New Millennium Bank Small Business Administration Loan(SBA) Program

We are helping small businesses grow and succeed.

SBA programs are designed to assist small businesses in obtaining loan approvals and leverage private capital for use in startup costs, working capital, business procurement, franchise fees, equipment, inventory, or the purchase of owner‐occupied commercial real estate. The program provides a lender with the necessary security, in the form of a partial guarantee, for the lender to approve a loan or line-of-credit. Our reputation for creativity, speed, accuracy, and service is what sets us apart from other lenders.

Contact us today and get approved! (201) 585-6090

Products & Rate

Products & Rates as of September 15, 2018

Interest Bearing Accounts

   Interest Rate   APY* (Annual Percentage Yield)  
Super Savings (tiered and variable rate)
$10,000.00 Minimum to open and minimum $100 balance requirement to avoid monthly Minimum Balance Fee of $3.00
  $0.01 -$9,999.99  0.25%   0.25%  
  $10,000 and over   1.73%   1.75%  
 
New Millennium Silver Account
(Must at least 55 years old)
 0.15%   0.15%  
 
Money Market Account (Tiered Rate)
$1000.00 Minimum to open and earn APY
 $1,000 - $9,999.99  0.15%   0.15%  
 $10,000 - $49,999.99  0.25%   0.25%  
 $50,000 - $99,999.99  0.30%   0.30%  
 $100,000 - $249,999.99  0.40%   0.40%  
 $250,000 - $499,999.99  0.50%   0.50%  
 $500,000 and over  0.75%   0.75%  
 
Business Interest Checking
(For Sole Proprietorship and Not-For-Profit accounts only)
$500.00 Minimum to open and earn APY
 0.15%   0.15%  
Neighborhood Savings
$50 Minimum to open
 0.25%   0.25%  
       

Millennium Club Account (Fixed Rate)

1 year term interest rate

 APY 2 year term interest rate APY 3 year term interest rate APY
With Automatic Transfer from NMB Deposit Account     
$1,000-$50,000 2.03%  2.05%  2.37% 2.40% 2.62% 2.65%
Without Automatic Transfer from NMB Deposit Account         
$1,000-$50,000  1.78%  1.80%  2.13%  2.15%  2.37% 2.40%
 
  Interest Rate APY* (Annual Percentage Yield)
Certificates of Deposit   ($500.00 Minimum to open) (Fixed Rate)
            90 Day Certificate  0.25%   0.25%  
 6 Month Certificate  0.75%   0.75%  
 9 Month Certificate  1.14%   1.15%
 12 Month Certificate  1.78%   1.80%
15 Month Certificate 1.49% 1.50%
 18 Month Certificate  1.88%   1.90%
 2 Year Certificate  1.98%   2.00%
 3 Year Certificate  2.23%   2.25%
 4 Year Certificate  2.47%   2.50%
 5 Year Certificate  2.71%   2.75%
*There are special rates for 12 month & 18 month CD deposits of $10,000.00 or more with new money
Promotional CD
           12 Month Certificate  2.37%   2.40% 
      15 Month Certificate  2.47%   2.50% 
           18 Month Certificate  2.71%   2.75% 
Hybrid Certificated of Deposit ($30,000 Minimum to open) (Fixed and Simple Rate)
           12 Month Certificate with Checking  2.00%   2.00% 
      12 Month Certificate without Checking  1.75%   1.75% 

Interest is calculated using the daily balance method. This method applies a daily periodic rate to the principal in the amount at the end of each day. For Hybrid CD products, interest will not be compounded and accrued interest will be credited to your account per Product Disclosure. For other interest bearing deposit products, interest will be compounded and accrued interest will be credited to your account per Product Disclosure. At our discretion, we may change the interest rate and annual percentage yield (APY) for your account at any time (Excludes CD and Millennium Club Account). There is no limit to the amount of the change. Accrual of interest begins on the business day you deposit non-cash items (for example, checks). Accrued interest will not be paid if the account is closed before the interest is credited to the account. Fees may reduce the earnings on the account. The penalty may be applied for early withdrawal for the CD accounts.

Get Started Now

Grow your business with an affordable, easy business loan

If you’re planning to start a business or expand an existing business, you might need financing help. SBA participates in a number of loan programs designed for business owners who may have trouble qualifying for a traditional bank loan
Get Started Now

Our Branches

  • Fort Lee Corp
  • Fort Lee, NJ 07024
  • (201) 585-6090
Fort Lee Corp Map
  • New Brunswick
  • NJ 08901
  • (732) 729-1100
New Brunswick Branch Map
  • Fort Lee
  • NJ 07024
  • (201) 944-1110
Fort Lee Branch Map
  • Bayside
  • NY 11361
  • (347) 836-4914
Bayside Branch Map
  • Manhattan
  • NY 10001
  • (212) 239-1023
Manhattan Branch Map
  • Palisades Park
  • NJ 07650
  • (201) 944-1983
Palisades Park Branch Map

Contact Us

Our Corporate Office & Corp. Branch Open

Monday - Friday
9:00am - 5:00pm

Saturday
Closed

Sunday
Closed

Our Branch Open

Monday - Friday
8:30am - 5:00pm

Saturday
9:00am - 1:00pm

Sunday
Closed

Manhattan and Fort lee branch

Saturday
Closed

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