Savings Christmas Club
Welch State Bank’s interest-bearing Christmas Club account is an excellent way to save for the Holidays, making things easier on your bank account when Santa comes to town! You decide how much to save, and how often. If you prefer, Welch State Bank can automatically debit your checking account, making it easier to save. When the Holidays roll around and you need the extra cash the most, we’ll mail your check. Call today and find out more about our Christmas Club Accounts.
Small amounts saved regularly can give you the amount you need for Holiday travels, festivities and gifts!
Minimum to Open: $1.00
Monthly Maintenance Fee: FREE
Interest Bearing: YES
Withdrawals: None allowed during the year
The maturity date of this type of account is the 30th day of September of each year; a check will be mailed the first week of October for the principle and interest amount.
The interest rate on this account is 0.10% with an annual percentage yield of 0.10%.
Fees may reduce earnings.
The interest rate(s) and annual percentage yield(s) are accurate as of October 16, 2013. If you would like more current rate and yield information, please call us at (918)788-3373. You will be paid this rate for at least thirty calendar days. We will never decrease this rate unless we give you at least thirty days notice in writing.
Compounding frequency – Interest will be compounded quarterly.
Crediting frequency – Interest will be credited into this account quarterly.
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 $1.00.
Minimum balance to obtain the disclosed annual percentage yield – You must maintain a minimum daily balance of $1.00 in your account each day to obtain the disclosed annual percentage yield.
Deposit limitations – You may make an unlimited number of deposits into your account.
Club account withdrawal limitations – No withdrawals are permitted before maturity. The maturity date of this type of account is the 30th day of September each year; a check will be mailed the first week of October for the principal and interest amount.