Waterman Bank: Savings Accounts, CDs, Money Market & Rates

By Aviel Fahl

Updated: 8/21/2026

Mission: Banksparency aims to make Waterman Bank's deposit accounts transparent and comparable to the market.

Interest rates reported as APY

Analysis of Waterman Bank

Our verdict

Waterman Bank offers High Yield Savings, a high-yield savings account paying 3.82% APY with a $50 minimum deposit.

At 3.82% APY, Waterman Bank pays 10x the national savings average of 0.38%.

Additional Accounts

Money Market, a money market account at 3.82% APY.
Kids Savings, a youth savings account at 3.82% APY.
Business Savings, a business savings account at 3.82% APY.

Ideal User Profile

Best for: simple saving without extra requirements.

CD Analysis

Waterman Bank also offers CDs paying up to 3.82% APY on its 6 months term, across 7 term lengths.

Tracking 7 active CD products, useful for locking in today's rate before further moves at the Fed.

Best CD use: locking in 3.82% APY for a 6 months term and laddering across multiple maturities.

Important Considerations

Kids Savings is a youth savings account. Age-restricted to young account holders.

Business Savings is a business savings account. Available to business customers.

No app ratings available for this bank.

iOS app rating is not available.

Android app rating is not available.

Deposit Accounts Overview

Business Money Market

Savings

3.82% APY

Min: $2,500 Branch Access

Rank #37 of 337 tracked.

Business Savings

Savings

3.82% APY

Min: $50 Branch Access

Rank #38 of 337 tracked.

High Yield Savings

Savings

3.82% APY

Min: $50 Branch Access

Rank #39 of 337 tracked.

Kids Savings

Savings

3.82% APY

Min: $50 Branch Access

Rank #40 of 337 tracked.

Christmas Club

Savings

0.25% APY

Min: $0.01 Branch Access

Rank #216 of 337 tracked.

Money Market

3.82% APY

Min: $2,500 Branch Access

Market Reality Check

This institution offers rates below the top 10 savings and money market accounts we track. Those institutions all pay at least 4.01% APY.

See Top Rates

National Avg: 0.38% (FDIC, 8/1/2026).
Banksparency tracks live rates daily.

Bank Overview

HQ LocationWaterman, IL
Deposit InsuranceFDIC Insured(Cert: 10878)

Visit Official Website

Featured Offers

Axos ONE - High Yield Savings & Checking

Over 95,000 fee-free ATMs
Get paid up to 2 days early with Direct Deposit
One convenient app for spending & saving

FDIC Insured

Savings4.21%APY

Checking0.51%APY

Go to Axos Bank

FDIC or NCUA insured

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	0
Min. Balance in Savings Account	0
How to qualify for APY	OPTION ADirect Deposit $1,500+ AND Maintain $1,500+ avg daily checking balance. OR OPTION BDeposit $5,000+ total/mo AND Maintain $5,000+ avg daily checking balance.
Mobile Ratings	iOS:4.7 Android:4.5

The APY is available with the Axos ONE savings and checking bundle. The checking account also earns interest. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000.

EASY TRANSFERS, LOW MINIMUMS

SponsoredVerified Aug 19, 2026

FDIC Insured

Quontic High Yield Savings

Apply in 3 minutes or less
No monthly service fees
Transfer with Zelle, Apple Pay, G-Pay, and more

FDIC Insured

Savings3.20%APY

Go to Quontic Bank

FDIC or NCUA insured

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	10000
Min. Balance in Savings Account	0
Mobile Ratings	iOS:4.8 Android:4.9

Deposit Accounts: In-Depth View

Savings Accounts Offered by Waterman Bank

Feature	High Yield Savings	Business Savings	Kids Savings	Christmas Club
APY	3.82%Verified: 8/21/2026	3.82%Verified: 8/21/2026	3.82%Verified: 8/21/2026	0.25%Verified: 8/21/2026
APY Trend	N/A	N/A	N/A	N/A
Min. Deposit	$50	$50	$50	$0.01
Min. Balance	$0.01	$0.01	$0.01	$0.01
Monthly Fee	N/A	N/A	N/A	N/A
Direct Deposit	None	None	None	None
Checking Bundle	No	No	No	No
In-Branch Access	Yes	Yes	Yes	Yes
Compounding	N/A	N/A	N/A	N/A
FDIC Insured	Yes	Yes	Yes	Yes
Eligibility	United States	United States	United States	United States
Next Steps	-	-	-	-

Interactive Tool

Calculate Savings for Waterman Bank

All calculations are based on APY.

Choose savings account

Initial deposit

Recurring deposit

Frequency

Duration

Savings Breakdown

Interest Earned
+$1,803.30(10.4%)
Total Contributions
$13,000
Initial Deposit
$2,500

Projected Balance

$17,303.30

Effective APY

3.82%

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Waterman Bank Deposit Rates Over Time

Historical APY Insights

Last 6 Months

Metric	Business Money Market	Money Market: Money Market
Latest APY	3.82%	3.82%
Trend	Sideways	Rising
Slope (bps/mo)	-0.0	39.8
Rate Changes / Mo	0.00	0.16
Days Since Last Change	154	147
High (-6m)	3.82%	3.82%
Low (-6m)	3.82%	0.00%
Draw-down	0.0%	0.0%
Volatility (CV)	0.000	0.577

How to read these metrics▼

Trends & Velocity

Trend: The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
Slope (bps/mo): Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
Rate Changes / Mo: "Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.

Risk & Range

High/Low: The absolute ceiling and floor of the rate during the 188-day window.
Volatility Score: Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
Days Since Change: If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.

Compare with Waterman Bank

Feature	Current View Waterman Bank	Empty Slot
Product		-
APY	3.82%Verified: 8/21/2026	-
APY Trend	N/A	-
Min. Deposit	$50	N/A
Monthly Fee	N/A	-
Direct Deposit	No	-
Checking Bundle	No	-
In-Branch Access	Yes	-
Eligibility	United States	-
Compounding	N/A	-
FDIC or NCUA Insured	Yes	-
Next Steps	-	-

CD Overview

3.82% Highest APY

Across 7 CD products with terms: 12 months, 36 months, 30 months, 24 months, 18 months, 48 months, 6 months

CD Products Offered by Waterman Bank

Feature	6 Month 6 months	12 Month 12 months	18 Month 18 months	24 Month 24 months	30 Month 30 months	36 Month 36 months	48 Month 48 months
APY	3.82%Verified: 8/21/2026	3.25%Verified: 8/21/2026	2.25%Verified: 8/21/2026	1.25%Verified: 8/21/2026	1.11%Verified: 8/21/2026	1.01%Verified: 8/21/2026	0.95%Verified: 8/21/2026
Term	6 months	12 months	18 months	24 months	30 months	36 months	48 months
Min. Deposit	$0	$0	$0	$0	$0	$0	$0
Early Withdrawal	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FDIC Insured	Yes	Yes	Yes	Yes	Yes	Yes	Yes

Waterman Bank CD Rates Over Time

Not enough rate history to show a chart. We have CD rates for this bank from one day only. The chart shows when we collect more data.

Money Market Accounts Offered by Waterman Bank

Feature	Money Market
APY	3.82%Verified: 8/21/2026
Min. Deposit	$2,500
Min. Balance	N/A
Monthly Fee	N/A
Direct Deposit	None
In-Branch Access	Yes
Compounding	N/A
FDIC Insured	Yes
Eligibility	United States

Alternatives to Waterman Bank

Banks with Higher/Similar Savings APY

For a top list of the highest savings rates, see all HYSA top rates

Carver Bank

Youth Savings: 0.10% APY

Minimum Deposit: $10

Carver Savings: 0.10% APY

Minimum Deposit: $100

High Yield Savings: 4.00% APY

Minimum Deposit: $5,000

Online Only

Money Market: 0.50% APY

Minimum Deposit: $250

Savings Liquit IRA: 0.10% APY

Minimum Deposit: $100

Relationship Savings: 0.10% APY

Minimum Deposit: $250

First County Bank

First Business Money Market: 0.03% APY

Minimum Deposit: $50

First Tiered Money Market: 0.03% APY

Minimum Deposit: $1

First Business Savings: 0.03% APY

Minimum Deposit: $50

First Savings: 0.03% APY

Minimum Deposit: $1

FirstPrize $avings: 0.03% APY

Minimum Deposit: $1

IRA Money Market: 0.03% APY

Minimum Deposit: N/A

FirstMaturedCD Savings: 4.00% APY

Minimum Deposit: $1

EverBank

Performance Savings: 3.90% APY

Minimum Deposit: $0

Online Only

Western Alliance Bank

High-Yield Savings Premier: 3.80% APY

Minimum Deposit: $500

Online Only

Elevault

High Yield Savings Account: 4.34% APY

Minimum Deposit: $0

Online Only

First Bank

Icon High-Yield Savings: 2.75% APY

Minimum Deposit: $100

Thrive Credit Savings: 0.01% APY

Minimum Deposit: $100

Health Savings Account: 0.03% APY

Minimum Deposit: $100

Kids Cash Savings: 4.00% APY

Minimum Deposit: $5

Performance Money Market: 0.02% APY

Minimum Deposit: $100

Statement Savings: 0.01% APY

Minimum Deposit: $100

Pibank

Pibank Savings: 4.10% APY

Minimum Deposit: $0

Online Only

FVCbank

Advantage Direct Savings: 4.01% APY

Minimum Deposit: $500

Online Only

Climate First Bank

Super Savings: 3.56% APY

Minimum Deposit: $50

Youth Savings: 3.56% APY

Minimum Deposit: $25

Impact Money Market: 3.96% APY

Minimum Deposit: $50,000

Super Duper Savings Account: 4.01% APY

Minimum Deposit: $50

Business Money Market: 4.26% APY

Bundled Savings & Checking Account

Minimum Deposit: $50

BrioDirect

High-Yield Savings Account: 3.75% APY

Minimum Deposit: $5,000

Online Only

Bank Michigan

Health Savings Account (HSA): 0.10% APY

Minimum Deposit: $50

Savings Account: 0.10% APY

Minimum Deposit: $10

Money Market Investments (MMI): 1.50% APY

Minimum Deposit: $2,500

Premier Money Market Investments (MMI): 3.75% APY

Minimum Deposit: $25,000

Business Money Market Investments (MMI): 2.00% APY

Minimum Deposit: $10,000

Betterment

Cash Reserve: 4.00% APY

Minimum Deposit: $0

Online Only