Gateway Deposit Interest Rates


Effective Date: 04/17/2024

Certificates of Deposit / IRA CDs

CD products are listed by term length and indicate minimum opening deposit amount, interest rate, and annual percent yield.
PRODUCT MINIMUM OPENING DEPOSIT INTEREST RATE APY
Portfolio CD Package - 1 year* $2,500.00 0.05% 0.05%
Portfolio CD Package - 2 year* $2,500.00 0.05% 0.05%
Portfolio CD Package - 3 year* $2,500.00 0.05% 0.05%
60 Month CD $1,000.00 0.05% 0.05%
48 Month CD $1,000.00
0.05% 0.05%
36 Month CD $1,000.00
0.05% 0.05%
24 Month CD $1,000.00
0.05% 0.05%
18 Month CD $1,000.00
0.05% 0.05%
12 Month CD $1,000.00
0.05%  0.05%
6 Month CD $1,000.00
0.05% 0.05%
All rates and Annual Percentage Yields (APYs) are accurate as of the effective date and are subject to change without notice. A penalty will be imposed for early withdrawal and may reduce earnings. CD accounts will automatically renew at maturity for the same term. You will have 10 calendar days after the maturity date to withdraw funds without penalty. Fees may reduce earnings.

$1,000 minimum balance to open and earn APY on 6-month, 12-month, 18-month, 24-month, 36-month, 48-month, and 60-month CD.

* The Portfolio CD Package is available only to Pillar Banking account holders and requires a minimum deposit of $7,500 to be divided equally among the three termed certificates. 1↩ 2↩ 3↩

Certificates of Deposit Rate Specials

CD products are listed by product, interest rate, and annual percent yield.
PRODUCT INTEREST RATE APY
7 Month CD 4.26% 4.30%
11 Month CD 3.49% 3.50%
Minimum CD opening deposit and balance to obtain the annual percentage yield (APY) is $1,000. Fees may reduce earnings on the account. A penalty will be imposed for early withdrawal. CDs will automatically renew for the same term unless otherwise noted. There is a ten-calendar day grace period after maturity to withdraw funds without penalty. Rates are subject to change without notice.

Interest is paid at maturity for CDs with a term less than 12 months. Terms equal to 12 months or greater, interest is compounded quarterly. Credited interest may be withdrawn at any time without penalty and transferred to a Busey checking or savings account quarterly, semi-annually, or annually.
 
Early Withdrawal Penalty:
 
  • 3% of principal withdrawn for terms of 36 months or greater.
  • 2% of principal withdrawn for terms between 12 months and 35 months.
  • 1% of principal withdrawn for terms under 12 months.

You have 15 calendar days to deposit funds into the certificate. If the funds are not received by the 15th calendar day, the certificate will be closed.

If you fund your account with an electronic transfer from another financial institution, your funds will be unavailable for early withdrawal or redemption for 60 days. Standard penalties and fees apply.

Please Note:

As of May 1, 2024, we will no longer be charging an early withdrawal penalty based on the CD principal amount. Moving forward the early withdrawal penalty will be as follows.

If the term of the CD is 12 months or less, the early withdrawal penalty is 6 months of interest, but not more than the total amount of interest earned during the current term of the CD

If the term of the CD is greater than 12 months, the early withdrawal penalty is 12 months of interest, but not more than the total amount of interest earned during the current term of the CD

Transferring of interest and partial withdrawals requested outside of the grace period may not be allowed.
 

Individual Retirement Accounts

IRA products are listed by term length and indicate minimum opening deposit amount, interest rate, and annual percent yield.
PRODUCT MINIMUM OPENING DEPOSIT INTEREST RATE APY
Traditional 18 Month Variable
$50.00
0.05% 0.05%
Roth Savings / CESA Savings $50.00
0.05% 0.05%
All rates and Annual Percentage Yields (APYs) are accurate as of the effective date and are subject to change without notice. Fees may reduce earnings. The rate on variable accounts may change after the account is opened.

Traditional 18 Month Variable- A penalty will be imposed for early withdrawal and may reduce earnings. CD accounts will automatically renew at maturity for the same term. You will have 10 calendar days after the maturity date to withdraw funds without penalty. Fees may reduce earnings.
 

Savings Accounts

Savings products are listed by term length and indicate minimum opening deposit amount, interest rate, and annual percent yield.
PRODUCT MINIMUM OPENING DEPOSIT INTEREST RATE APY
Everyday Savings $100.00 0.01% 0.01%
Minor Savings $25.00 0.01% 0.01%
Bridge Savings $25.00 0.01% 0.01%
All rates and Annual Percentage Yields (APYs) are accurate as of the effective date and are subject to change without notice. Fees may reduce earnings. The rate may change after the account is opened.

Cornerstone Savings Account

(Active Pillar Checking required)

Cornerstone Savings products are listed by term length and indicate minimum opening deposit amount, interest rate, and annual percent yield.
PRODUCT MINIMUM OPENING DEPOSIT INTEREST RATE APY
$5MM and over $100 0.10% 0.10%
$1MM - $4,999,999.99 $100 0.10% 0.10%
$500,000 - $999,999.99 $100 0.10% 0.10%
$250,000 - $499,999.99 $100 0.10% 0.10%
$100,000 - $249,999.99 $100 0.05% 0.05%
$50,000 - $99,999.99 $100 0.02% 0.02%
$15,000 - $49,999.00 $100 0.01% 0.01%
$0 - $14,999.99 $100 0.01% 0.01%
All rates and Annual Percentage Yields (APYs) are accurate as of the effective date and are subject to change without notice. Fees may reduce earnings. The rate may change after the account is opened.

Premium Savings Account

Premium Savings products are listed by term length and indicate minimum opening deposit amount, interest rate, and annual percent yield.
PRODUCT INTEREST RATE APY
$5MM and over 4.72% 4.80%
$1MM - $4,999,999.99 4.72% 4.80%
$500,000 - $999,999.99 4.72% 4.80%
$250,000 - $499,999.99 4.72% 4.80%
$100,000 - $249,999.99 4.72% 4.80%
$25,000 - $99,999.99 3.93% 4.00%
$0 - $24,999.99 0.05% 0.05%
All rates and Annual Percentage Yields (APYs) are accurate as of the effective date and are subject to change without notice. Rates may change after the account is opened. Minimum deposit to open the account is $25,000 in new funds or from a Busey Bank matured CD. New funds must originate from a financial institution other than Busey Bank. This is a tiered rate account, minimum balance of $25,000 is required to obtain the premium APY offered. Offer applies to personal accounts only and to those who reside in Illinois, Missouri, Florida or Indiana. Fees may reduce earnings. No fee for electronic statements; or $2.00 paper statement fee is charged per statement cycle. Ask your local Busey Bank associate for details, terms and current rates.

Checking Accounts

Checking products are listed by term length and indicate minimum opening deposit amount, interest rate, and annual percent yield.
PRODUCT MINIMUM OPENING DEPOSIT INTEREST RATE APY
Health Savings - $25,000 and over $25.00
0.01% 0.01%
Health Savings - $10,000 - $24,999.99 $25.00
0.01% 0.01%
Health Savings - $1,500 - $9,999.99
$25.00
0.01% 0.01%
Health Savings - $1,499.99 and below
$25.00
0.01% 0.01%
Pillar Banking - $20,000+
$100.00 0.01% 0.01%
Pillar Banking - $3,000 - $19,999.99 $100.00 0.01% 0.01%
All rates and Annual Percentage Yields (APYs) are accurate as of the effective date and are subject to change without notice. Fees may reduce earnings. The rate may change after the account is opened.
 

Money Market Account

Money Market products are listed by term length and indicate minimum opening deposit amount, interest rate, and annual percent yield.
PRODUCT MINIMUM OPENING DEPOSIT INTEREST RATE APY
Money Market - $50,000 and over $100.00 0.01% 0.01%
Money Market - $15,000 to $49,999.99 $100.00 0.01% 0.01%
Money Market - $2,500 to $14,999.99 $100.00 0.01% 0.01%
Money Market - $2,499.99 and below $100.00 0.01% 0.01%
Pillar Money Market - $50,000 and over** $100.00 0.01% 0.01%
Pillar Money Market - $15,000 to $49,999.99** $100.00 0.01% 0.01%
Pillar Money Market - $2,500 to $14,999.99** $100.00 0.01% 0.01%
Pillar Money Market - $2,499.99 and below** $100.00 0.00% 0.00%
All rates and Annual Percentage Yields (APYs) are accurate as of the effective date and are subject to change without notice. Fees may reduce earnings. The rate may change after the account is opened.

** The Pillar Money Market is available only to Pillar account holders. 1↩ 2↩ 3↩ 4↩






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