Passbook Savings

  • Variable interest rate
  • $1 service charge on balances under $10
  • Limited withdrawals up to six per month
  • $1 fee in excess of nine withdrawals per quarter
  • Interest is compounded and paid quarterly
  • No interest paid on accounts with balances less than $25
  • Minimum to open is $25

 

 

Transactions: Transfers from a Passbook Savings Account are permittes or authorized to make no more than six transfersor withdrawals, or a combination of such transfers and withdrawals, per calendar month or statement cycle. 

Minimum balance to obtain the annual percentage yield disclosed: You must maintain a minimum average daily balance of $25.00 to obtain the disclosed annual percentage yield.The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. The period we use is the monthly statement cycle. Fees: A daily service charge of $1.00 will be charged for each debit transaction in excess of nine per quarter. This will be charged quarterly. A maintenance fee of$1.00 will be imposed if the average daily balance for the quarter is $10.00 or less. This will be charged quarterly.