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Business Account Interest Rates - Effective as of September 26, 2023

Money Market Accounts1

Deposit SolutionMinimum Required To Open Interest Crediting Frequency Balance Required for Stated RateVariable Interest Rate* Annual Percentage Yield
Marketfund$1,000.00MonthlyAll0.30%0.30%
Premium Fund$2,500.00MonthlyBelow $10,000
$10,000-$24,999.99
$25,000-$49,999.99
$50,000 & Over
0.25%
0.35%
0.45%
0.60%
0.25%
0.35%
0.45%
0.60%
Money Market Plus$5,000MonthlyBelow $10,000
$10,000-$24,999.99
$25,000-$49,999.99
$50,000-$99,999.99
$100,000 & Over
0.25%
0.35%
0.45%
0.55%
0.65%
0.25%
0.35%
0.45%
0.55%
0.65%
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    At our discretion we may change the interest rate and annual percentage yield (APY) on your account at any time. If you close your account before interest is credited, you will not receive the accrued interest. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Fees could reduce earnings on the account. Refer to  Fee Schedule (PDF) for applicable fees (e.g. Overdraft Fees, Stop Payment Fees, Dormant Fees, etc.).  

Business Checking1

Deposit SolutionMinimum Required To Open Interest Crediting Frequency Balance Required for Stated RateVariable Interest Rate* Annual Percentage Yield
Business Checking Plus$100.00MonthlyBelow $100,000
$100,000 & Over
0.01%
0.01%
0.01%
0.01%
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    At our discretion, we may change the interest rate and annual percentage yield (APY) on your account at any time.

    Normal fees listed in the Fee Schedule apply (OD/NSF, Stop Payment Fees, etc.) 

    Statement includes 50 check images, $.02 per image over 50. 

    Flexible, tiered interest rate plans. If your daily balance falls within any tier, the corresponding rate will be applied to the entire balance in your account. If you close your account before interest is credited, you will not receive the accrued interest. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks).

Savings1

Deposit SolutionMinimum Required To Open Interest Crediting Frequency Balance Required for Stated RateVariable Interest Rate* Annual Percentage Yield
Statement Savings$100.00MonthlyAll0.05%0.05%
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    At our discretion we may change the interest rate and annual percentage yield (APY) on your account at any time. If you close your account before interest is credited, you will not receive the accrued interest. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Fees could reduce earnings on the account. Refer to  Fee Schedule (PDF) for applicable fees (e.g. Dormant Fees, etc.). 

Certificate of Deposit (CD) -- Fixed Rate1

Time Deposit$500-$4,999
Fixed/APY Interest Rate
$5,000-$49,999
Fixed/APY Interest Rate
$50,000-$89,999
Fixed/APY Interest Rate
$90,000+
Fixed/APY Interest Rate
13 Month CD Special24.40 / 4.504.40 / 4.504.40 / 4.504.40 / 4.50
32 Day CD0.35/0.35%0.35/0.35%0.35/0.35%0.35/0.35%
60 Day CD0.35/0.35%0.35/0.35%0.35/0.35%0.35/0.35%
90 Day CD0.40/0.40%0.45/0.45%0.50/0.50%0.60/0.60%
6 Month CD0.60/0.60%0.70/0.70%0.75/0.75%0.80/0.80%
9 Month CD0.70/0.70%0.80/0.80%0.85/0.85%0.90/0.90%
12 Month CD1.05/1.06%1.19/0.1.20%1.24/1.25%1.39/1.40%
18 Month CD1.39/1.40%1.54/1.55%1.64/1.65%1.78/1.80%
24 Month CD1.78/1.80%1.88/1.90%1.98/2.00%2.08/2.10%
30 Month CD2.08/2.10%2.23/2.25%2.32/2.35%2.52/2.55%
36 Month CD2.52/2.55%2.62/2.65%2.71/2.75%3.00/3.05%
48 Month CD2.62/2.65%2.71/2.75%2.81/2.85%3.10/3.15%
60 Month CD2.71/2.75%2.81/2.85%3.00/3.05%3.30/3.35%
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    The Annual Percentage Yield (APY) assumes that the interest remains on deposit until maturity. A withdrawal will reduce the APY. Interest compounds daily, using the daily balance method. There will be an interest penalty charged for any early withdrawal or redemption. This penalty may reduce principal. The amount of the early withdrawal penalty on the amount withdrawn is 30 days interest if the term is less than 90 days, 90 days interest if term is equal to or greater than 90 days and less than 12 months, 180 days interest if term is equal to or greater than 12 months and less than 24 months, 270 days interest if term is equal to or greater than 24 months and less than 60 months, and 365 days interest if the term is equal to or greater than 60 months. Additional fees could also reduce the earnings. Refer to  Fee Schedule (PDF) for applicable fees (e.g. Dormant Fees, etc.).

     

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    $10,000 minimum deposit. New money required. Limited time only. New money is defined as funds not previously held on deposit by Kitsap Bank within the past 30 days. Original 13 Month term will automatically renew at 12-month rate and term if no action is taken at maturity.

     

Certificate of Deposit (CD) -- Variable Rate1

Time DepositMinimum Required To Open Interest Crediting Frequency Balance Required for Stated RateVariable Interest Rate* Annual Percentage Yield
6 Month and Above$500.00QuarterlyAll0.50%0.50%
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    At our discretion, we may change the interest rate on your account. The Annual Percentage Yield (APY) assumes that the interest remains on deposit until maturity. A withdrawal will reduce the APY. Interest compounds daily, using the daily balance method. There will be an interest penalty charged for any early withdrawal or redemption. This penalty may reduce principal; the interest rate used to calculate the early withdrawal penalty will be the interest rate in effect at the time of withdrawal.  The amount of the early withdrawal penalty on the amount withdrawn is 30 days interest if the term is less than 90 days, 90 days interest if term is equal to or greater than 90 days and less than 12 months, 180 days interest if term is equal to or greater than 12 months and less than 24 months, 270 days interest if term is equal to or greater than 24 months and less than 60 months, and 365 days interest if the term is equal to or greater than 60 months. Additional fees could also reduce the earnings. Refer to Fee Schedule (PDF) for applicable fees (e.g. Dormant Fees, etc.).