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Savings Account Grid

 Savings AccountStudent SavingsChoice Money MarketChristmas ClubHealth Savings Account

Description

Economical, easy to get started, and adaptable to a wide range of goals!A great way for our younger clients to save and learn about handling moneyA great choice for larger balances with the advantages of limited check writing ability and debit card accessEnables you to set aside money systematically all year long, then get a nice lump-sum payment for Christmas expensesTax free, personal investment account used for qualified medical expenses; contact a tax advisor for eligibility requirements
Minimum to Open$25$0$25$0$0
Minimum Balance:$100None until age 19$2,500$0$0
Monthly Service Charge:None if $100 minimum daily balance is maintained; $6 per month if balance falls below $100None until age 19None if $2,500 minimum daily balance is maintained; $10 per month if balance falls below $2,500NoneNone
Interest Rate & Annual Percentage Yield (APY):VariableVariableVariableVariableVariable
Compounding:QuarterlyQuarterlyQuarterlyMonthlyAnnually
Interest Payment Tiers: NoNoYes; higher balances earn higher ratesNoNo
Deposits:No limitsNo limitsNo limitsNo limits. Automatic deposits are usually set up for the same amount and same period (weekly, monthly, or every payday)Annual contribution limits apply pursuant to IRS regulations

Withdrawals:*

6 free per month, then $3 per excess withdrawal*6 free per month, then $3 per excess withdrawal*6 free per monthly statement cycle, then $3 each for any additional withdrawals*Withdrawals not permitted except for annual pre-holiday disbursementWithdrawals permitted for qualifying medical expenses
Statements:**QuarterlyQuarterlyMonthlyAnnuallyMonthly

Additional Benefits:

Can be used for overdraft protection for a checking accountCan be used for overdraft protection for a checking accountCan be used for overdraft protection.  Access by debit card and by check are available; limits applyAn easy, automatic, systematic way to save for the holidaysPotential tax savings; see your tax advisor for details

*Transaction limitations may apply  **Free eStatements available.  Combined statement option (multiple accounts included on a single statement) available.