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Magna Bank offers a range of deposit and loan products to meet your needs. Deposit interest rates vary by product or length of CD term. Loan rates are based on credit history and equity in collateral. We also offer great promotional rates from time-to-time. Please contact a Magna Bank representative to obtain more details on all our product offerings and interest rates. In the meantime, we have listed some selected rates in which you may be interested. Selected Interest Rates |
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| Deposit Rates | |||
| Product | Minimum Balance | Interest Rate | Annual Percentage Yield (APY) |
| Relationship Checking | $100 | 0.90% | 0.90% |
| High Yield Money Market | $50,000 | 2.25% | 2.25% |
| 6 Month CD | $1,000 | 2.83% | 2.85% |
| 9 Month CD | $1,000 | 2.74% | 2.75% |
| 12 Month CD | $1,000 | 2.60% | 2.60% |
| 18 Month CD | $1,000 | 2.69% | 2.70% |
| 24 Month CD | $1,000 | 2.70% | 2.70% |
| Loan Rates | |||
| Product | Minimum Loan Amt | Annual Percentage Rate (APR) | Comment |
| Home Equity Line of Credit | $10,000 | WSJ Prime less .25% | WSJ Prime 5.00% as of 5/01/08 |
| Home Equity Loan | $10,000 | 7.50% | No escrow |
Stated interest rates are applicable to personal products only. Not all deposit accounts are available for IRA's. Fees may reduce earnings. Deposit and loan rates are subject to change daily. New account opening and loan underwriting requirements apply. Other rates and terms available.
