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our current rates
Interest rates can have a big impact on your wallet. Anytime you borrow, the interest rate on your loan will determine the amount of money you pay back. With savings, the interest rate will dictate how much your account earns over time. Below you'll find the interest rates for all of our products and services. Take some time to look them over and find a rate that works for you.
| Product | Minimum to Open | Interest Rate | APY* |
|---|---|---|---|
| Passbook and Statement Savings Account | $100 | 0.30% | 0.30% |
| Smart Move Online Savings Account $.01 - $249,999.99 | $.01 | 1.71% | 1.75% |
| Smart Move Online Savings Account $250,000.00 or more | $.01 | 0.30% | 0.30% |
| Business Savings Account | $100 | 0.30% | 0.30% |
| Business Money Market $.01 - $1,000,000.00 | $10,000 | 1.23% | 1.25% |
| Business Money Market $1,000,000.01 or more | $10,000 | 0.30% | 0.30% |
| PowerFlex Money Market $0.01 - $9,999.99 | $1,000 | 0.20% | 0.20% |
| PowerFlex Money Market $10,000.00 - $24,999.99 | $1,000 | 0.25% | 0.25% |
| PowerFlex Money Market $25,000.00 or more | $1,000 | 0.64% | 0.65% |
| Checking with Interest up to $9,999.99 | $100 | 0.17% | 0.17% |
| Checking with Interest up to $24,999.99 | $100 | 0.19% | 0.19% |
| Checking with Interest up to $49,999.99 | $100 | 0.21% | 0.21% |
| Checking with Interest up to $74,999.99 | $100 | 0.23% | 0.23% |
| Checking with Interest $75,000.00 or more | $100 | 0.25% | 0.25% |
| School Savings Account | $.01 | 1.27% | 1.30% |
| Vacation and Holiday Club Account | $10 | 0.30% | 0.30% |
| Kids Club | $.01 | 1.27% | 1.30% |
| Rates are effective as of 8/13/2018 |
| Product | Minimum to Open | Current Interest Rate | Current APY* |
|---|---|---|---|
| 90 Day CD | $500 | 0.98% | 1.00% |
| 6 Month CD | $500 | 1.23% | 1.25% |
| 9 Month CD | $500 | 1.47% | 1.50% |
| 12 Month CD | $500 | 1.81% | 1.85% |
| 15 Month Penalty Free CD** | $500 | 1.81% | 1.85% |
| 18 Month CD | $500 | 2.05% | 2.10% |
| 24 Month CD | $500 | 2.19% | 2.25% |
| 30 Month Variable Rate CD*** | $500 | 2.77% | 2.85% |
| 36 Month CD | $500 | 2.24% | 2.30% |
| 48 Month CD | $500 | 2.39% | 2.45% |
| 60 Month CD | $500 | 2.53% | 2.60% |
| 72 Month CD | $500 | 2.58% | 2.65% |
| 84 Month CD | $500 | 2.68% | 2.75% |
| Rates are effective as of 8/13/2018 |
* Annual Percentage Yield
** A Ridgewood savings or checking account required. Maximum deposit is $250,000. Withdrawals cannot be made during the first 15 days of account opening. After the 15th day from account opening, the full balance may be withdrawn at any time. No partial withdrawals of principal or interest are permitted at any time.
***Rate varies monthly and is guaranteed to be 0.10% above the 2 Year US Treasury Rate. The interest rate will not go below 2.00% (2.05%APY*) and can go as high as 3.50%. (3.61%APY*). Maximum deposit is $250,000.
Fees charged on some accounts may reduce your earnings.
Early withdrawal penalties apply on CD accounts except the 15 Month Penalty Free CD.
Each IRA certificate of deposit may only be opened as part of an Individual Retirement Account relationship.
Rates & terms are subject to change without notice.
| Loan Type | Max. Loan Amount | Rate | APR | Term (Months) | CPM |
|---|---|---|---|---|---|
| Home Resource Owner Occupied | $500,000.00 Loan must be $50,000 and over for terms over 10 years, and $100,000 and over for terms over 15 years | 4.000% | 4.000% | 60 | $18.42 |
| 4.750% | 4.750% | 120 | $10.48 | ||
| 5.000% | 5.000% | 180 | $7.91 | ||
| 5.500% | 5.500% | 240 | $6.88 | ||
| Home Resource Investment Property | $50,000.00 | 4.750% | 4.750% | 60 | $18.76 |
| 5.500% | 5.500% | 120 | $10.85 | ||
| Personal | $10,000.00 | 13.50% | 13.50% | 36 | $33.94 |
| Education | $10,000.00 | 13.50% | 13.50% | 60 | $23.01 |
| Personal Savings (Passbook) | Balance in savings account minus any applicable hold(s) which includes three months of interest | 4.50% | 4.50% | 12 | $85.38 |
| 5.00% | 5.00% | 24 | $43.87 | ||
| 6.00% | 6.00% | 36 | $30.42 | ||
| Rates are effective as of 6/15/2018 |
| Loan Type | Max. Loan Amount | Rate | APR | Term (Months) | CPM |
|---|---|---|---|---|---|
| Home Equity Line of Credit | $500,000.00 | 5.25%/5.50% | 5.25%/5.50% | 60 month draw period, 180 month repayment period | |
| Overdraft Line of Credit | $2,500.00 | 14.00% | 14.00% | 24 | |
| Secured Overdraft Line of Credit | Balance in Savings A/C up to $7,500 | 5.50% | 5.50% | 24 | |
| Rates are effective as of 6/15/2018 |
CPM = Cost Per Thousand Borrowed
Rates and terms are subject to change without notice.
For Home Resource Loan:
All loans secured by a mortgage lien on property. The total indebtedness (which equals the amount of your first mortgage, plus the amount of the Home Resource Loan), cannot exceed the limits below.
For 1 to 4 Family Properties: 75% of current value.
For Co-ops and Condos: 65% of current value.
For 5 to 6 Family Properties: 60% of current value.
Loan cannot be in first position.
Loan products and services subject to credit approval.
Ridgewood Savings Bank will pay the mortgage tax and recording fees, generally between $175.00 and $9,147.00, subject to reimbursement on early termination.
Property Insurance will be required.
For Home Equity Line of Credit:
Rate is determined by Combined Loan to Value ratio. If CLTV is 65% or less, Rate is Prime plus 0.25%. If CLTV is greater than 65%, Rate is Prime plus 0.50%. All Rates can change monthly. Maximum APR is 7% over Initial Rate.
Loan products and services subject to credit approval.
Ridgewood Savings Bank will pay the mortgage tax and recording fees, generally between $175.00 and $9,147.00, subject to reimbursement on early termination.
Property Insurance will be required.
| 1 to 4 Family, Condo | Rate | APR | Points | CPM |
|---|---|---|---|---|
| Conventional/Fixed (10 Year) | 4.000% | 4.00% | 0 | $10.12 |
| Conventional/Fixed (15 Year) | 4.250% | 4.25% | 0 | $7.52 |
| Conventional/Fixed (20 Year) | 4.500% | 4.50% | 0 | $6.33 |
| Conventional/Fixed (25 Year) | 4.625% | 4.63% | 0 | $5.63 |
| Conventional/Fixed (30 Year) | 4.750% | 4.75% | 0 | $5.22 |
| SONYMA/Fixed (30 Year) Achieve the Dream | 4.375% | 4.38% | 0 | $4.99 |
| Bi-Weekly 30 Yr Fixed Conforming RSB DD* | 4.750% | 4.75% | 0 | $5.22 |
| Rates are effective as of 8/21/2018 |
| 1 to 4 Family, Condo, Co-op | Initial Rate | APR | Points | CPM/Initial Rate | Current Fully Indexed Rate(a) | CPM/Current Fully Indexed Rate(b) |
|---|---|---|---|---|---|---|
| AML - 5/1 Year (T Bill) | 3.875% | 4.81% | 0 | $4.70 | 5.375% | $5.60 |
| AML - 7/1 Year (T Bill) | 4.000% | 4.70% | 0 | $4.77 | 5.375% | $5.60 |
| AML - 10/1 Year (T Bill) | 4.250% | 4.66% | 0 | $4.92 | 5.375% | $5.60 |
| AML - 15/1 Year (T Bill) | 4.375% | 4.57% | 0 | $4.99 | 5.375% | $5.60 |
| Rates are effective as of 8/21/2018 |
| 1 to 4 Family, Condo, Co-op | Initial Rate | APR | Points | CPM/Initial Rate | Current Fully Indexed Rate(a) | APM/Current Fully Indexed Rate(b) |
|---|---|---|---|---|---|---|
| RSB Affordable 20 Yr Fixed | 4.250% | 4.25% | 0 | $6.19 | N/A | N/A |
| RSB Affordable 30 Yr Fixed | 4.500% | 4.50% | 0 | $5.07 | N/A | N/A |
| RSB Affordable Bi-Weekly 30 Yr Fixed* | 4.500% | 4.50% | 0 | $5.07 | N/A | N/A |
| RSB Affordable 5/1 ARM (T Bill) | 3.625% | 4.73% | 0 | $4.56 | 5.375% | $5.60 |
| RSB Affordable 7/1 ARM (T Bill) | 3.750% | 4.59% | 0 | $4.63 | 5.375% | $5.60 |
| RSB Affordable 10/1 ARM (T Bill) | 4.000% | 4.51% | 0 | $4.77 | 5.375% | $5.60 |
| RSB Affordable 15/1 ARM (T Bill) | 4.125% | 4.37% | 0 | $4.85 | 5.375% | $5.60 |
| Rates are effective as of 8/21/2018 |
Except as otherwise set forth, rates are available for owner occupied properties located in the five boroughs of NYC, Nassau, Westchester, Suffolk, Putnam, Rockland and Fairfield Counties.
Rates up to $2,000,000. $2,000,001 to $3,500,000 add 1.000% (1%) to rate.
Maximum loan amounts apply.
Annual cap on 5/1 adjustable products is 2%. Annual cap on 7/1, 10/1 and 15/1 adjustable products is 5% at first adjustment and then 2% thereafter. Lifetime cap on all adjustable products is 6% over the initial interest rate. For adjustable rate mortgages, the interest rate may increase after consummation.
RSB Affordable loans are available for New York Properties Only. Income Limits Apply. Maximum Loan Amount is $533,850. Available for 1-4 Family, Condos and Co-ops. LTV Guidelines Apply. Annual cap on 5/1 Adjustable Products is 2%. Annual cap on 7/1 & 10/1 and 15/1 Adjustable Products is 5% at first adjustment and then 2% thereafter. Lifetime cap on all adjustable products is 6% over the initial interest rate.
CPM = Cost Per Thousand Borrowed
Rate (a)This interest rate is an estimate of the rate that will apply for the remaining term of the loan. However, the actual interest rate will adjust periodically in accordance with the loan terms.
Rate (b)This payment is an estimate of the payment that will apply for the remaining term of the loan. However, the actual payment will adjust periodically in accordance with the loan terms. For first lien mortgages, the payment shown does not include amounts for taxes and insurance premiums, if applicable, and the actual payment obligation will be greater.
*Requires direct debit from a Ridgewood Savings Bank checking account. Other products are available. For additional information on Mortgage Loans, please call our
Mortgage Center at (866)-RSB-4111 or (866)-772-4111.
Loan products and services subject to credit approval.
Rates & terms are subject to change without notice.
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