Professional, experienced business bankers are ready to assist you and your business in achieving the optimum return with a business banking partnership with Bank of New England.
At Bank of New England, we pride ourselves on providing exceptional service and personal attention to each clients' unique needs.
As a commercial depositor, our Business Checking Account is a convenient, inexpensive way to handle your financial record-keeping requirements. No minimum balance requirement. Statements mailed monthly.
Money Market Accounts are available to all our customers. They offer an excellent way for you to have instant access to your investment funds while enjoying a competitive rate of interest.
The IOLTA Program funds critical services in local communities. Interest earned on these accounts supports the Bar Foundation's statewide IOLTA Grants Program. Through IOLTA grants, tens of thousands of our most vulnerable citizens receive free or low cost civil legal services. IOLTA grants fund educational programs that teach our youth and the public about the law and the justice system.
Certificates of Deposit are available to all our customers. They offer an excellent way for you to safeguard your investment funds and earn high rates while building capital or providing current income. Interest compounding monthly (for CD terms in excess of six months). Interest rate guaranteed for term of investment. Automatic renewal option at maturity. Balances insured by the FDIC up to the maximum allowed by law. Penalty for early withdrawal may apply.
Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.
EACH time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for each individual that has beneficial ownership (25% or more) and one individual that has significant managerial control of the Legal Entity.
If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge. We proudly support all efforts to protect and maintain the security of our customers and our country.
| Term | Interest Rate | APY |
|---|---|---|
| 1 MONTH | 0.25% | 0.25% |
| 3 MONTHS | 0.25% | 0.25% |
| 6 MONTHS | 1.50% | 1.51% |
| 12 MONTHS | 3.20% | 3.25% |
| 15 MONTHS | 3.20% | 3.25% |
| 18 MONTHS | 3.00% | 3.04% |
| 2 YEAR | 2.75% | 2.78% |
| 3 YEAR | 2.25% | 2.27% |
| 4 YEAR | 2.25% | 2.27% |
| 5 YEAR | 2.25% | 2.27% |
APR - Annual Percentage Rate | APY - Annual Percentage Yield
Annual Percentage yield reflects monthly compounding over full term of Certificates of Deposit. Please contact a bank representative for applicable rates and documentation required for IRA certificates of deposit.
$500 Minimum Balance Required, unless otherwise noted.
Substantial penalty for early withdrawal may apply. Fees may reduce earnings.
All rates are effective as of 04/01/2024 and are subject to change without notice.