Burke & Herbert Bank offers a variety of deposit accounts to meet the needs of individuals and businesses – from checking and savings accounts to money market accounts and certificates of deposit (CDs). Many accounts earn interest to help you meet your savings and investment goals. To find a rate for the account type in which you’re interested, simply click on the corresponding section below.
Interest Rates and Annual Percentage Yields are effective as of 12/04/2023
Personal Checking Accounts
| Personal Checking Accounts* | |||||
|---|---|---|---|---|---|
| Account Type | Minimum Opening Deposit |
Minimum Balance To Obtain Annual Percentage Yield |
Interest Rate |
Annual Percentage Yield |
|
| Convenient Checking with Interest Balances to $1,499.99 Balances $1,500.00 and over |
$100 $100 |
$0.01 $1,500 |
0.01% 0.03% |
0.01% 0.03% |
|
| Private Banking Interest Checking** | $100 | $0.01 | 0.10% | 0.10% | |
| * The interest rate and annual percentage yield may change after account opening. Fees may reduce earnings on the account. ** Please see the opens in a new windowBurke & Herbert Bank Private Banking Client Agreementopens PDF file for more information about Private Banking eligibility requirements and benefits. |
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Personal Savings and Money Market Accounts
| Personal Savings and Money Market Accounts* | |||||
|---|---|---|---|---|---|
| Account Type | Minimum Opening Deposit |
Minimum Balance To Obtain Annual Percentage Yield |
Interest Rate |
Annual Percentage Yield |
|
| Statement Savings | $50 | $0.01 | 0.05% | 0.05% | |
| Kids’ Savings | $10 | $0.01 | 0.05% | 0.05% | |
| Regular Money Market Balances to $2,499.99 $2,500 to $24,999.99 $25,000 to $99,999.99 Balances $100,000 and over |
$100 $100 $100 $100 |
$0.01 $2,500 $25,000 $100,000 |
0.01% 0.01% 0.03% 0.05% |
0.01% 0.01% 0.03% 0.05% |
|
| Super Money Market Balances to $24,999.99 $25,000 to $99,999.99 $100,000 to $249,999.99 $250,000 to $499,999.99 $500,000 to $999,999.99 $1,000,000 and over |
$100 $100 $100 $100 $100 $100 |
$0.01 $25,000 $100,000 $250,000 $500,000 $1,000,000 |
0.01% 0.10% 1.98% 2.23% 2.47% 2.96% |
0.01% 0.10% 2.00% 2.25% 2.50% 3.00% |
|
| Private Banking Super Money Market** | $1,000 | $0.01 | 4.41% | 4.50% | |
| * The interest rate and annual percentage yield may change after account opening. Fees may reduce earnings on the account. ** Please see the opens in a new windowBurke & Herbert Bank Private Banking Client Agreementopens PDF file for more information about Private Banking eligibility requirements and benefits. |
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Business Checking Accounts
| Business Checking Accounts* | |||||
|---|---|---|---|---|---|
| Account Type | Minimum Opening Deposit |
Minimum Balance To Obtain Annual Percentage Yield |
Interest Rate |
Annual Percentage Yield |
|
| Non-Profit Interest Checking | $100 | $25,000 | 0.05% | 0.05% | |
| Interest on Lawyer Trust Acct (IOLTA) Balances to $1,499.99 Balances $1,500.00 and over |
$100 $100 |
$0.01 $1,500 |
0.30% 0.30% |
0.30% 0.30% |
|
| * The interest rate and annual percentage yield may change after account opening. Fees may reduce earnings on the account. | |||||
Business Savings and Money Market Accounts
| Business Savings and Money Market Accounts* | |||||
|---|---|---|---|---|---|
| Account Type | Minimum Opening Deposit |
Minimum Balance To Obtain Annual Percentage Yield |
Interest Rate |
Annual Percentage Yield |
|
| Business Savings | $50 | $0.01 | 0.05% | 0.05% | |
| Business Money Market Balances to $2,499.99 $2,500 to $24,999.99 $25,000 to $99,999.99 Balances $100,000 and over |
$100 $100 $100 $100 |
$0.01 $2,500 $25,000 $100,000 |
0.01% 0.01% 0.03% 0.05% |
0.01% 0.01% 0.03% 0.05% |
|
| Business Super Money Market Balances $24,999.99 $25,000 to $99,999.99 $100,000 to $249,999.99 $250,000 to $499,999.99 $500,000 to $999,999.99 $1,000,000 and over |
$100 $100 $100 $100 $100 $100 |
$0.01 $25,000 $100,000 $250,000 $500,000 $1,000,000 |
0.01% 0.10% 1.98% 2.23% 2.47% 2.96% |
0.01% 0.10% 2.00% 2.25% 2.50% 3.00% |
|
| * The interest rate and annual percentage yield may change after account opening. Fees may reduce earnings on the account. | |||||
Certificate of Deposit Accounts
| Featured Certificates of Deposita | |||||
|---|---|---|---|---|---|
| Term | Interest Compounds |
Minimum Opening Deposit |
Minimum Balance To Obtain Annual Percentage Yield |
Interest Rate |
Annual Percentage Yield |
| 10-Month CD | Monthly | $25,000 | N/A | 4.89% | 5.00% |
| a) Substantial penalty for early withdrawal outside of grace period. | |||||
| Regular Certificates of Deposita | |||||
|---|---|---|---|---|---|
| Term | Interest Compounds |
Minimum Opening Deposit |
Minimum Balance To Obtain Annual Percentage Yield |
Interest Rate |
Annual Percentage Yield |
| 30 Days | At Maturity | $500 | N/A | 0.03% | 0.03% |
| 60 Days | At Maturity | $500 | N/A | 0.03% | 0.03% |
| 90 Days | At Maturity | $500 | N/A | 0.03% | 0.03% |
| 6-Months | Monthly | $500 | N/A | 0.05% | 0.05% |
| 12-Months | Monthly | $500 | N/A | 0.10% | 0.10% |
| 18-Months | Monthly | $500 | N/A | 0.10% | 0.10% |
| 24-Months | Monthly | $500 | N/A | 0.15% | 0.15% |
| 30-Months | Monthly | $500 | N/A | 0.15% | 0.15% |
| 36-Months | Monthly | $500 | N/A | 0.20% | 0.20% |
| 48-Months | Monthly | $500 | N/A | 0.20% | 0.20% |
| 60-Months | Monthly | $500 | N/A | 0.20% | 0.20% |
| a) Substantial penalty for early withdrawal outside of grace period | |||||
Individual Retirement Accounts (IRAs)
| Individual Retirement Accounts (IRAs)a | |||||
|---|---|---|---|---|---|
| Term | Interest Compounds |
Minimum Opening Deposit |
Minimum Balance To Obtain Annual Percentage Yield |
Interest Rate |
Annual Percentage Yield |
| 18-Monthsb – Variable | Quarterly | $100 | N/A | 1.00% | 1.00% |
| 25-Monthsc – Fixed | Monthly | $100 | N/A | 1.00% | 1.00% |
| 36-Months – Fixed | Quarterly | $100 | N/A | 1.00% | 1.00% |
| 60-Months – Fixed | Quarterly | $100 | N/A | 1.00% | 1.00% |
| a) Substantial penalty for early withdrawal outside of grace period b) The interest rate and annual percentage yield may change after account opening c) This CD comes with a “Bump Up” feature that allows you to request a one-time rate adjustment after the account has been opened for at least six months. The rate will be adjusted to the then-current rate for this CD product and the new rate will apply for the remainder of the term. |
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