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Add a Boost To Your Savings
Signature Money Market Statement Account
Rate available for account balances below to $100,000.
Add a Cash Bonus To Your Account
When You Bank With TSB
Open a new checking account to receive up to $100 with qualifying activities2.
Signature Money Market Account Disclosures
1Offer valid for new Signature Money Market Statement account with a minimum opening balance of $2,500.00 in new money. The premium rate is guaranteed until June 30, 2022, at which time the account will revert to the Hometown Money Market Statement with the current rate. New money is defined as money not currently on deposit with Torrington Savings Bank. This is a tiered rate account. Rates and Annual Percentage Yields (APYs) accurate as of 8/9/2021. Balances below $100,000.00 will earn the stated higher rate of 0.25% APY/0.25% rate and balances of $100,000.00 and over will earn the lower stated rate of 0.10% APY/0.10% rate. The rates and APYs are variable and may change at any time after the guarantee period as determined by us. The interest rate for your account may change daily depending on the current balance of your account. Interest will be compounded daily and credited to your account on the last business day of the month. If you close your account before interest is credited, you will receive the accrued interest.
You may not transfer or deposit funds into this account that are currently on deposit with Torrington Savings Bank either in person or online. View only access is available through Online Banking and Mobile Banking. Balance information also available through Voice Response. ATM access is not available with this product. A maintenance service charge of $10.00 will be assessed if the average daily balance for the monthly statement cycle falls below $2,500.00. A paper statement fee of $5.00 will be charged each monthly statement cycle. This fee will be waived for the first two statement cycles. Permanent fee waiver if enrollment of e-statements is done through Online Banking. See our Common Fee Schedule for other fees that may apply. For additional information governing your account with Torrington Savings Bank, please refer to your Consumer Deposit Account Agreement and applicable disclosures.
Business accounts are not eligible for Signature Money Market Statement account.
Checking Account Cash Bonus Offer Details
Hometown Checking: The minimum deposit required to open the account is $100.00 and is a non-interest bearing account. No minimum balance required.
Advantage Now Checking: The minimum deposit required to open the account is $100.00. As of 8/9/2021, 0.050% APY/0.050 Rate. Maintain a balance of $250.00 to avoid $5.00 Monthly Service Charge.
Advantage 50 Checking: A personal checking account for ages 50 and over. The minimum deposit required to open the account is $100.00. As of 8/9/2021, 0.050% APY/0.050 Rate. No minimum balance required.
My Generation Checking: A personal checking account for ages 16 to 30. Customers under the age of 18 require a parent/legal guardian as a co-owner on the account. The minimum deposit required to open the account is $50.00 and is a non-interest-bearing account. No minimum balance required. A paper statement fee of $5.00 will be charged each monthly statement cycle. This fee will apply if enrollment in e-statements is not done through Online Banking within 30 days of account opening.
2 To receive the bonus, open a new Torrington Savings Bank Hometown Checking, Advantage Now Checking, Advantage 50 Checking and My Generation Checking account between 8/9/2021 and 11/30/2021 and make a minimum of 2 direct deposits totaling $500.00 or more within the first 3 statement cycles. Your new eligible Torrington Savings Bank checking account must remain open to receive cash bonus payment. Payment will be made no later than the fourth statement cycle. “Eligible Customers” cannot currently be a tax reporting owner of a Torrington Savings Bank consumer checking account and must be at least 16 years old. Offer available only in person in the Bristol Branch of Torrington Savings Bank located at 888 Farmington Avenue Bristol, CT. Limit one bonus payment per customer. Bonus offers are not available to employees, directors or immediate family of employees and directors of Torrington Savings Bank and any of its affiliates or vendors.
Important Tax Information – Bonus will be reported to the IRS as interest to the Tax owner of the eligible account in the year received, as required by applicable law. Bonus payments received by U.S. persons will be reported on IRS form 1099-INT. Bonus payments received by a non-U.S. person will be reported on a 1042-S. Customer is responsible for any applicable taxes and consulting a tax advisor.
Fees may reduce earnings, please refer to Terms and Conditions for additional information that may apply to your account.