Personal CDs

Interest rates and annual percentage yields (APYs) are current as of October 1, 2019. Interest rates and APYs may change at any time at the bank's discretion. Interest is calculated on the daily collected balance and is compounded and credited monthly. Fees may reduce earnings. Refer to our Schedule of Fees for information on other fees that may apply.

If you withdraw funds from a CD within 6 days of initial deposit or within 6 days of the most recent partial withdrawal, you will be subject to a mandatory early withdrawal penalty equal to at least 7 days simple interest on the amount withdrawn, unless federal regulations permit the waiver of this penalty. If you withdraw funds at any other time before CD maturity, a penalty may be imposed for early withdrawal.

CDs automatically renew for the same term, unless otherwise specified in the account disclosure. View the account disclosures here. You have a grace period of 7 calendar days after the CD's maturity date to withdraw the funds or change terms of the account without being charged a penalty.

Download Rates Sheet

Minimum deposit to open and be maintained to obtain APY: $2,500

Term Length Interest Rate / APY
6 Month Term 0.60% / 0.60%
1 year term 0.90% / 0.90%
13 month term Special 1.78% / 1.79%
23 month term Special 1.83% / 1.85%
2 year term 1.10% / 1.11%
30 month term Special 1.85% / 1.87%
3 year term 1.20% / 1.21%
4 year term 1.35% / 1.36%
4 year term Special* 1.87% / 1.89%
5 year term 1.50% / 1.51%
5 Year Term Step Up Special

Year 1
1.70% / 1.94%

Year 2
1.80% / 1.94%

Year 3
1.90% / 1.94%

Year 4
2.00% / 1.94%

Year 5
2.22% / 1.94%

*Option for one-time penalty-free withdrawal up to 25% of principal balance.   Click here for disclosures.

Personal Checking Rates

Interest rates and annual percentage yields (APYs) are current as of October 1, 2019. Interest rates and APYs may change at any time at the bank's discretion. Interest is calculated on the daily collected balance and is compounded and credited monthly. Fees may reduce earnings. Refer to our Schedule of Fees for information on other fees that may apply.

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  Dream Big Checking* Dream Big Checking with Savings*** Simply Checking** Reserve Checking 50+ Checking1
Minimum Deposit to Open $100 $100 $50 $100 $100
balances of $0.01 through $15,000.00
(Interest Rate / APY)
1.98% / 2.00%
If qualified*
2.23% / 2.25%
If qualified*
N/A 0.05% / 0.05% 0.05% / 0.05%
balances of $15,000.01 & above
(Interest Rate / APY)
0.15% / Blended - 2.00% - 0.42%**
(If qualified)
0.15% / Blended - 2.25% - 0.46%**
(If qualified)
N/A 0.05% / 0.05% 0.05% / 0.05%
Monthly Service Charge N/A N/A N/A $4 N/A
Minimum daily collected balance required to waive monthly service charge $0 $0 $0 $1,000 $0

*Non-qualifying accounts will earn 0.01%/0.01% interest rate/APY on all balances. To obtain the higher APYs in the Dream Big Checking account, you must meet 3 qualifications: 1) Have at least 12 debit card point-of-sale (POS) purchases post and clear within a qualification cycle; 2) Have at least 1 direct deposit or automatic payment post and clear within a qualification cycle; AND 3) Enroll in online banking and receive electronic statements to a valid e-mail address. ***Dream Big Checking with Savings also requires as active Dream Big Savings to qualify for a higher rate. The qualification cycle begins on the last day of the previous statement cycle and ends on the last business day before the next statement cycle ends. This statement cycle ends on the 25th of each month. If the 25th falls on a weekend or bank holiday, the statement cycle would end on the previous business day. An individual business determines the timing of processing of its POS transactions. Therefore, the bank has no control over the date items post to an account. Refer to the full Dream Big Checking account disclosure for further information.

**Range varies depending on account balance.

1At least one account holder must be 50 years of age at time of account opening.

Personal Savings Rates

Interest rates and annual percentage yields (APYs) are current as of October 1, 2019. Interest rates and APYs may change at any time at the bank's discretion. Interest is calculated on the daily collected balance and is compounded and credited monthly. Fees may reduce earnings. Refer to our Schedule of Fees for information on other fees that may apply.

Regulation D Limits: During a statement cycle, you may not make more than six (6) withdrawals or transfers from your account to another bank account of yours or to a third party by means of a pre-authorized, automatic transfer or telephonic order or instruction, whether initiated by check, draft, debit card, or similar order to a third party. Limited transactions include checks, point-of-sale (POS) transactions, debit card purchases, transfers initiated via telephone/fax/email, online banking transfers/bill payments, overdraft protection draws, and automated transfers to another Westfield Bank deposit account, a third party, or another institution. Violations of these transaction limitations may result in account closure or a transfer of all account funds out of this account to a transaction account that you are eligible to maintain. Withdrawals and transfers made in person at one of our banking offices, by messenger, by mail, or at an ATM are unlimited. In addition, you are allowed unlimited automatic transfers to repay a Westfield Bank loan. The number of deposits is also unlimited.

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  Dream Big Savings* Personal Savings DreamBuilder Savings** Personal Relationship Money Market Consumer Cash Money Market***
Minimum Deposit to Open $100 $50 $10 $500 $10,000
balances of $0.01 through $9,999.99
(Interest Rate / APY)
1.00% /1.01% (If qualified*) 0.05% / 0.05% 0.05% / 0.05% 0.10% / 0.10% 1.50% / 1.02%
balances of $10,000.00 through $35,000.00
(Interest Rate / APY)
1.00% /1.01% (If qualified*) 0.05% / 0.05% 0.05% / 0.05% 0.10% / 0.10% 1.50% / 1.02%
balances of $35,000.01 through $49,999.99
(Interest Rate / APY)
0.15% / blended - 1.00% - 0.45% (If qualified*) 0.05% / 0.05% 0.05% / 0.05% 0.10% / 0.10% 1.50% / 1.02%
balances of $50,000.00 through $499,999.99
(Interest Rate / APY)
0.15% / blended - 1.00% - 0.45% (If qualified*) 0.05% / 0.05% 0.05% / 0.05% 0.15% / 0.15% 1.50% / 1.07%
balances of $500,000.00 and up
(Interest Rate / APY)
0.15% / blended - 1.00% - 0.45% (If qualified*) 0.05% / 0.05% 0.05% / 0.05% 0.15% / 0.15% 1.50% / 1.13%
Monthly Service Charge N/A $2 N/A $10 $10
Minimum daily collected balance required to waive monthly service charge $0 $100 $0 $10,000 $10,000

*Non-qualifying accounts will earn 0.01%/0.01% interest rate/APY on all balances. You must open a new or have an existing Dream Big Checking account in order to have a Dream Big Savings account. The primary owner of the Dream Big Savings account must match the primary owner of the Dream Big Checking account. The Dream Big Savings account will be linked to the Dream Big Checking account. Only one Dream Big Savings account can be linked to each Dream Big Checking account. The statement for the Dream Big Savings account will be combined and delivered electronically with the statement for the linked Dream Big Checking account. The Dream Big Checking account must remain open throughout the period that you hold the Dream Big Savings account. If the Dream Big Checking account is closed, then the Dream Big Savings account will be converted to a Personal Savings account. To obtain the higher APYs in the Dream Big Savings account, you must meet 3 qualifications in your linked Dream Big Checking account: 1) Have at least 12 debit card point-of-sale (POS) purchases post and clear within a qualification cycle; 2) Have at least 1 direct deposit or automatic payment post and clear within a qualification cycle; AND 3) Enroll in online banking and receive electronic statements to a valid e-mail address. The qualification cycle begins on the last day of the previous statement cycle and ends on the last business day before the next statement cycle ends. This statement cycle ends on the 25th of each month. If the 25th falls on a weekend or bank holiday, the statement cycle would end on the previous business day. An individual business determines the timing of processing of its POS transactions. Therefore, the bank has no control over the date items post to an account. Refer to the full Dream Big Savings account disclosure for further information.

**To be eligible for the DreamBuilder Savings, the child must be under the age of 21 and have a valid social security number at the time of account opening. The account will be opened as a custodial account under the Uniform Transfers to Minors Act, with only one custodian permitted. Funds in this custodial savings account are an irrevocable gift to the child. The custodian has sole control and access to manage the funds in this account for the benefit of the child, until the child reaches the age of majority as defined by state law. On the child's 21st birthdate, the interest rate and terms for this account will automatically convert to those of the Personal Savings account. Refer to the full DreamBuilder Savings account disclosure for further information.

*** New Money Requirement: This account is intended for new money deposits (money not currently on deposit with Westfield Bank, FSB.). At our discretion, if deposits are not new money, any promotional rate(s) can be adjusted to the non-promotional rate(s). Combined Annual Percentage Yield (APY) for 180 day Promotional Period.

 

Personal IRA Rates

Interest rates and annual percentage yields (APYs) are current as of October 1, 2019. Interest rates and APYs may change at any time at the bank's discretion. Interest is calculated on the daily collected balance and is compounded and credited monthly. Fees may reduce earnings. Refer to our Schedule of Fees for information on other fees that may apply.

If you withdraw funds from a CD within 6 days of initial deposit or within 6 days of the most recent partial withdrawal, you will be subject to a mandatory early withdrawal penalty equal to at least 7 days simple interest on the amount withdrawn, unless federal regulations permit the waiver of this penalty. If you withdraw funds at any other time before CD maturity, a penalty may be imposed for early withdrawal.

CDs automatically renew for the same term, unless otherwise specified in the account disclosure. View the account disclosures here. You have a grace period of 7 calendar days after the CD's maturity date to withdraw the funds or change terms of the account without being charged a penalty.

Download Rates Sheet

IRA Savings

Minimum deposit to open and be maintained to obtain APY: $50

Term Length Interest Rate / APY
N/A 0.15% / 0.15%

IRA CDs

Minimum deposit to open and be maintained to obtain APY: $2,000

Term Length Interest Rate / APY
6 month term 0.60% / 0.60%
1 year term 0.90% / 0.90%
1 year IRA CD with Additional Deposits 1.63% / 1.64%
2 year term 1.10% / 1.11%
30 month term Special 1.85% / 1.87%
3 year term 1.20% / 1.21%
4 year term 1.35% / 1.36%
4 year term Special* 1.87% / 1.89%
5 year term 1.50% / 1.51%
5 year term Step Up Special

Year 1
1.70% / 1.94%

Year 2
1.80% / 1.94%

Year 3
1.90% / 1.94%

Year 4
2.00% / 1.94%

Year 5
2.22% / 1.94%

*Option for one-time penalty-free withdrawal up to 25% of principal balance.