Rates

All rates are subject to change without notice.
 

Deposit Rates

Deposit Rates

At Winchester Savings Bank, we are dedicated to providing our customers with savings and investment products that offer real value, along with the courteous one-on-one service you can only find at a true community bank.

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Rates Effective July 17, 2018

Savings and Checking Accounts*
DescriptionMinimum Balance to Open AccountMinimum Daily Balance to Earn APYInterest RateAnnual Percentage Yield (APY*)
Passbook Savings $10 $10 0.15% 0.15%
Statement Savings $10 $10 0.15% 0.15%
    $50,000 0.20% 0.20%
    $250,000 0.25% 0.25%
    $500,000 0.30% 0.30%
Vacation Club Account $1 $10 0.20% 0.20%
Holiday Club Account $1 $10 0.20% 0.20%
Free Checking $10
Student Checking $10
Interest Checking $10 $10 0.01% 0.01%
Nexus Checking $10 $10 0.01% 0.01%
Nexus Plus Checking $10 $10 0.05% 0.05%
Money Market Account*
DescriptionMinimum Balance to Open AccountMinimum Daily Balance to Earn APYInterest RateAnnual Percentage Yield (APY*)
Money Market Account $2,500 $10 0.15% 0.15%
    $50,000 0.20% 0.20%
    $250,000 0.45% 0.45%
    $500,000 0.65% 0.65%
Certificates of Deposit*
DescriptionInterest RateAnnual Percentage Yield (APY*)Nexus PreferredNexus Plus Preferred
Interest RateAPY**Interest RateAPY**
91 Day Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
0.20% 0.20% 0.25% 0.25% 0.30% 0.30%
182 Day Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
0.30% 0.30% 0.35% 0.35% 0.40% 0.40%
1 Year Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
0.45% 0.45% 0.50% 0.50% 0.55% 0.55%
13 Month Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
1.44% 1.45% 1.49% 1.50% 1.54% 1.55%
18 Month Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
1.88% 1.90% 1.93% 1.95% 1.98% 2.00%

2 Year Certificate
$500 Minimum to Open
$10 Minimum to Earn APY

2.33% 2.35% 2.37% 2.40% 2.42% 2.45%
3 Year Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
2.47% 2.50% 2.52% 2.55% 2.57% 2.60%
4 Year Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
2.52% 2.55% 2.57% 2.60% 2.62% 2.65%
5 Year Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
2.62% 2.65% 2.67% 2.70% 2.72% 2.75%
Individual Retirement Accounts (IRA)*
Description Interest RateAnnual Percentage Yield (APY*)Nexus PreferredNexus Plus Preferred
 Interest RateAPY**Interest RateAPY**
Variable Rate Retirement
$10 Minimum to Open
$10 Minimum to Earn APY
  0.30% 0.30%
IRA 1 Year Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
  0.45% 0.45% 0.50% 0.50% 0.55% 0.55%
IRA 13 Month Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
  1.44% 1.45% 1.49% 1.50% 1.54% 1.55%
IRA 18 Month Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
  1.88% 1.90% 1.93% 1.95% 1.98% 2.00%
IRA 2 Year Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
  2.33% 2.35% 2.37% 2.40% 2.42% 2.45%
IRA 3 Year Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
  2.47% 2.50% 2.52% 2.55% 2.57% 2.60%
IRA 5 Year Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
  2.52% 2.55% 2.57% 2.60% 2.62% 2.65%
IRA 7 Year Certificate
$500 Minimum to Open
$10 Minimum to Earn APY
  2.62% 2.65% 2.67% 2.70% 2.72% 2.75%

*Disclosures:

  • Passbook and Statement Savings, Club Accounts, Interest Checking, Nexus, Nexus Plus, Business Interest Checking, Money Market, and IRA Variable Rate Account rates are subject to change without notice after the account is opened, and the current rates are not guaranteed to continue to be available. Fees/charges could reduce earnings on these accounts.
  • The APY for Certificates of Deposit assumes principal and interest will remain on deposit until maturity.There will be a substantial penalty should the Bank consent to early withdrawals.
  • **Direct Deposit into a Nexus or Nexus Plus Checking Account is required to receive Preferred CD and IRA Rates. Available for personal accounts only.
  • The first $250,000 per depositor is insured by the Federal Deposit Insurance Corporation (FDIC), all deposits above this amount are insured by the Depositors Insurance Fund (DIF).
  • For more information, please refer to our Schedule of Service Charges and Understanding Your Deposit Account or All About Your Business Account disclosures.

Fixed Mortgage Loan Rates

Fixed Mortgage Loan Rates

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Rates Effective July 20 2018

Fixed-Rate Mortgages
 Interest RatePointsAPRMonthly Payment per $1000 borrowedNumber of Months
 30-Year Conventional 4.625% 0 4.656% $5.14 360
 20-Year Conventional 4.375% 0 4.421% $6.26 240
 15-Year Conventional 3.875% 0 3.933% $7.33 180
 10-Year Conventional 3.500% 0 3.585% $9.89 120
 3 to 8-Year Conventional 3.000% 0 3.268% $29.08 36
  3.000% 0 3.201% $22.13 48
  3.000% 0 3.161% $17.97 60
  3.000% 0 3.134% $15.19 72
  3.000% 0 3.115% $13.21 84
  3.000% 0 3.100% $11.73 96

APR = Annual Percentage Rate and is subject to change at any time.

Rates shown are based on a down payment of 20% or more on owner-occupied 1- to 4-family residences and a maximum loan amount of $453,101.

For all the above programs, these payments do not include amounts for taxes and insurance. The actual payment will be greater if taxes and insurance are included. Loans are available for properties located within a 20-mile radius of Winchester Savings Bank. Subject to credit approval and property appraisal. Rates, points and programs are subject to change at any time. This is not a commitment to lend.

Jumbo Fixed-Rate Mortgages
 Loan TypeInterest RatePointsAPRMonthly Payment per $1000 borrowedNumber of Months
30-Year Jumbo 4.500% 1 4.688% $5.07 360
  4.625% 0 4.784% $5.14 360
20-Year Jumbo 4.250% 1 4.519% $6.19 240
  4.500% 0 4.732% $6.33 240
15-Year Jumbo 3.875% 0 4.142% $7.33 180

APR = Annual Percentage Rate and is subject to change at any time.

Rates shown are based on a down payment of 25% or more on owner-occupied 1- to 4-family residences and loan amounts between $453,101 and $1,500,000.**

For all the above programs, these payments do not include amounts for taxes and insurance. The actual payment will be greater if taxes and insurance are included. Loans are available for properties located within a 15-mile radius of Winchester Savings Bank. Subject to credit approval and property appraisal. Rates, points and programs are subject to change at any time. This is not a commitment to lend.

*Fees paid prior to closing will be refunded at loan closing. If loan does not go to closing, those fees are non-refundable.
**Jumbo loans up to $598,000 may qualify for conventional loan rates, based on applicable underwriting guidelines.

Maximum Loan-to-Value (LTV)
61%-70% for loans up to $1,300,000
0-60% for loans >=$1,300,000
Lending policy dictates maximum loan amounts.

Questions?

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Adjustable Mortgage Loan Rates

Adjustable Mortgage Loan Rates

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Rates Effective July 20 2018

Adjustable-Rate Mortgages (ARM)
ProductIntroductory RatePointsAPRIntroductory PeriodAdjustment PeriodMonthly Payment per $1000 borrowed*
1-Year ARM 2.750% 1 2.893% 1 Year 1 Year

$4.08 for 12 months, then

$5.48 for 348 months

1-Year ARM 3.000% 0 3.118% 1 Year 1 Year

$4.22 for 12 months, then

$5.48 for 348 months

3-1 ARM 2.750% 1 2.893% 3 Years 1 Year

$4.08 for 36 months, then

$5.48 for 324 months

3-1 ARM 3.000% 0 3.118% 3 Years 1 Year

$4.22 for 36 months, then

$5.48 for 324 months

5-1 ARM 3.250% 1 3.410% 5 Years 1 Year

$4.35 for 60 months, then

$5.48 for 300 months

5-1 ARM 3.500% 0 3.635% 5 Years 1 Year

$4.49 for 60 months, then

$5.48 for 300 months

7-1 ARM 3.500% 1 3.668% 7 Years 1 Year

$4.49 for 84 months, then

$5.48 for 276 months

7-1 ARM 3.750% 0 3.893% 7 Years 1 Year

$4.63 for 84 months, then

$5.48 for 276 months

10-1 ARM 3.750% 1 3.927% 10 Years 1 Year

$4.63 for 120 months, then

$5.48 for 240 months

10-1 ARM 3.990% 0 4.141% 10 Years 1 Year

$4.77 for 120 months, then

$5.48 for 240 months

APR = Annual Percentage Rate and is subject to change at any time.

Current Index: 2.430%
Margin: 2.750%
Caps: 2% at each adjustment; 6% LIfetime
The maximum repayment term is 30 years.

Rates shown are based on a down payment of 20% or more on owner-occupied 1- to 4-family residences and a maximum loan amount of $424,100.

*Payments during the introductory period are based on the introductory rate; subsequent payments are based on the fully-indexed rate, which is based on the current index and margin.
**Fees paid prior to closing will be refunded at loan closing. If loan does not go to closing, those fees are non-refundable.

For all the above programs, these payments do not include amounts for taxes and insurance. The actual payment will be greater if taxes and insurance are included. Loans are available for properties located within a 20-mile radius of Winchester Savings Bank. Subject to credit approval and property appraisal. Rates, points and programs are subject to change at any time. This is not a commitment to lend.

Condominiums must be owner-occupied and located within a 10-mile radius of Winchester Savings Bank's Main Office.

First-Time Home Buyer* Mortgages
ProductIntroductory RatePointsAPRIntroductory PeriodAdjustment PeriodMonthly Payment per $1000 borrowed***
3-1 ARM 2.750% 0 2.860% 3 Years 1 Year

$4.08 for 36 months, then

$5.48 for 324 months

5-1 ARM 3.250% 0 3.377% 5 Years 1 Year

$4.35 for 60 months, then

$5.48 for 300 months

7-1 ARM 3.500% 0 3.635% 7 Years 1 Year

$4.49 for 84 months, then

$5.48 for 276 months

10-1 ARM 3.750% 0 3.893% 10 Years 1 Year

$4.63 for 120 months, then

$5.48 for 240 months

Concessions made by Winchester Savings Bank to benefit the First Time Home Buyer:

  • No points
  • No Appraisal Fee**
  • No Credit Report Fee**

APR = Annual Percentage Rate and is subject to change at any time.

Current Index: 2.430%
Margin: 2.750%
Caps: 2% at each adjustment; 6% LIfetime
The maximum repayment term is 30 years.
Closing costs apply.

*Neither borrower nor co-borrower can have owned real estate used as a primary residence or as a second home in the past three (3) years.
Rates shown are based on a down payment of 20% or more on owner-occupied 1- to 4-family residences and a maximum loan amount of $424,100.

**Must be owner-occupied purchase. Borrower must pay an Appraisal Fee and a Credit Report Fee which will be refunded if the loan goes to closing. If there is no loan closing, the funds will be applied as a payment for that fee.

***Payments during the introductory period are based on the introductory rate; subsequent payments are based on the fully-indexed rate, which is based on the current index and margin.

For all the above programs, these payments do not include amounts for taxes and insurance. The actual payment will be greater if taxes and insurance are included. Loans are available for properties located within a 20-mile radius of Winchester Savings Bank. Subject to credit approval and property appraisal. Rates, points and programs are subject to change at any time. This is not a commitment to lend.

Questions?

Contact our Residential & Personal Loan Department

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Home Equity Rates

Home Equity Line of Credit

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Available for 1- to 4-family owner-occupied residences

Rates Effective:  July 1, 2018

Terms: Monthly Variable; Interest-only repayment; Lines from $25,000 - $250,000; Draw Period: 15 Years; Discharge of equity line mortgage within the first 24 months may result in payment of a fee.

Variable Periodic Rate

The ANNUAL PERCENTAGE RATE ("APR") will be the Prime Rate minus three-quarters of one percentage point (.75%). The billing APR may vary monthly based on the Prime Rate as published in the Wall Street Journal on the last business day of each month. In the event that more than one rate is published as the "Prime Rate," we will use the highest rate so published.

Prime Rate as of  June 29, 2018 is 5.00%. Current APR: 4.25%. Minimum APR: 2.99%. Maximum APR: 15.50%

Home Equity Fixed Rate Loan

Rates Effective:  July 1, 2018

Home Equity Loan Rates
Loan TermInterest RateMonthly Payment per $1000 borrowed*
5 Years 3.25% APR $18.08
10 Years 3.99% APR $10.12
15 Years 4.375% APR $7.59
20 Years 5.125% APR $6.67

Nexus Relationship Banking: Winchester Savings Bank will discount the interest rate on your HOME EQUITY FIXED RATE LOAN 1/8 of one percentage point for simply having or establishing a Nexus banking relationship, or 1/4 of one percentage point for having or establishing a Nexus Plus banking relationship. Please contact us for more details.

APPLICABLE TO ALL HOME EQUITY LINES/LOANS

  • Home Equity Line of Credit currently offered with low closing costs*.
  • Home Equity Fixed Rate Loans are currently offered with low closing costs* for minimum loan amounts of $20,000.
  • A Good Faith Itemization of Fees is available for Fixed-Rate Loans only and can be requested from our Consumer Loan Department.
  • Property insurance is required sufficient to cover the Equity Line/Loan and any first mortgage lien.
  • Maximum Loan-to-Value: 80%

*Low closing costs are limited to trust review and recording costs ranging from $75 to $1500 when the collateral property is held in a trust, appraisal costs ranging from $375 to $575 when a full appraisal is necessary, or additional fees required to properly record the mortgage.  Property insurance required.  Flood insurance and other fees may be required.

Questions?

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Personal Loan Rates

Personal Loan Rates

Auto loans, Unsecured Personal Loans, Overdraft Protection, and Winchester Savings Bank CD- or passbook-secured loans; these are the Personal loan products that are available to our customers. We offer very competitive rates, quick response to your credit request, and exceptional customer service. Your community bank is looking forward to assisting you with your credit needs.

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Rates Effective:  July 1, 2018

Unsecured Personal Loan Rate
Loan TypeAnnual Percentage Rate (APR)Maximum TermMinimum PaymentMonthly Payment Per $1,000 Borrowed
Unsecured Personal Loan*
($1,000 - $5,000)
14.50%

36 months

$75 12 months - $90.02
24 months - $48.25
36 months - $34.42
Overdraft Protection
Overdraft Protection APR: 13.75%; Lines from $500 - $2,000 Minimum payment $25.00
Collateral Loan Rate
Loan TypeAnnual Percentage Rate (APR)Features
Collateral Loan* 5.00% over what the Winchester Savings Bank CD or passbook being held as collateral is currently earning**
  • Principal payback determined by the customer
  • Interest billed quarterly
  • Minimum loan amount $500.00

*Requires a Winchester Savings Bank deposit or loan relationship in good standing of at least 6 months.
**The APR may increase after consumation if the ANNUAL PERCENTAGE RATE paid on the account being held as collateral increases.

Vehicle Loan Rates - New
Model Year VehicleMaximum Term in MonthsAnnual Percentage Rate (APR)Monthly Payment per $1,000 Borrowed
2018 - 2017 12 2.50% $84.47
  24 2.625% $42.82
  36 2.75% $28.97
  48 2.875% $22.08
  60 3.00% $17.97
Vehicle Loan Rates - Used
Model Year VehicleMaximum Term in MonthsAnnual Percentage Rate (APR)Monthly Payment per $1,000 Borrowed
2016 - 2011 12 3.25% $84.81
  24 3.375% $43.15
  36 3.50% $29.31
  48 3.625% $22.41
  54 3.75% $20.15

DISCOUNTS for New and Used Vehicle Loans

Winchester Savings Bank will discount the interest rate on new or used vehicles by 5/8 of one percentage point for having or establishing a Nexus banking relationship, or 3/4 of one percentage point for having or establishing a Nexus Plus banking relationship. Please contact us for details.

DOWN PAYMENT REQUIREMENT

  • New Vehicle, Model Year 2018 with fewer than 5,000 miles: 5.00%
  • New Vehicle, Model Year 2017 with fewer than 1,000 miles: 5.00%
  • Used Vehicle, Model Years 2018 - 2014: 10.00%
  • Used Vehicle, Model Years 2013 - 2011: 30.00%

Vehicle values are determined by the NADA Car Guide
Monthly payment based on 30 days to first payment
No Lease Buyouts or Salvage/Auction Titles.

Fire, Theft and Collision Insurance with a maximum deductible of $500 is required
Private Sale Transactions require Buyer & Seller to be present at Main Branch closing

Refinances:  Mass DOT Amend a Title Fee  is $25.

MINIMUM LOAN AMOUNT:   $5,000
MINIMUM LOAN PAYMENT:   $100/month

Questions?

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