Personal savings

We’re your Easy Hometown Choice for all your banking needs – always at your convenience.

Savings

  • $100 minimum opening deposit
  • $100 minimum balance to avoid $2 monthly service charge fee
  • Variable Tiered interest rates beginning with balances of $100 or more**  
  • Interest is calculated on daily balance and credited quarterly
  • Interest begins to accrue on the day you deposit noncash items (for example checks)
  • Monthly statements on activity
  • Can make internet transfers to a Checking or another Statement Savings Account you own at Community Savings Bank***

Money Market

CDs

A Certificate of Deposit is a terrific way to manage your finances to meet your individual time-specific investment needs. We offer Certificates of Deposit that range in terms of 3 months to 72 months.

  • $1,000 minimum opening deposit
  • Certificates of Deposit and IRAs earn a fixed interest rate and no additional deposits can be made until maturity.*
  • Interest begins to accrue on noncash items (for example checks) the business day you deposit the item(s).
  • Certificate of Deposit and IRA penalties for early withdrawal: A penalty equal to one half of the term's interest will be charged to your account.
  • Certificates of Deposit and IRAs will automatically renew at the current rate paid on the particular term. Grace periods: CD Term 3 months through 12 months – Grace period of 7 days will be granted; CD Term over 12 months - Grace period of 10 days will be granted.
  • A certificate maturity notice will be mailed to you approximately one month prior to the CD’s maturity.
  • Click here for current interest rates

Individual Retirement Accounts (IRAs)

An IRA (Individual Retirement Account) is a personal savings plan established by individuals to provide supplemental income at retirement. Community Savings Bank offers both Traditional and Roth Individual Retirement Accounts (IRAs). Our Certificate of Deposit terms and rates apply, and range in terms of 3 months to 72 months.

Traditional IRAs can offer immediate tax benefits. All earnings grow tax-deferred until withdrawn and contributions may be tax-deductible. Must be under the age of 70 ½ and have earned income within government guidelines. Roth IRAs are non-deductible contributions to accounts that feature tax-free withdrawals for certain distribution reasons after a five-year holding period. No age restrictions, but must have earned income within government guidelines.

For 2018, the maximum you can contribute to all of your traditional and Roth IRAs is the smaller of:

  • $5,500 ($6,500 if you’re age 50 or older), or
  • your taxable compensation for the year.

The IRA contribution limit does not apply to:

  • Rollover contributions
  • Qualified reservist repayments

*The maximum deductible contribution to a traditional IRA and the maximum contribution to a Roth IRA may be reduced depending on your modified adjusted gross income.

Our Certificate of Deposit terms and rates apply, and range in terms of 3 months to 72 months.

  • $1,000 minimum opening deposit
  • Certificates of Deposit and IRAs earn a fixed interest rate and no additional deposits can be made until maturity.*
  • Interest begins to accrue on noncash items (for example checks) the business day you deposit the item(s).
  • Certificate of Deposit and IRA penalties for early withdrawal: A penalty equal to one half of the term's interest will be charged to your account.
  • Certificates of Deposit and IRAs will automatically renew at the current rate paid on the particular term. Grace periods: CD Term 3 months through 12 months – Grace period of 7 days will be granted; CD Term over 12 months - Grace period of 10 days will be granted.
  • A certificate maturity notice will be mailed to you approximately one month prior to the CD’s maturity.
    Click here for current interest rates

*The Annual Percentage Yield assumes interest will remain on deposit until maturity. A withdrawal or any fees will reduce earnings.
**Please contact us or check our current rates. Rates are subject to change without notice.
***Certain restrictions apply - Please contact us for more information.

 

 

 

 

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