Start Your Savings Journey
It doesn’t matter if you’re saving with a specific goal in mind or you just want to be prepared for something unexpected. Saving money is a valuable skill that serves you well throughout your life. At Savings Bank, we offer a variety of savings accounts so you can choose how you want to save your money. Contact our offices to speak with a member of our team about which savings account option is the right choice for you.
Savings Account Options
| Account Type | Key Features |
|---|---|
| Passbook Savings | $200.00 daily balance requirement to avoid $2.00 monthly service charge Variable interest account Interest paid quarterly Receive quarterly statements Free online banking and direct deposit |
| Christmas Club Savings | Save throughout the year for holiday purchases Maximum balance of $2,500.00 No account service charge Receive annual statements Account balance checks are mailed out by December 1st each year Variable interest account Interest paid quarterly |
| Health Savings Account | Save to pay for qualified medical expenses No minimum balance requirement No account service charge Must be enrolled in high-deductible healthcare plan Variable interest account |
Money Market Accounts
Money market accounts give you the ability to take advantage of tiered interest rates. The higher your balance, the better your rate. Each of our accounts include:
- Quarterly statements
- Free online banking and direct deposit
- No service charges
- Up to 6 preauthorized transfers, 3 of which can be made by check
Check out our money market account options below.
| Account Type | Account Features |
|---|---|
| MMI Account | $2,500.00 minimum balance requirement Variable interest account Interest paid quarterly |
| Super MMI Account | $10,000.00 minimum balance requirement Variable interest account Interest paid quarterly |
| Jumbo MMI Account | $25,000.00 minimum balance requirement Variable interest account Interest paid quarterly |
| Mega MMI Account | $50,000.00 minimum balance requirement Variable interest account Interest paid quarterly |