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 11, 2017

Interest Bearing Accounts

   Interest Rate   APY* (Annual Percentage Yield)  
Totally Free Checking
$100.00 Minimum to open and earn APY
 0.15%   0.15%  
 
Super Saving
offer thru 12/31/17 and apply to new funds only.
 1.09%   1.10%  
 
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

1.50%  1.51%  2.00% 2.02% 2.25% 2.28
Without Automatic Transfer from NMB Deposit Account         
$1,000-$50,000  1.25%  1.26%  1.75%  1.77%  2.00% 2.02
 
  Interest Rate APY* (Annual Percentage Yield)
Certificates of Deposit   ($500.00 Minimun 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
offer thru 12/31/17 and apply to new funds only.
 1.59%   1.60% with open checking account
15 Month Certificate 1.48% 1.50%
 18 Month Certificate
offer thru 12/31/17 and apply to new funds only.
 1.78%   1.80% with open checking account
 2 Year Certificate  1.19%   1.20%
 3 Year Certificate  1.29%   1.30%
 4 Year Certificate  1.44%   1.45%
 5 Year Certificate  1.74%   1.75%
 
Hybrid Certificated of Deposit ($30,000 Minimum to open) (Fixed Rate)
           12 Month Certificate with Checking  1.35%   1.35% 
      12 Month Certificate without Checking  0.95%   0.95% 

Non-Interest Bearing Accounts

Millennium Checking

  • $50 Minimum to open
  • $100 Minimum daily balance to avoid monthly service charge of $12
Neighborhood Checking
  • $10 Minimum to open
  • Monthly Fee of $3.00
New Millennium Business Checking
  • $100 Minimum to open
  • Monthly Fee of $10.00(Can be offset by earnings credit allowance)
  • Per check fee ($0.17), per deposit fee ($0.17) and per deposited item fee ($0.17) Can be offset by earnings credit allowance
Neighborhood Business Checking
  • $100 Minimum to open
  • $500 Minimum daily balance to avoid monthly service charge of $20
  • Per check fee (after first 50 per statement free) $0.17
  • Per deposit fee (after first 25 per statement free) $0.17
  • Per deposited item fee (after first 200 per statement free) $0.17

Interest is calculated using the daily balance method.
This method applies a dally periodic rate to the principal in the amount at the end of each day.
Interest will not 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

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

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

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