BUSINESS
RATES
We offer the best rates possible
for our customers. Click on the
products below to learn more
about current rates:
Call Mortgage Plus Loans Team:
201-683-8800
BUSINESS RATES
Rates effective as of 3/20/24
All rates subject to change without notice
Business Rates
FEATURED PRODUCTS
BLUE CARBON®
|
Interest Rate 0.00% |
APY† 0.00% |
Minimum Deposit to Open an Account $35,000 |
Minimum Balance to Avoid Maintenance Fee $35,000 |
---|
Interest Rate
0.00%
APY†
0.00%
Minimum Deposit to Open an Account
$35,000
Minimum Balance to Avoid Maintenance Fee
$35,000
CERTIFICATES OF DEPOSIT**
6 MONTH*
- 6 MONTH*
-
Interest Rate
-
.20%
-
APY†
-
.20%
-
Min Deposit
-
$1,000
12 MONTH*
- 12 MONTH*
-
Interest Rate
-
.50%
-
APY†
-
.50%
-
Min Deposit
-
$1,000
24 MONTH*
- 24 MONTH*
-
Interest Rate
-
.30%
-
APY†
-
.30%
-
Min Deposit
-
$1,000
36 MONTH*
- 36 MONTH*
-
Interest Rate
-
.50%
-
APY†
-
.50%
-
Min Deposit
-
$1,000
48 MONTH*
- 48 MONTH*
-
Interest Rate
-
.35%
-
APY†
-
.35%
-
Min Deposit
-
$1,000
60 MONTH*
- 60 MONTH*
-
Interest Rate
-
.40%
-
APY†
-
.40%
-
Min Deposit
-
$1,000
CHECKING ACCOUNTS
BLUE CARBON® BUSINESS
|
Interest Rate 0.00% |
APY† 0.00% |
Minimum Deposit to Open an Account $35,000 |
Minimum Balance to Avoid Maintenance Fee $35,000 |
---|
BLUE CARBON®
|
Interest Rate |
APY† |
Minimum Deposit to Open an Account $1,000 |
Minimum Balance to Avoid Maintenance Fee N/A |
---|---|---|---|---|
Balance $.01 - $9,999.99 |
Interest Rate .00% |
APY† .00% |
Minimum Deposit to Open an Account |
Minimum Balance to Avoid Maintenance Fee |
Balance $10,000 - $49,999.99 |
Interest Rate .05% |
APY† .05% |
Minimum Deposit to Open an Account |
Minimum Balance to Avoid Maintenance Fee |
Balance $50,000 and up |
Interest Rate .10% |
APY† .10% |
Minimum Deposit to Open an Account |
Minimum Balance to Avoid Maintenance Fee |
BLUE CARBON EDGE®
|
Interest Rate |
APY† |
Minimum Deposit to Open an Account $250,000 |
Minimum Balance to Avoid Maintenance Fee N/A |
---|---|---|---|---|
Balance $.01 - $249,999.99 |
Interest Rate .00% |
APY† .00% |
Minimum Deposit to Open an Account |
Minimum Balance to Avoid Maintenance Fee |
Balance $250,000 and up |
Interest Rate 2.62% |
APY† 2.65% |
Minimum Deposit to Open an Account |
Minimum Balance to Avoid Maintenance Fee |
Interest Rate
0.00%
APY†
0.00%
Minimum Deposit to Open an Account
$35,000
Minimum Balance to Avoid Maintenance Fee
$35,000
BLUE CARBON®
BUSINESS CHECKING
Open Now
Interest Rate
APY†
Minimum Deposit to Open an Account
$1,000
Minimum Balance to Avoid Maintenance Fee
N/A
Interest Rate
.00%
APY†
.00%
Minimum Deposit to Open an Account
Minimum Balance to Avoid Maintenance Fee
Interest Rate
.05%
APY†
.05%
Minimum Deposit to Open an Account
Minimum Balance to Avoid Maintenance Fee
Interest Rate
.10%
APY†
.10%
Minimum Deposit to Open an Account
Minimum Balance to Avoid Maintenance Fee
BLUE CARBON EDGE®
BUSINESS CHECKING
Open Now
Interest Rate
APY†
Minimum Deposit to Open an Account
$250,000
Minimum Balance to Avoid Maintenance Fee
N/A
Interest Rate
.00%
APY†
.00%
Minimum Deposit to Open an Account
Minimum Balance to Avoid Maintenance Fee
Interest Rate
2.62%
APY†
2.65%
Minimum Deposit to Open an Account
Minimum Balance to Avoid Maintenance Fee
MONEY MARKET ACCOUNTS
BLUE CARBON®
|
Interest Rate .70% |
APY† .70% |
Minimum Deposit to Open an Account $5,000 |
Minimum Balance to Avoid Maintenance Fee N/A |
---|
MUNICIPAL MONEY MARKET |
Interest Rate Call for rates. |
APY† Call for rates. |
Minimum Deposit to Open an Account $5,000 |
Minimum Balance to Avoid Maintenance Fee N/A |
---|
BLUE CARBON®
BUSINESS MONEY MARKET
Open Now
Interest Rate
.70%
APY†
.70%
Minimum Deposit to Open an Account
$5,000
Minimum Balance to Avoid Maintenance Fee
N/A
MUNICIPAL MONEY MARKET
Interest Rate
Call for rates.
APY†
Call for rates.
Minimum Deposit to Open an Account
$5,000
Minimum Balance to Avoid Maintenance Fee
N/A
MORE PRODUCTS
-
IOLTA
FUND -
Interest Rate
-
3.30%
-
APY†
-
3.30%
-
Min Deposit
-
$1
SAVINGS ACCOUNTS
BLUE CARBON®OPEN NOW
|
Interest Rate 1.73% |
APY† 1.75% |
Minimum Deposit to Open an Account $1 |
Minimum Balance to Avoid Maintenance Fee N/A |
---|
BLUE CARBON®
BUSINESS SAVINGS
OPEN NOW
Interest Rate
1.73%
APY†
1.75%
Minimum Deposit to Open an Account
$1
Minimum Balance to Avoid Maintenance Fee
N/A
† APY stands for Annual Percentage Yield
** Penalty for early withdrawal. See Deposit Account Terms for further details.
1 Cash bonus is not available to existing Blue Foundry Bank Business Checking customers or businesses that have closed their checking account within the last 12 months. Only one Cash Bonus available per tax id. Bonus will be earned when account maintains a balance of at least $35,000 at all times during a 7-month (213 day) qualification period. Qualification period begins when account balance is $35,000, which must be within the first 30 days of account opening. Once the qualification period has concluded, your account will be credited the $1,000 cash bonus within 60 days. For tax purposes, bonus will be reported on 1099. Blue Foundry Bank reserves the right to modify or discontinue the cash bonus at any time.
2 5 Month CD - CD offer available on new money only. New money is defined as money not currently on deposit at Blue Foundry Bank. Total funds to be invested will be divided between the 5 Month Blue Axis Boost CD, which must be new money, and a Blue Carbon® Checking account, which can be existing money on deposit at Blue Foundry Bank. An average daily balance equal to or greater than 12.6% of the amount must be maintained in a Blue Carbon® Checking account for the entire CD term to qualify for the 6% Annual Percentage Yield. For example: if your total deposit is $10,000, your CD balance will be $8,740 and you will need to maintain an average daily balance of $1,260 in your Blue Carbon® Checking account for the entire term of the CD, to earn the Annual Percentage Yield of 6% upon maturity. If you do not maintain the required balance in your Blue Carbon® Checking, your certificate will earn an Annual Percentage Yield of 5.25%. Upon account opening, the certificate will earn an Annual Percentage Yield of 5.25%, which will compound daily and be credited monthly. If the terms of the 5 Month Blue Carbon® Boost CD are met, upon maturity your account will be credited an additional amount which will make the Annual Percentage Yield earned equal to 6%, compounded daily, for the entire CD term. Any additional interest will not be credited for early terminations, or if the average daily balance in the Blue Carbon® Checking account falls below 12.6% amount during the CD term. One 5 Month Blue Carbon® Boost CD per Blue Carbon® Checking allowed. Rate applicable to initial term only and upon maturity certificate will automatically renew to a 6 Month CD.
3 9 Month CD - Rate applicable to initial term only and upon maturity certificate will automatically renew to a 6 Month CD.
4 9 Month CD with Checking - Must open a new or have an existing checking to qualify. Rate applicable to initial term only and upon maturity will automatically renew to a 6 Month CD.
Fees may reduce earnings on the account. See Schedule of Fees for applicable fees. Withdrawal of interest will reduce earnings. Annual percentage yield assumes interest remains on deposit. Minimum balance required to obtain APY = $.01
Interest is Compounded Daily (365/365) for all accounts other than IOLTA which is simple interest, credited monthly. Checking and Savings Products are variable rate accounts. The interest rate may change at any time after the account is opened. IOLTA Fund Rate is higher of 60% of the Fed Funds Target Rate or 1.00%.
Accounts opened online require eBanking enrollment.