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Urban Partnership Bank has a savings rate of 1.05 percent annual percentage yield (APY) for balances of $100,000 and up. Balances below $100,000 earn a savings rate of 1 percent APY for the online savings account. Details of the bank deal include:

  • $1 minimum monthly deposit
  • No monthly fees
  • No fees for transfers to and from other banks
  • 24-hour online banking
  • Limit of six bank-to-bank funds transfers each month
  • Direct deposit is available
  • Electronic statements
  • Insured by the Federal Deposit Insurance Corp. (FDIC)

The bank also has competitive CD rates for various terms. Currently, the bank has CD rates for deposits under $100,000 of 1.16 percent APY for 18 months, 1.46 percent APY for 30 months and 2.42 percent APY for 60 months. Deposits over $100,000 can earn CD rates of 1.31 percent APY for 2 years, 1.71 percent APY for 3 years and 2.52 percent APY for 5 years. Other rates and terms are available, including jumbo CD rates. To open a certificate of deposit you need a minimum of $1,000.

Urban Partnership Bank is a full-service, certified community development financial institution that was established in August 2010. It serves individuals and organizations in distressed communities in Chicago, Cleveland and Detroit.

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