
SAVINGS IS OUR MIDDLE NAME
A robust savings account can give you peace of mind and expanded opportunities, and it can help you earn money over time. We are committed to helping our customers gain wealth by offering some of the best savings accounts available.
RIDGEWOOD SAVINGS ADVANTAGES
We make it easy to transfer funds between your Ridgewood Checking and Savings Accounts. Better yet, many of our Savings Accounts allow you to set up automatic recurring transfers, making saving easier than ever.
Earn interest and watch your savings grow. As a mutual savings bank, we typically offer higher than average interest rates on all of our savings products.
Our Savings Accounts come with deposit insurance from the FDIC, which insures the safety of your deposits up to $250,000. FDIC Regulations apply.
With 24-hour access to your accounts, you decide when and where you want to do your banking. Our online banking, mobile banking and telephone banking services allow you to conduct many of the everyday transactions that you’re looking for, any time you want.
WHAT NEW CUSTOMERS WILL NEED TO OPEN AN ACCOUNT:
- You must be 18 years of age or older
- Your Social Security Number/Individual Taxpayer Identification Number
- Government Issued Identification (Driver's License, State ID, Military ID, or Passport)
- Joint account owners must enter and validate their personal information
- Your account and routing number, if funding by electronic transfer from another bank
Each new customer must appear personally and provide identification.
Identification acceptable for opening an account include: Two items from Group A or one item from Group A and one item from Group B. All documents must be current and valid.
Group A:
- Valid U.S. Passport
- Valid U.S. Passport Card
- Foreign Passport, if it includes a valid U.S. Visa
- U.S. Citizenship papers
- New York State Driver or Chauffeur License, bearing official state validation and photo
- New York State non-Driver license
- Out of State Driver or Chauffeur License, bearing official state validation and photo, where a sample is included in the U.S. Identification Manual
- New York State Identification Card, bearing official state validation and photo
- Out of State Identification Card, bearing official state validation and photo, where a sample is included in the U.S. Identification Manual
- Armed Forces ID Card
- New York State Benefit Card – with photo
- Learners permit, bearing official state validation and photo,
- Permanent Resident Card
- VISA
Group B:
- Employee's Photo ID Card – Local/Nationally recognized companies only
- Major Credit Card (i.e.: Visa, Mastercard, American Express, or Discover Card)
- New York State Automobile Registration bearing official state validation
- School ID
- New York State Benefits Card without a picture
- Voter's Registration Card
- Working Papers
- Library Card
- Healthcare Insurance Card
- New York City Municipal ID card
For more intricate new accounts, please call your nearest branch to learn more about the required documents to open an account.
Our Basic Savings Account Options
- STATEMENT SAVINGS
- PASSBOOK SAVINGS
- SMART MOVE ONLINE SAVINGS
This account provides the most convenient access to your savings with telephone banking, mobile banking, online banking and a Ridgewood ATM card.
Product | Minimum to Open | Interest Rate | APY* |
---|---|---|---|
Statement Savings | $1.00 | 0.25% | 0.25% |
Rates are effective as of 5/18/2022
*Annual Percentage Yield
Fees charged on some accounts may reduce your earnings.
Rates and terms are subject to change without notice.
This account encourages savings by limiting withdrawals to in-person visits. Many customers find that limiting their ability to make withdrawals helps them grow their savings dollars. Customers can make as many in-person deposits and withdrawals as they’d like. They can also use the automatic savings feature to set up automated deposits.
Product | Minimum to Open | Interest Rate | APY* |
---|---|---|---|
Passbook Savings | $1.00 | 0.25% | 0.25% |
Rates are effective as of 5/18/2022
* Annual Percentage Yield
Fees charged on some accounts may reduce your earnings.
Rates and terms are subject to change without notice.
With no monthly fees, our Smart Move Online Savings** is a great way to get ready for the future. This online-only savings account allows 24/7 access to your account.
Product | Minimum to Open | Interest Rate | APY* |
---|---|---|---|
Smart Move Online Savings Account $.01 - $249,999.99 | $.01 | 0.59% | 0.60% |
Rates are effective as of 5/18/2022
*Annual Percentage Yield
**Rate and APY for balances up to $249,999.99. For balances $250,000 and greater the rate is 0.25% and the APY is 0.25%.
Fees charged on some accounts may reduce your earnings.
Rates and terms are subject to change without notice.
Our Specialized Savings Account Options
- POWERFLEX MONEY MARKET ACCOUNT
- VACATION AND HOLIDAY CLUB SAVINGS
Our tiered PowerFlex Money Market Account provides higher balance savers with higher than regular savings account rates, free in-person withdrawals, and greater liquidity than a CD.
Product | Minimum to Open | Interest Rate | APY* |
---|---|---|---|
PowerFlex Money Market $0.01 - $9,999.99 | $1,000 | 0.15% | 0.15% |
PowerFlex Money Market $10,000.00 - $24,999.99 | $1,000 | 0.20% | 0.20% |
PowerFlex Money Market $25,000.00 or more | $1,000 | 0.30% | 0.30% |
Rates are effective as of 5/18/2022
*Annual Percentage Yield
Fees charged on some accounts may reduce your earnings.
Rates and terms are subject to change without notice.
One of the best ways to save is to make it a regular process. On a set schedule (weekly, biweekly, monthly) an amount you specify is automatically withdrawn from your Ridgewood Checking Account and deposited into your Vacation and Holiday Club Savings Account. Club Savings Accounts are a great way to save for vacations, special events, or the holidays.
Product | Minimum to Open | Interest Rate | APY* |
---|---|---|---|
Vacation and Holiday Club Account | $1.00 | 0.25% | 0.25% |
Rates are effective as of 5/18/2022
*Annual Percentage Yield
A new or existing checking account is required.
Fees charged on some accounts may reduce your earnings.
Rates and terms are subject to change without notice.
Additional Specialized/Intricate Accounts
ACCOUNTS FOR UNIQUE SITUATIONS
If you’re a landlord, the executor of an estate, or acting as a custodian, representative, or guardian for another person, you’ve got unique financial needs. Ridgewood offers special accounts built for your situation.
Our Youth-Focused Savings Accounts
- KIDS CLUB
- SCHOOL PASSBOOK ACCOUNT
The Kids Club is a great way for kids to save and to learn about managing their money. The account is opened in the child’s name, providing him or her with a sense of independence. Interested kids need a Social Security card and must be able to sign or print their name in order to open an account. Any amount over $.25 can be deposited at any time, and the minimum balance to open a Kids Club account is $.01. Customers must be 17 or younger to qualify for this account.
Product | Minimum to Open | Interest Rate | APY* |
---|---|---|---|
Kids Club | $.01 | 0.98% | 1.00% |
Visit your local branch to get started.
Rates are effective as of 5/18/2022
*Annual Percentage Yield
Fees charged on some accounts may reduce your earnings.
Rates and terms are subject to change without notice.
Our School Passbook Account is designed for children under 17 years of age who are currently enrolled in a participating school. This account is designed to help kids learn about the benefits of saving. To make things easier, we’ve established a pickup/return schedule with participating schools. This service enables kids to make regularly scheduled deposits directly from school. Interested students need a Social Security card and must be able to sign or print their name in order to open an account. Any amount over $.25 can be deposited at any time, and the minimum balance to open this account is $.01.
Product | Minimum to Open | Interest Rate | APY* |
---|---|---|---|
School Passbook Account | $.01 | 0.98% | 1.00% |
To get your school started or to inquire if your school is already participating, contact Nancy Adzemovic at (718) 261-2021 or email her at [email protected]
Rates are effective as of 5/18/2022
*Annual Percentage Yield
Fees charged on some accounts may reduce your earnings.
Rates and terms are subject to change without notice.

Our tools and resources
Explore budgeting tools, helpful video demos, and security tips in our resource section.
Go now