Rates

All Annual Percentage Rates (APR) and Annual Percentage Yields (APY) are effective as if the date below and may change at the bank's discretion

Home Loan Rates


Skowhegan Savings offers a wide range of financing options to meet your needs including bi-weekly mortgages which can save you thousands of dollars in interest and shorten the life of your loan. Try our bi-weekly calculator to see how much you can save!

Rates below are for conforming primary residence. To see all current home loan rates and options, please visit our check rates tool or contact your local Community Banker.


Bi-Weekly Home Loan Rates

Rates below are for a bi-weekly mortgage and are subject to change at any time. Bi-weekly mortgage rates are available when automatic payments are made from a Skowhegan Savings deposit account.


Rates Effective:  August 17, 2022
Term Rate APR* Bi-Weekly Payment/$1,000 borrowed**
10 Year 4.750% 5.339% 5.243
15 Year 4.875% 5.291% 3.922
20 Year 5.250% 5.585% 3.369
30 Year 5.500% 5.756% 2.838

* The annual percentage rate (APR) disclosed above assumes $50,000.00 financed and 20% down payment. Higher loan to value financing is available with Private Mortgage Insurance. The interest rate and points are subject to change without notice. All loans are subject to credit approval by Skowhegan Savings.

** Bi-weekly payment/ $1000 borrowed does not reflect any insurances or taxes. Actual payment obligation will be greater.

Loans greater than $1,000,000 have a .25% rate add.



Monthly Home Loan Rates

Rates Effective: August 17, 2022
Term Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 4.875%
5.412% 10.546
15 Year 5.000% 5.377% 7.908
20 Year 5.375% 5.676% 6.808
30 Year
5.625%
5.851%
5.757

* The annual percentage rate (APR) disclosed above assumes $50,000.00 financed and 20% down payment. Higher loan to value financing is available with Private Mortgage Insurance. The interest rate and points are subject to change without notice. All loans are subject to credit approval by Skowhegan Savings.

** Monthly payment/ $1000 borrowed does not reflect any insurances or taxes. Actual payment obligation will be greater.

Loans greater than $1,000,000 have a .25% rate add.


Land Loan Rates


Bi-Weekly Acreage Rates

Rates below are for a bi-weekly acreage loans and are subject to change at any time. Bi-weekly acreage rates are available when automatic payments are made from a Skowhegan Savings deposit account.

Rates Effective: August 17, 2022
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 8.250% 8.496% 0.000
15 Year 8.375% 0.000% 4.530
20 Year
8.750%
0.000%
3.952

*The annual percentage rate (APR) disclosed above assumes $50,000 financed and 35% down payment. The interest rate and points are subject to change without notice.  All loans are subject to credit approval by Skowhegan Savings.

**Monthly payment/$1000 does not reflect any taxes.  Actual payment obligation will be greater.


Monthly Acreage Rates


Rates Effective: August 17, 2022
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 8.375% 8.668% 12.001
15 Year 8.500% 0.000% 8.919
20 Year
8.875%
0.000%
8.521

*The annual percentage rate (APR) disclosed above assumes $50,000 financed and 35% down payment. The interest rate and points are subject to change without notice.  All loans are subject to credit approval by Skowhegan Savings.

**Monthly payment/$1000 does not reflect any taxes.  Actual payment obligation will be greater.


Bi-Weekly Building Lot Rates

Rates below are for a bi-weekly building lot loans and are subject to change at any time. Bi-weekly building lot rates are available when automatic payments are made from a Skowhegan Savings deposit account.

Rates Effective: August 17, 2022
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 7.750% 8.348% 6.001
15 Year 7.875% 8.328% 4.742
20 Year
8.250%
8.502%
4.221

*The annual percentage rate (APR) disclosed above assumes $50,000 financed and 25% down payment. The interest rate and points are subject to change without notice.  All loans are subject to credit approval by Skowhegan Savings.

**Monthly payment/$1000 does not reflect any taxes.  Actual payment obligation will be greater.


Monthly Building Lot Rates


Rates Effective: August 17, 2022
Term
Rate APR* Monthly Payment/$1,000 borrowed**
10 Year 7.875% 8.443% 12.067
15 Year 8.000% 8.411% 9.199
20 Year
8.375%
8.715%
7.905

*The annual percentage rate (APR) disclosed above assumes $50,000 financed and 25% down payment. The interest rate and points are subject to change without notice.  All loans are subject to credit approval by Skowhegan Savings.

**Monthly payment/$1000 does not reflect any taxes.  Actual payment obligation will be greater.


Home Equity Loan Rates


Rates Effective: August 17, 2022
Term
Rate APR* Monthly Payment/$1,000 borrowed**
5 Year 5.375% 5.520% 19.047
10 Year 5.500% 5.579% 10.856
15 Year 5.625% 5.682% 8.240
20 Year
5.750%
5.796%
7.024

The annual percentage rate (APR) disclosed above assumes 11% down payment. The interest rate and points are subject to change without notice. All loans are subject to credit approval by Skowhegan Savings.

** Monthly payment/ $1000 borrowed does not reflect any insurances or taxes. Actual payment obligation will be greater.


Money Market Account Rates

All Deposit Rates Effective: August 1, 2022

Integrity Money Market


Minimum Deposit to Open
Minimum Balance
to Earn APY*
Interest Rate Annual Percentage Yield
$2,500 $0.01 - $2,499.99 0.00% 0.00%
- $2,500 - $24,999.99 0.03% 0.03%
- $25,000 - $49,999.99 0.06% 0.06%
-
$50,000 - $99,999.99
0.08%
0.08%
-
$100,000 & Above
0.20%
0.20%

* Annual Percentage Yield (APY).

The annual percentage yields assume interest remains on deposit. The rates may change after the account is open. Fees reduce earnings on the account.


Integrity Plus Money Market


Minimum Deposit to Open
Minimum Balance to
Earn APY*
Interest Rate Annual Percentage Yield
$2,500 $0.01 - $24,999.99 0.04% 0.04%
- $25,000 - $49,999.99 0.10% 0.10%
- $50,000 - $99,999.99 0.10% 0.10%
-
$100,000 - $249,999.99
0.20%
0.20%
-
$250,000 - $499,999.99
0.35%
0.35%
- $500,000 - $999,999.99 0.45% 0.45%

$1,000,000 & Above 0.55% 0.55%

* Annual Percentage Yield (APY).

The annual percentage yields assume interest remains on deposit. The rates may change after the account is open. This is a tiered split-rate account. Fees reduce earnings on the account.


 Health Savings Account Rates


Minimum Deposit to Open Minimum Balance to Earm APY* Interest Rate Annual Percentage Yield
$50 $0.01 - $499.99 0.00% 0.00%

$500.00 & Above 0.05% 0.05%


* Annual Percentage Yield (APY).

The annual percentage yields assume interest remains on deposit. The rates may change after the account is open. Fees reduce earnings on the account.



Certificate of Deposit (CD) Rates


 CD Specials


Account
Minimum Deposit to Open Minimum Balance to Earn APY* Interest Rate Annual Percentage Yield
5 Month CD $1,500 $1,500 0.25% 0.25%
18 Month CD $500 $500 1.00% 1.01%
3 Year Bump Up CD
Discontinued
$10,000
$10,000
1.739%
1.75%

*Annual Percentage Yield (APY).

Annual percentage yields assume interest remains on deposit. A penalty will be imposed for withdrawals before maturity.



Other Terms & Rates


Account Minimum Deposit to Open Minimum Balance to Earn APY* Interest Rate Annual Percentage Yield
91 Day CD $2,000 $2,000 0.10% 0.10%
6 Month CD $1,500 $1,500 0.15% 0.15%
1 Year CD $500 $500 0.20% 0.20%
2 Year CD $500 $500 0.30% 0.30%
3 Year CD $500 $500 0.35% 0.35%
5 Year CD $500 $500 0.50% 0.50%

*Annual Percentage Yield (APY).

Annual percentage yields assume interest remains on deposit. A penalty will be imposed for withdrawals before maturity.



IRA Rates


IRA Special


Account Minimum Deposit to Open Minimum Balance to Earn APY* Interest Rate Annual Percentage Yield
18 Month IRA Special $500 $500 1.00% 1.01%

* Annual Percentage Yield (APY).

Annual percentage yields assume interest remains on deposit. A penalty will be imposed for withdrawals before maturity.



Other Terms & Rates


Account Minimum Deposit to Open Minimum Balance to Earn APY* Interest Rate Annual Percentage Yield
2 Year IRA $500 $500 0.30% 0.30%
3 Year IRA $500 $500 0.35% 0.35%
5 Year IRA $500 $500 0.50% 0.50%

* Annual Percentage Yield (APY).

Annual percentage yields assume interest remains on deposit. A penalty will be imposed for withdrawals before maturity.