Personal Savings Accounts
Traditional plans for customers who need a safe no frills way to protect their capital while earning interest. You are not required to have other accounts to earn interest.
It takes $100 to open this account.
The account includes a semi annual statement and Free Direct Deposit.
Minimum Balance to Avoid Imposition of Fees
If balance falls below $200 on any day in the statement cycle, a maintenance fee of $1 will be imposed once during the cycle.
Transfers from a Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per statement cycle with no transfers by check, draft, debit card, or similar to third parties.
An excess withdrawal charge fee of $.50 will be charged for each debit in excess of six per statement cycle.
If a customer or the bank closes an account within 180 days after opening of the account the customer will be charged a $30 closing fee.
Compounding and Crediting Frequency
Interest will be compounded every quarter. Interest will be credited to your account every quarter.
Your interest rate and annual percentage yield may change.
Frequency of Rate Changes
We may change the interest rate on your account at any time.
Effect of Closing an Account
If you close your account before interest is credited, you will not receive the accrued interest.
Daily Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of Interest on Non Cash Deposits
Interest begins to accrue no later than the business day we receive credit for the deposit of non cash items (e.g. checks)