Skip to main contentor please stop by one of our convenient locations.

services banner

Rates

Last Updated 
< dnn:CurrentDate runat="server" id="dnnCurrentDate">

 

Certificates of Deposit IRA Accounts Savings Accounts Checking Accounts
Mortgage Loans Home Equity Loans Construction Loans Auto/Consumer Loans

Certificates of Deposit

Term Interest Rate Paid APY Interest
Compounded/Credited
3 Month 0.20% 0.20% Daily/Monthly
6 Month 0.30% 0.30% Daily/Monthly
7 Month 0.32% 0.32% Daily/Monthly
9 Month 0.35% 0.35% Daily/Monthly
12 Month 0.49% 0.49% Daily/Monthly
15 Month 0.55% 0.55% Daily/Monthly
18 Month 0.60% 0.60% Daily/Monthly
24 Month 1.04% 1.05% Daily/Monthly
30 Month 1.39% 1.40% Daily/Monthly
36 Month 1.29% 1.30% Daily/Monthly
48 Month 1.73% 1.75% Daily/Quarterly
60 Month 1.98% 2.00% Daily/Quarterly

APY = Annual Percentage Yield.
Rates are subject to change without notice. Please call us at 908-647-4000 for current interest rates and further information about applicable fees and terms. Minimum balance of $500.00 required to open the account and earn interest. No deposits or withdrawals allowed after account opening other than earnings until the maturity date. Early Withdrawal Penalties may apply to all Certificates of Deposits: For Terms up to including 12 Months, the fee is 1 Month Interest; for Terms over 12 Months, the fee is 6 Months Interest. The Annual Percentage Yield assumes interest remains until maturity. Fees may reduce earnings and partial loss of principal.

Individual Retirement Accounts (IRAs)

Term Interest Rate Paid APY Interest
Compounded/Credited
18 Month Fixed* 0.70% 0.70% Daily/Monthly
18 Month Variable** 0.65% 0.65% Daily/Monthly
6 Month IRA CD 0.40% 0.40% Daily/Monthly
7 Month IRA CD 0.42% 0.42% Daily/Monthly
9 Month IRA CD 0.45% 0.45% Daily/Monthly
12 Month IRA CD 0.59% 0.59% Daily/Monthly
15 Month IRA CD 0.64% 0.64% Daily/Monthly
24 Month IRA CD 1.14% 1.15% Daily/Monthly
30 Month IRA CD 1.49% 1.50% Daily/Monthly
36 Month IRA CD 1.39% 1.40% Daily/Monthly
48 Month IRA CD 1.83% 1.85% Daily/Quarterly
60 Month IRA CD 2.07% 2.09% Daily/Quarterly

APY = Annual Percentage Yield.
Rates are subject to change without notice. Please call us at 908-647-4000 for current interest rates and further information about applicable fees and terms. For this account the interest rate and Annual Percentage Yield may change at any time and without notice after the account is opened. Minimum balance of $500.00 required to open the account and earn interest, except for 18 Month Fixed IRA and 18 Month Variable IRA. Early Withdrawal Penalties may apply to all Certificates of Deposits: For Terms up to including 12 Months, the fee is 1 Month Interest; for Terms over 12 Months, the fee is 6 Months Interest. The Annual Percentage Yield assumes interest remains until maturity. Fees may reduce earnings, and partial loss of a principal.
*$250.00 required to open the account and earn disclosed APY.
**$250.00 required to open the account; $100.00 required to earn disclosed APY.

Savings Rates

Account Minimum Balance to Open Minimum Balance to Obtain APY Interest Rate Paid APY
Passbook Savings $50.00 $50.00
0.15% 0.15%
Statement Savings $50.00 $50.00
0.12% 0.12%
Money Market Savings $1,000.00 $50.00
0.15% 0.15%
Holiday Club No minimum $2.00
0.15% 0.15%
Opportunity Savings* $50.00 $50.00 or more On Balances At and Above 0.12% 0.12%


$10,000.00 0.14% 0.14%


$25,000.00 0.15% 0.15%


$50,000.00 0.16% 0.16%


$75,000.00 0.18% 0.18%


$100,000.00 0.20% 0.20%


$500,000.00 0.25% 0.25%

APY = Annual Percentage Yield. Please call us at 908-647-4000 for current interest rates and further information about applicable fees and terms. Daily Balance is the amount of principle in the account each day. Fees may reduce earnings. You must maintain the minimum balance to receive disclosed APY. Interest compounded daily and credited monthly, except for Passbook Savings Account where interest is credited quarterly. Savings Accounts are variable rate accounts and the interest rates and APY are subject to change at any time. Regulatory transaction limitations may apply to all Savings Accounts.

* You must maintain the minimum tier balance in the account each day in order to obtain the disclosed APY for that particular tier.

Checking Rates

Account Minimum Balance to Open Minimum Balance to Obtain APY Interest Rate Paid APY
Value Checking $50.00 None None None
NJ Consumer Checking* $50.00 None None None
Personal Money Market** $1,000.00 None 0.05% 0.05%


$1,000.00 or more 0.23% 0.23%
Interest Checking*** $100.00 None On Balances At and Above 0.05% 0.05%


$100,000.00 0.15% 0.15%


$500,000.00 0.20% 0.20%

APY = Annual Percentage Yield. Please call us at 908-647-4000 for current interest rates and further information about applicable fees and terms. Daily Balance is the amount of principle in the account each day. Fees may reduce earnings. You must maintain the minimum balance to receive disclosed APY. Interest compounded daily and credited monthly. All checking accounts are variable rate accounts and the interest rates and APYs are subject to change at any time.

*There is a $3.00 monthly service charge fee. $0.50 per check charge over 8 checks processed.

**Regulatory transaction limitations may apply to Personal Money Market Accounts. You must maintain the minimum tier balance in the account each day in order to obtain the disclosed APY for that particular tier. A minimum balance fee of $5.00 will be imposed once every month (per statement cycle) if the balance in the account falls below $1,000.00 on any day of the month of the cycle.

***You must maintain the minimum tier balance in the account each day in order to obtain the disclosed APY for that particular tier. A minimum balance fee of $5.00 will be imposed once every month (per statement cycle) if the balance in the account falls below $100.00 on any day of the month of the cycle. No charge for senior citizens (62 years or older).

Mortgage Rates

Type Interest Rate APR Monthly Payment Per $1000
10 Year Fixed 3.375% 3.438% $9.83
15 Year Fixed 3.500% 3.544% $7.15
20 Year Fixed 4.250% 4.285% $6.19
25 Year Fixed 4.375% 4.404% $5.49
30 Year Fixed 4.500% 4.526% $5.07
MY Mortgage


You choose a fixed term between 3 and 30 years. Contact Loan Department Contact Loan Department
5/1/30 ARM 3.250%  3.274%   
7/1/30 ARM 3.750% 3.774%    
10/1/30 ARM 4.000%  4.025%   

APR = Annual Percentage Rate. APR based on loan amount of $100,000, and $300.00 origination fee due at closing. Rates quoted are for owner occupied, 1-4 family properties located in New Jersey. Available for purchases and refinances only. There is 20% down payment requirement on purchases. Rate increased by 0.25% for loan amounts at or above $750,000. Principal and interest payments do not include taxes and insurance; Actual payment obligation may be greater. Borrower pays all origination (or commitment) fees and thirds party costs. Loan is subject to credit approval and program guidelines: a debt to income ratio up to 43.00% (DTI), a loan to value ratio (LTV) up to 80.00% for loans up to $1,000,000. Loans between $1,000,001 and $1,500,000 require 75% LTV; 70% LTV is required for loans between $1,500,001 and $2,000,000; 65% LTV for loans over $2,000,000. Interest rates and program terms are subject to change without notice.

For Commercial Real Estate Loans and Commercial Lines of Credit call for rates at 908-458-4016.

Home Equity Loan Rates

Type Interest Rate APR Monthly Payment
Per $1000
5 Year Fixed Rate Home Equity* 5.250% 5.312% $18.99
10 Year Fixed Rate Home Equity * 5.500% 5.533% $10.85
15 Year Fixed Rate Home Equity * 5.750% 5.773% $8.30
20 Year Fixed Rate Home Equity * 6.000% 6.019% $7.16
30 Year Fixed Rate Home Equity * 6.250% 6.264% $6.16
Home Equity Line of Credit


(variable rate)** Prime Prime

APR = Annual Percentage Rate
Prime = Wall Street Journal Prime Rate
For Owner-Occupied Properties Only 

Principal and interest payments do not include taxes and insurance; Actual payment obligation may be greater. Adequate property insurance is required. Fixed Rate Home Equities cannot be used for purchases. Interest rates and program terms are subject to change without notice. APR based on loan amount of $100,000, and $150.00 origination fee due at closing

*Save .25% on Fixed Rate Home Equity Loans only when you automatically deduct your payment from a new or existing Millington Bank deposit account.

**Rate is variable and subject to change based on the highest Prime Rate as published in the Wall Street Journal on the last day of the previous month and will not exceed 18.00%.

Construction Loan Rates

Please contact the Loan Department at 908-458-4016 for details about rates and terms on construction loans.

Millington Bank also offers Land Loans. Please contact the Loan Department at 908-458-4016 for details about rates and terms.

Consumer (Personal) Loan Rates

Type Interest Rate APR
Secured Loan* 13.000% 13.000%
Unsecured Loan* 14.000% 14.000%

APR = Annual Percentage Rate
Prime = Wall Street Journal Prime Rate
Rate is variable and subject to change based on the highest Prime Rate as published in the Wall Street Journal on the last day of the previous month. Interest rates and program terms are subject to change without notice

*Save .25% when you automatically deduct your payment from a new or existing Millington Bank deposit account.

Auto Loan Rates

Type Interest Rate APR Monthly Payment Per $1000
1-3 Year Fixed (New Car) * 6.500% 6.500% $86.30 to $30.65
4 Year Fixed (New Car) * 6.750% 6.750% $23.83
5 Year Fixed (New Car) * 7.000% 7.000% $19.80
6 Year Fixed (New Car) * 7.750% 7.750% $17.41
1-3 Year Fixed (Used Car) * 7.250% 7.250% $86.64 to $30.99
4 Year Fixed (Used Car) * 7.625% 7.625% $24.24

APR = Annual Percentage Rate.
Loans require an 80% Loan-to-Value. Interest rates and program terms are subject to change without notice.
*Save .25% when you automatically deduct your payment from a new or existing Millington Bank deposit account.

You are leaving Millington Bank Website

The website you have selected is an external one located on another server. Millington Bank has no responsibility for any external website. We neither endorse the information, content, presentation, or accuracy nor make any warranty, express or implied, regarding any external site.

Proceed Cancel
×

Unsecure Email Disclosure

Your privacy is very important to us. We would like to advise you that Internet email is not secure. Please do not submit any information that you consider confidential. We recommend you do not include your social security or account number or other specific identifying information.

Continue Cancel
×