

Interest is compounded continuously from the day of deposit to the day of withdrawal and is credited monthly. 

To realize the effective annual yield, principal and interest must remain on deposit for a full year at the original rate.

A substantial interest penalty is required for early withdrawals from certificates of deposit.

For CDs with a term from 3 months to 1 year: penalty is 3 months' simple interest on the amount withdrawn.

For CDs with a term of more than one year: penalty is 6 months' simple interest on the amount withdrawn.

See our Terms and Conditions Disclosure for the rules and regulations which apply to all of our accounts.

IRA Savings Accounts

Effective Date: Saturday, April 30, 2016

IRA ProductsAnnual Percentage YieldSimple Interest RateMinimum Balance to earn Posted rateMinimum Balance to Open# of Days
Traditional Plus and Value Plus Accounts0.100%0.100%Less than $1,000.00N/A366
Traditional Plus (Passbook Account)0.100%0.100%$1,000.00$1,000.00366
Value Plus (Statement Account)0.100%0.100%$1,000.00$1,000.00366

HOW TO OPEN

Interest is compounded continuously from the day of deposit to the day of withdrawal and is credited monthly. 

To realize the effective annual yield, principal and interest must remain on deposit for a full year at the original rate.

See our Terms and Conditions Disclosure for the rules and regulations which apply to all of our accounts.

IRA Certificates of Deposit

Effective Date: Saturday, April 30, 2016

IRA ProductsAnnual Percentage YieldSimple Interest RateMinimum Balance to earn Posted rateMinimum Balance to Open# of Days
Three Month Certificate0.200%0.200%$1,000.00$1,000.00366
Six Month Certificate0.250%0.250%$1,000.00$1,000.00366
Nine Month Certificate0.300%0.300%$1,000.00$1,000.00366
One Year Certificate0.552%0.550%$1,000.00$1,000.00366
Thirteen Month Certificate0.753%0.750%$1,000.00$1,000.00366
Fifteen Month Certificate0.803%0.800%$1,000.00$1,000.00366
Eighteen Month Certificate0.904%0.900%$1,000.00$1,000.00366
Twenty-One Month Advantage Certificate0.904%0.900%$1,000.00$1,000.00366
Two Year Certificate1.250%1.242%$1,000.00$1,000.00366
Thirty Month (2-1/2 Year) Certificate1.500%1.489%$1,000.00$1,000.00366
Thirty Month (2-1/2 Year) Variable1.500%1.489%$100.00$100.00366
Three Year Certificate1.501%1.490%$1,000.00$1,000.00366
Four Year Certificate1.613%1.600%$1,000.00$1,000.00366
Five Year Certificate2.020%2.000%$1,000.00$1,000.00366

HOW TO OPEN

Interest is compounded continuously from the day of deposit to the day of withdrawal and is credited monthly. 

To realize the effective annual yield, principal and interest must remain on deposit for a full year at the original rate.

See our Terms and Conditions Disclosure for the rules and regulations which apply to all of our accounts.