Savings - Welch State Bank's Little Savers

Savings – Welch State Bank’s Little Savers

 

 

A savings account designed just for the kids!

Let’s educate our kids about the financial environment! Teach them responsibility and give them confidence just by opening them a savings account. Kids love to go to the bank to get suckers, why not let them make deposits into their own account and save their money for a new car, or a toy if they are just starting out.

Receive free piggy bank when you open your Little Savers Savings account!

Ages: birth to 12 years

Minimum to Open: Only $5.00

Monthly Maintenance Fee: FREE

Interest Bearing: YES, with a daily balance of $50.00 or more

Withdrawals: A fee of $2.29 will be assessed for each withdrawal after the first 3 withdrawals per month. After you exceed 6 in any statement period, your account will be subject to closure by the financial institution.

 

Rate information

At our discretion, we may change the interest rate for this account. 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. The interest rate and annual percentage yield may change at any time.

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 $5.00.

Minimum balance to obtain the disclosed annual percentage yield – You must maintain a minimum daily balance of $5.00 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.

Limitations on frequency of transfers – During any calendar month, you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a pre-authorized or automatic transfer or telephone order or instruction, or by check, draft, debit card or similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account will be subject to closure by the financial institution.

Fees and Charges – The following fees and charges apply to this account: A fee of $2.29 will be assessed for each withdrawal after the first 3 withdrawals per month.

7 Dormant fees do not apply to this account: