Virginia Commonwealth Bank
Online Login for Personal Banking

Rate Sheet

Current Interest Rates for Retail Banking
Effective - 10/27/14
Richmond and Tri-City Area Rates

Savings and Money Market Accounts

Account

Minimum Balance Requirements
To Open

Minimum
Balance Requirement To Obtain APY

Interest Rate

Annual Percentage
Yield with Compounding

Personal Savings Account

$25

$50

.10%

.10%

Commonwealth Money Market Account $1,000 $0-$999 .00% .00%
    $1,000 - $9,999 .10% .10%
    $10,000 -$24,999 .10% .10%
    $25,000 - $49,999 .15% .15%
    $50,000 or more .20% .20%

Checking and Now Accounts

Account

Minimum Balance Requirements
To Open

Minimum
Balance Requirement To Obtain APY

Interest Rate

Annual Percentage Yield with Compounding

First Free Checking

$100

$0

0.00%

0.00%

First Interest Checking

$100

$500 - $2,499

0.05%

0.05%

 

 

$2,500 or more

0.10%

0.10%

Classic 55 Checking

$50

$500 - $14,999

0.05%

0.05%

 

 

$15,000 or more

0.10%

0.10%

Prime Connection
Checking

$100

$1,500 - $9,999

0.05%

0.05%

 

 

$10,000 or more

0.10%

0.10%


Certificates of Deposit

Account

Minimum To Open and obtain APY

Interest Rate

Annual Percentage
Yield with Compounding

6 Month CD

$500

.15%

.15%

12 Month CD

$500

.30%

.30%

24 Month CD

$500

.45%

.45%

36 Month CD

$500

.60%

.60%

48 Month CD

$500

.70%

.70%

60 Month CD

$500

1.00%

1.00%


IRA's

Account

Minimum To Open and obtain APY

Interest Rate

Annual Percentage
Yield with Compounding

12 Month IRA

$100

0.30%

0.30%

36 Month IRA

$100

.60%

.60%

60 Month IRA

$100

1.00%

1.00%


For current rates, please contact your nearest branch location. For Checking and Now Accounts: We use the daily balance method to calculate interest on each interest bearing now account. This method applies a daily periodic rate to the principal in the account each day. For Savings and Certificate Accounts: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Savings, Money Markets, First Interest Checking, Classic 55 Interest Checking, and Prime Connection are variable rate accounts, and the stated APY may change after the account opening. Fees imposed on any account listed above may reduce earnings. APY listed assumes that interest remains on the account. Substantial penalty for early withdrawals may be assessed to certificates and IRA accounts. Member FDIC

Rates are subject to change without notice. Checking and Savings rates may change after the account is opened.

Useful Links
Click a link below to get more information.

Fee Schedule
Comparison Chart

Since Virginia Commonwealth is a small bank, dedicated to serving the needs of our local communities, deposit accounts and loan applications are accepted only from residents of the communities served by our branch offices and their surroundings.