Savings Accounts and Certificates of Deposit
Interested in earning interest? You’ve come to the right place! At Naugatuck Valley Savings and Loan, you have powerful savings tools at competitive rates:
Certificates of Deposit (CDs)
- CDs are our highest-paying savings instruments.
- Terms from 91 days to five years.
Additional deposits cannot be made to certificates before they have matured and a penalty may be imposed for withdrawal before maturity. There is a seven-day grace period following the day of maturity during which you are allowed to make deposits or withdrawals without penalty, otherwise the funds in the certificate will roll over for another full term. Interest can be credited to your certificate each month or you may elect to receive a monthly interest check or you may elect to have the interest credited to another account (other than a certificate of deposit).
Money Market Savings Accounts
- Competitive interest rates
- FREE Online Banking
- Online Bill Pay
- No or low monthly account maintenance fees
- No or low minimum balances to avoid fees
- No ATM fees for No SUR! Network ATMs
- No check cashing fees
- No transaction or per-check fees
- FREE 24-hour telephone banking
- Convenient banking by mail and Direct Deposit
A higher-than-Passbook interest rate is paid to Money Market account holders on balances of $1,000 or more.
Customers may choose a Passbook or Limited Check Writing account to receive an interest rate higher than a NOW Account. NOW Account rates are paid on balances under $1,000. Accounts must be opened with an initial minimum deposit of $1,000. Passbook interest is variable and compounded continuously. Limited Check Writing account interest is compounded and credited monthly.
Account Terms and Conditions subject to change. See our Rate Disclosure information at your nearest Naugatuck Valley Savings and Loan office.
