Rates

Rates Accurate as of June 3, 2014
Rates are subject to change without notice. Please contact us for actual current rates.

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Deposit Rates

SAVINGS ACCOUNTS

Account Type Annual Percentage Yield Interest Rate Minimum Balance
to Open
Passbook 0.10% 0.10% $50
Investment 0.10% 0.10% $2,000
Statement Savings 0.10% 0.10% $50
Youth Savings 0.10% 0.10% $1
Christmas Club 0.25% 0.25% $10

CHECKING AND MONEY MARKET ACCOUNTS

Account Type Annual Percentage Yield Interest Rate Minimum Balance
to Open
NOW Checking 0.05% 0.05% $200
Passport Checking/Free Checking NA NA $25
Business Manager Checking NA NA $100
Money Market
    Tier I 0.15% 0.15% $2,500
    Tier II 0.15% 0.15% $20,000
    Tier III 0.20% 0.20% $50,000
    Tier IV 0.25% 0.25% $100,000
    Tier V 0.30% 0.30% $250,000
    Tier VI 0.30% 0.30% $500,000

CERTIFICATES OF DEPOSIT

Term Annual Percentage Yield Interest Rate Minimum Balance
to Open
91 DAYS 0.10% 0.10% $500
182 DAYS 0.15% 0.15% $500
6 MONTH 0.15% 0.15%  $500 
8 MONTH 0.15% 0.15%  $500 
10 MONTH 0.15% 0.15% $500
12 MONTH 0.30% 0.30% $500
12 MONTH (NO PENALTY) 0.20% 0.20% $1000
18 MONTH 0.35% 0.35% $500
21 MONTH 0.40% 0.40% $500
24 MONTH 0.50% 0.50% $500
36 MONTH 1.00% 1.00% $500
48 MONTH 0.75% 0.75% $500
60 MONTH 1.75% 1.74% $500

BUMP RATE CERTIFICATES OF DEPOSIT

These rates may change once during term (at your option) after the account is opened.

Term Annual Percentage Yield Interest Rate Minimum Balance
to Open
7 MONTH 0.15% 0.15% $500
9 MONTH 0.25% 0.25% $500
11 MONTH 0.30% 0.30% $500
13 MONTH 0.55% 0.55% $500
15 MONTH 0.50% 0.50% $500
27 MONTH 0.60% 0.60% $500
30 MONTH 0.75% 0.75% $1000

INDIVIDUAL RETIREMENT ACCOUNTS
Certificates of Deposit

Term Annual Percentage Yield Interest Rate Minimum Balance
to Open
182 DAYS 0.15% 0.15% $100
6 MONTH 0.15% 0.15%  $100
8 MONTH 0.15% 0.15%  $100
10 MONTH 0.15% 0.15%  $100
12 MONTH 0.30% 0.30% $100
18 MONTH (FIXED) 0.35% 0.35% $100
18 MONTH (VARIABLE)
(NOTE: the rate may change after the account is opened)
0.52% 0.52% $100
24 MONTH 0.50% 0.50% $100
36 MONTH 1.00% 1.00% $100
48 MONTH 0.75% 0.75% $100
60 MONTH 1.75% 1.74% $100

Important Information About Deposit Products

  • Madison Square FSB reserves the right to refuse any deposit or request for a savings account.
  • Accounts available for Maryland, Delaware and Pennsylvania residents only; all others are "case by case basis". All applicants must physically come into one of our branch locations to open any account.
  • In accordance with the USA Patriot Act, Madison Square F.S.B. is required to obtain, verify, and record information that identifies each person who opens an account.
  • Fees and charges may reduce the earnings on these accounts.
  • Interest is computed from day of deposit to day of withdrawal.
  • No monthly service fee if you maintain the stated minimum balance for each Account Type.
  • The Annual Percentage Yield (APY) and Interest Rate for Savings, Checking, and Money Market Accounts may change after account opening.
  • You must maintain the minimum balance required to obtain the Annual Percentage Yield (APY).
  • FDIC insured up to $250,000 per depositor. The $250,000 amount applies to all depositors of Madison except for owners of “self-directed” retirement accounts, which are insured up to $250,000 per owner.
  • NOW checking accounts are available for consumers and non-profit corporations.
  • The Visa Check/Debit Card is available to Madison Square NOW Checking, Passport Checking and Money Market account customers. Make surcharge-free cash withdrawals from the ATMs at all five of our locations. In addition, Madison Square is a member of Allpoint, a national network of over 50,000 surcharge-free ATMs.
  • Money Market Account is limited, by Federal Regulation, to no more than six preauthorized transactions per month.  These transfers or withdrawals may be in any combination of preauthorized, automatic, or telephone transfers, ACH transactions, POS debit transactions or checks written against the account.  Excess transactions are subject to fees/charges.
  • Certificates of Deposit (CD) – CDs are issued in the form of either a book or a printed certificate with quarterly statements, depending on product. Early withdrawals from CDs will result in substantial penalties.
  • Bump Rate CDs permit one rate adjustment per term. The 30 Month Bump Rate CD also permits additions and withdrawals with certain limitations.
  • Individual Retirement Account (IRA) – All IRAs receive a semi-annual statement.
  • The 18-month Variable Rate IRA is subject to change quarterly.
  • For more information, call 410-529-7400.

Mortgage Rates

Rates and terms are subject to change without notice.
APR = Annual Percentage Rate

MADISON SQUARE FSB
IS A PORTFOLIO LENDER – WE DO NOT INTEND TO SELL YOUR LOAN

FIXED RATE
(Purchase/Refinance - Conforming mortgages up to $417,000)

Term Interest Rates Points APR Monthly Payments per $1,000 Borrowed
5 YEARS 3.000% 0 3.106% 60 of $17.97
7 YEARS 3.000% 0 3.077% 84 of $13.21
10 YEARS 3.125% 0 3.181% 120 of $9.71
15 YEARS 3.250% 0 3.289% 180 of $7.03
20 YEARS 4.000% 0 4.031% 240 of $6.06
25 YEARS 4.375% 0 4.401% 300 of $5.49
30 YEARS 4.500% 0 4.523% 360 of $5.07

 

JUMBO LOANS
(Purchase/Refinance - $417,001 to $750,000 Maximum considered case by case basis)


Term Interest Rates Points APR Monthly Payments per $1,000 Borrowed
15 YEARS 4.250% 0 4.260% 180 of $7.52
20 YEARS 4.500% 0 4.508% 240 of $6.33
30 YEARS 4.750% 0 4.756% 360 of $5.22
  • Maximum Loan-to-Value "LTV" is 70%. 

  • New purchase money or rate-term refinance ONLY.

  • Annual Percentage Rate (APR) is calculated with loan balance assumption of $420,000 for Jumbo Loans

INDIVIDUAL LOT LOANS

Term Interest Rates Points APR Monthly Payments per $1,000 Borrowed
15 YEARS 6.500% .500 6.622% 180 of $8.71

CONSTRUCTION ONLY/CONSTRUCTION PERMANENT

  • CALL OUR LOAN DEPARTMENT FOR INFORMATION: 410-529-7400

COMMERCIAL REAL ESTATE & INVESTOR PROPERTY LOANS

  • CALL OUR LOAN DEPARTMENT FOR INFORMATION:  410-529-7400

Home Equity Rates

HOME EQUITY LOANS – Fixed Rate

Term Interest Rates Points APR Monthly Payments per $1,000 Borrowed
5 YEARS 4.500% 0 4.558% 60 of $18.64
7 YEARS 4.875% 0 4.918% 84 of $14.08
10 YEARS 5.000% 0 5.031% 120 of $10.61 
15 YEARS 5.250% 0 5.272% 180 of $8.04
20 YEARS 5.500% 0  5.518% 240 of $6.88
CLOSING COST REBATE PROGRAM:  CLOSING COSTS PAID BY MADISON MUST BE REIMBURSED TO MADISON IF THE ACCOUNT IS CLOSED WITHIN THE FIRST 3 YEARS.

Important Information About Our Residential Mortgage Plans

  • In accordance with the USA Patriot Act, Madison Square FSB is required to obtain, verify, and record information that identifies each person who opens an account.
  • For primary single-family residences located in our home and extended market area (Baltimore MSA).
  • Conforming and non-conforming primary single-family mortgages over $417,000 - call for information.
  • Except for Home Equity lines, the APR disclosed above is based on a loan amount of $200,000 with a 20% down payment; your APR will vary based on your final loan amount and finance charges.
  • One point equals 1% of the amount borrowed.
  • The fee for the credit report may be required at time of application.  This fee may vary.
  • All purchase money mortgages require at least 3% or more down payment.
  • Payments do not include amounts for taxes and insurance premiums, if applicable, the actual payment obligation will be greater.
  • 95% LTV maximum for refinances.
  • LTVs in excess of 80% require Private Mortgage Insurance (PMI).
  • Subject to credit approval. Other rates and terms available.
  • Adequate property insurance required.
  • Flood Insurance may be required.
  • Prequalifications available.
  • First-Time Homebuyer Programs – call for information.
  • Lot loans require a perk test and potability test prior to settlement if the site will be serviced by a septic system or well.  The maximum LTV and loan amount for a lot loan is 75% and $200,000, respectively.
  • Maximum home equity loan is 80% of home’s value minus any existing mortgage balance or $100,000, whichever is less.
  • Maximum home equity line is 80% of home’s value minus any existing mortgage balance or $50,000, whichever is less.
  • Consult your tax advisor regarding the deductibility of interest and charges.

HOME EQUITY LOANS- Lines of Credit

Prime Rate
3.25% Current Annual Percentage Rate

(Available for Maryland Owner Occupied Primary Residence only)

Credit Line: $10,000.00 to $250,000.00
Rate: Rates are variable and are based on the Prime Rate published in the Wall Street Journal and are adjusted monthly on the final day of the billing cycle.
Rate Ceiling: Lifetime cap will be 18%
Rate Floor: 3.00%
Payments: The amount of accrued finance charges on the last day of the billing cycle; or
1.6% of the loan account balance on the last day of the billing cycle.
Terms: Draw period of ten years with a repayment period of ten years.
Closing Cost: Waived if the account remains open for three years from the date of settlement.
Estimated range from $435.00 to $2,835.00 (on loans up to $100,000). If the
account is closed during the first three years, the waiver will be rescinded and
the closing costs will be added to the balance of the account and will be due and
payable immediately, without notice or demand, to Madison Square Federal
Savings Bank.
LTV: Maximum Loan to Value may not exceed 80%
Note: Consult Tax Advisor about tax deductibility.
Adequate property insurance is required.

Consumer Loan Rates

Rates and terms are subject to change without notice.

Automobile · SUV · Light Truck (Purchase/Refinance)

Model Year(s) Maximum Term In Months Required Down Payment Interest Rate/APR Monthly Payment Per $1,000  Borrowed
2014-2015
72
10%
4.990%
$16.10
2014-2015
60
0%
3.290%
$18.10
2013-2011
60
0%
3.290%
$18.10
2010-2003
48
0%
5.990%
$23.48

Important Information Regarding Our Automobile, SUV and Light Truck Loans

  • In accordance with the USA Patriot Act, Madison Square FSB is required to obtain, verify, and record information that identifies each person who opens an account.
  • These loans are for State of Maryland residents in our home and extended market area (Baltimore MSA) possessing a valid Maryland Driver’s License.
  • Vehicle must be titled in the State of Maryland.
  • Subject to approved credit and collateral offered as security. Other rates and terms available.
  • Receive a .25% discount on loan rate if the monthly payments are automatically deducted from a qualified Madison Square FSB Statement Savings, Checking or NOW account.
  • Adequate comprehensive insurance coverage required.  The maximum deductible is $500.
  • Maximum amount financed on new vehicles (never titled) is $60,000 or MSRP, whichever is less.
  • Maximum amount financed on used vehicles (previously titled), is $60,000 or the NADA Used Car Guide “retail value,” whichever is less.
  • Extended terms considered on a case-by-case basis with interest rate and/or down payment adjustment.
  • Commercial vehicle and motorcycle loans available. Please call for information.