Deposit Rates – Maximize Your Funds

At Home Federal Savings and Loan Association of Niles, we provide competitive deposit rates to help you manage and grow your personal or company’s finances. Whether you need a checking account for daily transactions or a high-yield savings account, we offer tailored solutions to meet your needs.

Checking & Savings Accounts

We offer a variety of banking accounts with flexible features and competitive rates.

Account Type Interest Rate APY Minimum Balance to Open Minimum Balance to Earn APY Minimum Balance to Avoid Service Charge
NOW Checking 0.10% 0.10% $300.00 $300.00 $300.00
NOW Checking Advantage (Age 62+) 0.10% 0.10% $300.00 $300.00 No minimum balance required
Business Checking N/A N/A No minimum balance required N/A No minimum balance required
Statement or Passbook Savings 0.10% 0.10% $50.00 $50.00 Cannot fall below $50.00
Money Market Deposit Account 0.15% 0.15% $2500.00 $300.00 Cannot fall below $300.00

*APY = Annual Percentage Yield. Interest rates and APYs on deposit accounts are subject to change.
*NOW Checking-If now account falls below $300.00 average daily balance there will be a $10.00 per month service charge plus $0.25 per check cleared.

Money Market Tiering levels and their applicable interest rates:

The interest to be paid on your account will depend on the daily balance in our account. The separate "tiers" that have varying interest rates that apply are:
If the daily balance in your account is less than $300.00, no interest will be paid on the entire balance in your account
If the daily balance in your account is $300.00 or more but less than $2,500.00, the entire balance in your account will earn the appropriate interest rate
If the daily balance in your account is $2,500.00 or more but less than $500,000.00, the entire balance in your account will earn the appropriate interest rate
If the daily balance in your account is $500,000.00 or more but less than $1,000,000.00, the entire balance in your account will earn the appropriate interest rate
If the daily balance in your account is $1,000,000.00 or more, the entire balance in your account will earn the appropriate rate

Key Benefits of Deposit Accounts:

✔Checking Accounts: No minimum balance required for daily transactions
✔NOW Checking: Earn competitive interest while managing your funds efficiently
✔Savings Accounts: Earn interest on your reserves while keeping funds easily accessible.
✔Money Market Accounts: Benefit from tiered interest rates to maximize returns on higher balances
✔Flexible Online Banking Access: Manage your accounts anytime with our secure online banking platform.

Certificates of Deposit (CDs)

If you are looking for higher returns with fixed interest rates, our Certificates of Deposit (CDs) provide secure and stable investment opportunities.

Certificates of Deposit

Looking for a guaranteed rate of return for your money? We have a variety of CD options for you. Lock in a great rate today!

✔ $1,000.00 minimum to open the account
✔ Terms 6 months to 72 months
✔ Fixed rates, higher than a regular savings
✔ Receive higher rates by selecting a longer term
✔ You must maintain $1,000.00 minimum balance to obtain the annual percentage yield

Certificates of Deposit

Term Interest Rate APY Early Withdrawal Penalty
6 Months 2.00% 2.02% 3 Months of interest
12 Months 2.00% 2.02% 3 Months of interest
18 Months 2.05% 2.07% 6 Months of interest
24 Months 2.05% 2.07% 6 Months of interest
36 Months 2.15% 2.17% 6 Months of interest
48 Months 2.30% 2.32% 12 Months of interest
60 Months 2.35% 2.37% 12 Months of interest

*APY = Annual Percentage Yield. APY is based on quarterly compounding.

  • Interest rates are fixed for term of the certificate.
  • Your account will automatically renew at maturity.
  • You will have 7 calendar days after the maturity date to withdraw your funds without being charge a penalty.
  • Penalty will be imposed for early withdrawal.

Additional Information

Fixed Rate Account: The interest rate on this account is fixed. You will be paid this rate until the maturity date of the certificate.
Compounding and Crediting: Certificates with terms of 91 days will earn interest on a noncompounded basis and be credited at maturity. Certificates with terms greater than 91 days will earn interest on a quarterly basis compounded basis and credited on a quarterly basis unless monthly, quarterly, semi-annual or at maturity checks or transfers are taken. In this case, interest will be earned on a noncompounded basis.
Computation Method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of Interest of Noncash Deposits: Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction Limitations: You may not make deposits into your account until the maturity date.
Early Withdrawal Penalty: We may impose a penalty if you withdraw any of the principal before the maturity date. If you reduce the balance in the account below the minimum balance requirement, we may impose the penalty on the entire account balance and any funds left in the account will then receive the interest rate and annual percentage yield then being paid on regular savings accounts.
Withdrawal of Interest Prior to Maturity: The annual percentage yield disclosed in the rate section assumes interest will remain on deposit until maturity. Any withdrawal will reduce earnings.
Renewal of Account: Your account will automatically renew at maturity. You will have 7 calendar days after the maturity date to withdraw your funds without being charged a penalty.

Jumbo Certificates of Deposit

If you are looking to invest larger sums, our Jumbo CDs offer higher interest rates and customized terms.

Jumbo CD Features:

✔ Minimum Opening Balance: $100,000.00
✔ Higher Fixed Interest Rates than standard savings or CDs
✔ Flexible Terms: Choose from 6 to 72 months
✔ Interest Compounding: Monthly interest crediting for greater earnings
✔ Negotiable Early Withdrawal Terms upon account opening

Jumbo CD Rates:

Term Interest Rate APY Early Withdrawal Penalty
6 Months 2.65% 2.68% 3 Months of interest
11/12 Months 2.70% 2.73% 3 Months of interest
15 Months 2.70% 2.73% 6 Months of interest
24 Months 2.80% 2.84% 6 Months of interest
36 Months 2.80% 2.84% 12 Months of interest
48 Months 2.85% 2.89% 12 Months of interest
60 Months 3.25% 3.30% Negotiable
72 Months 3.45% 3.51% Negotiable

*APY = Annual Percentage Yield. Rates are subject to change.

  • APY is based on quarterly compounding.
  • Interest rates are fixed for term of the certificate.
  • Single Maturity-Non-renewable upon maturity.
  • After maturity the account will receive earnings at the rate then paid on a regular savings account.
  • Penalty will be imposed for early withdrawal.

Start Growing Your Savings Today!

At Home Federal Savings and Loan Association of Niles, we provide banking solutions that help you manage, save, and invest with confidence.

Contact us today at 330-652-2539 or visit us online to open a checking or deposit account that fits your needs!