Rates
Rewards Checking
| Tier | Interest Rate | APY* |
|---|---|---|
| $0 - $10,000 | 2.08% | 2.10% |
| $10,000 and up | 0.25% | 0.25% |
| Qualifications not met | 0.01% | 0.01% |
Certificates of Deposit (CDs)
Rates effective as of April 20, 2012.
| Term | Minimum Balance | APY* |
|---|---|---|
| 6 months | $1,000 | 0.20% |
| 12 months | $1,000 | 0.25% |
| 18 months** | $1,000 | 0.45% |
| 24 months | $1,000 | 0.70% |
| 36 months | $1,000 | 1.00% |
| 48 months | $1,000 | 1.25% |
*APY=Annual Percentage Yield. Rates subject to change without notification. Minimum balance to open and earn dividends on Share Certificate of Deposit is $1,000. A penalty may or will be charged for early withdrawal for the share certificate of deposit.
**Rate available to new money Share Certificates only.
Saver
| Tier | Interest Rate | APY* |
|---|---|---|
| $0 - $10,000 | 0.747% | 0.75% |
| $10,000 and up | 0.25% | 0.25% |
| Qualifications not met | 0.10% | 0.10% |
*APY=Annual Percentage Yield.
Savings Accounts
| Accounts | Average Daily Balance | APY* |
|---|---|---|
| Savings Account | N/A | 0.10% |
| Money Market Accounts | $2,500 - $4,999 | 0.25% |
| $5,000 - $9,999 | 0.25% | |
| $10,000 - $24,999 | 0.25% | |
| $25,000 - $49,999 | 0.25% | |
| $50,000 plus | 0.25% | |
| Holiday Club | N/A | 0.10% |
| Vacation Club | N/A | 0.10% |
| Student-Branch Mini-Market Accounts | $25 - $249 | 0.25% |
| $250 - $499 | 0.25% | |
| $500 - $999 | 0.25% | |
| $1,000 - $1,999 | 0.20% | |
| $2,000 - $2,500 | 0.25% |
*APY=Annual Percentage Yield.
Individual Retirement Accounts (IRAs)
Rates effective as of April 20, 2012.
| Term | Minimum Balance | APY* |
|---|---|---|
| IRA Savings Account | $100 | 0.10% |
| 6 months Share Certificate | $1,000 | 0.20% |
| 12 months Share Certificate | $1,000 | 0.25% |
| 24 months Share Certificate | $1,000 | 0.70% |
| 36 months Share Certificate | $1,000 | 1.00% |
| 48 months Share Certificate | $1,000 | 1.25% |
*APY=Annual Percentage Yield. Rates subject to change without notification. Minimum balance to open and earn dividends on share certificate of deposit is $1,000. A penalty may or will be charged for early withdrawal for the share certificate of deposit.
Auto Loans
Rates effective as of May 1, 2012.
New Auto Loans
| Term | APR* |
|---|---|
| up to 24 months | 2.99% |
| up to 36 months | 2.99% |
| up to 48 months | 2.99% |
| up to 60 months | 3.24% |
| up to 72 months | 3.74% |
| up to 84** months | 4.74% |
*APR = Annual Percentage Rate.
**Credit score of 680+ only as well as 2010 & newer
Used Auto Loans
| Term | Description | APR* |
|---|---|---|
| up to 24 months | 2004 & Newer | 3.49% |
| up to 36 months | 2004 & Newer | 3.49% |
| up to 48 months | 2000-2005 & Newer | 3.49% |
| up to 60 months | 2006-2007 & Newer | 3.74% |
| up to 72 months | 2008-2009 & Newer | 4.24% |
| up to 84** months | 2010 & Newer | 5.24% |
*APR = Annual Percentage Rate.
**Credit score of 680+ only as well as 2010 & newer
Vacation Loan
Rates effective as of May 1, 2012.
| Borrow Amount | Term | APR* |
|---|---|---|
| up to $10,000 | up to 24 months | 6.99% |
*APR = Annual Percentage Rate
Personal Loans
Rates effective as of May 1, 2012.
| Borrow Amount | Term | APR* |
|---|---|---|
| up to $10,000 | up to 48 months | 9.95% |
*APR = Annual Percentage Rate
Share Secured Loans
Rates effective as of May 1, 2012.
| Borrow Amount | Term | APR* |
|---|---|---|
| N/A | up to 48 months | 3.00% |
*APR = Annual Percentage Rate
1st Mortgages
We are affiliated with Huntington Mortgage. Call 732-727-3500 ext. 220 for information.
Home Equity Open Line of Credit
Rates effective as of May 1, 2012.
$250,000 Max
Up to 80% Equity
| Description | Term | APR* |
|---|---|---|
| Fixed Rate | 5 years | 3.99% |
| Variable Rate | 10 years | 3.99% |
| Variable Rate | 15 years | 3.99% |
Home Equity Loans (2nd Mortgage)
Rates effective as of May 1, 2012.
| Description | Term | APR* |
|---|---|---|
| Fixed Rate | 5 years | 4.00% |
| Fixed Rate | 10 years | 4.25% |
| Fixed Rate | 15 years | 4.50% |
| Fixed Rate | 20 years | 5.00% |
*APR=Annual Percentage Rates. Rates for new loans only, available to RBFCU Members only and are accurate as of April 1, 2012. Loans do not apply to current home equity loans, members will need to reapply for current rates. The rates that we offer may change at anytime without notification and is tied to prime. Rates quoted are lowest for qualified applicants. Application is only good for 30 days from date of submission. Loans are only offered for New Jersey primary residence properties only. The actual interest rate offered is based on our review of your credit history. Maximum borrow amount is $250,000 or up to 80% equity in your home, which ever is less. There is no application fee or charge. The Credit Union requires that you must carry insurance on the property that secures this plan and you must name Raritan Bay Federal Credit Union as loss payee.
**Currently a floor rate of 3.99%APR has been established for the variable rate Home Equity Line of Credit. Minimum Rate is 3.99% APR for 5, 10 or 15 year Home Equity Line of Credit for fixed or variable loan types. The interest rate for the fixed 5 year Home Equity Line of Credit will never change throughout the life of the loan. The maximum APR that may be imposed on any variable rate loan is 18%. The draw period will be determined by the length of your loan. During the draw period, payments will be due monthly and payment will be calculated to pay off the loan balance in approximately equal monthly payments by the maturity date. The interest will begin to accrue when money is taken from the line of credit. Initial and subsequent advance amounts of $500 are required. For variable rate loans, the rate will change quarterly based on the prime rate from the Wall Street Journal as of the 15th of the month before the change date. The current rates for 2nd Mortgages are 4.00% APR for 5 year fixed loan, 4.25% APR for 10 year fixed loan, 4.50% APR for 15 year fixed loan and 5.00% APR for 20 year fixed loan. Your loan payments will be due monthly and payments will be calculated to pay off the loan balance in approximately equal monthly payments by the maturity date. Your interest rate on a fixed 2nd Mortgage will never change throughout the life of your loan.
Visa Platinum
Rates effective as of May 1, 2012.
| APR* for Purchases | As Low As 9.99% APR* |
| Other APR's* | Default Rate**: 18% APR* |
| Method of Computing the Balance | Average Daily Balance Method (including new purchases)** |
*APR = Annual Percentage Rate. Interest rates and credit limits based on income and credit qualifications.
**If your payment is 60 days late.
This APR may also be applied to your account if you:
1) Make a late payment;
2) Make a payment that is returned; or
3) Do any of the above on another account that you have with us.
If your APR is increased for any of these reasons, the Penalty APR will apply until you make six consecutive minimum payments when due.
Fees
| Type | Amount |
|---|---|
| Annual Fee | None |
| Cash Advance Fee | Over the Counter: 2%, $10 max ATM: 1%, $5 max |
| Balance Transfer Fee | None |
| Late Payment | $25 |
| Bounced Payment | $25 |
| Card Replacement | $20 |
