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Personal Savings

The traditional savings account is a great way to build your savings while earning interest on your money.  Now minors and students have no minimum balance requirements to fulfill, adding yet another reason to get started saving today.  Remember, we offer same day credit on deposits made before 6pm, Monday - Friday.  Details below:

Rate information - Contact Roscoe State Bank for current rate information.

Compounding frequency - Interest will be compounded quarterly.

Crediting frequency - Interest will be credited into this account quarterly.

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 - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.

Minimum balance to open - The minimum balance required to open this account is $200.00.

Minimum balance to avoid Minimum Balance Fee - If your balance falls below $200.00 on any day in the statement cycle, we will impose a service charge fee of $4.00 for that statement cycle. 

Deposit limitations - You may make an unlimited number of deposits into your account. 

Limitations on frequency of transfers - During any monthly cycle, you may not make more than six (6) withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction or by check, draft, debit card (if applicable) or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure. 

Fees and Charges - The following fees and charges apply to this account: 

·Per item fee.:  A per item fee of $3.00 will be charged for each withdrawal in excess of three (3) per quarterly statement cycle.

 

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