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Deposit
Investment Products
Our deposit investment products provide convenient,
high-quality investment alternatives at competitive rates.
Daily
Overnight Deposits
Our Daily Overnight Deposit program works like a traditional federal-funds
trade.
The rate is set when you make your transaction,
based on the current federal-funds market.
You can invest as little as $25,000 to start,
with increments of $5,000 thereafter. There is no maximum.
At maturity, your principal and interest are wired out or
credited to your IDEAL Way account, as you prefer.
Rollover
Ovenight Deposits
Our Rollover Overnight Deposit program provides
your most convenient way to manage short-term liquidity at
competitive rates.
You may deposit funds between 8:30 a.m. and
noon. The rate is set daily at 10 a.m., based on federal-funds
opening rates. Your funds roll over automatically until you
request withdrawal, or until funds are used to cover an IDEAL Way overdraft.
Interest accrues daily on an actual/360-day
basis and is paid monthly on the first business day of the
following month.
Short-Term Deposits Under $500,000
You may deposit funds between 10 a.m. and 2 p.m.
The rate is set at the time of transaction and is competitive with
the rate from commercial banks across New England.
Interest accrues daily on an actual/360-day basis
and is paid at maturity. There is no early withdrawal.
Short-Term Deposits Over $500,000
You may deposit funds between 10 a.m. and 2 p.m.
The rate is set at the time of transaction and is based on the term
fed-funds market, minus a spread.
Interest accrues daily on an actual/360-day basis
and is paid at maturity. There is no early withdrawal.
Long-Term Deposits
You may deposit funds between 10 a.m. and 2 p.m.
The rate is set at the time of transaction and is based on the agency
yield curve for the corresponding maturity, minus a spread.
Interest accrues daily on an actual/360 day basis.
Interest is paid every six months, with the final interest credited
at maturity. There is no early withdrawal.
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