With competitive rates and a high level of security, our money market accounts, saving accounts and CDs can be a valuable mix in any financial plan. Or, if you're looking for the foundation to your retirement strategy, our IRAs allow your earnings to grow either tax-free or tax-deferred.
|Personal Interest Bearing Savings Accounts|
|Century MMA||Silver Savings||Ultimate Savings|
|Monthly Service Charge||NONE if balance over $10,000; under $10,000, $12||NONE if balance over $2,500; under $2,500, $6||NONE if balance over $2500; under $2,500, $12||NONE if balance over $500; under $500, $25||NONE if balance over $500; under $500, $25|
|Transactions||Free credits; Limited Debits/Checks3||Free credits; Limited Debits/Checks3||Free credits; Limited Debits/Checks3; First order of B&K checks free||1 withdrawal per month; $2 per withdrawal thereafter||1 withdrawal per month; $2 per withdrawal thereafter|
|Interest||Variable tiered interest rate determined by avg daily balance; compounded & paid monthly on avg collected balance1,2,3||Variable interest rate compounded by daily balance & paid monthly on collected balance1,2,3||Variable tiered interest rate determined by avg daily balance; compounded & paid monthly on avg collected balance1,2,3||Variable interest rate compounded daily & paid quarterly on collected balance1,2,3||Variable tiered interest rate determined by avg daily balance; compounded & paid monthly on collected balance1,2,3|
|MasterCard Debit Card4||N/A||$1 month||Free||N/A||N/A|
|Free Online Banking||YES||YES||YES||YES||YES|
|Free Online Bill Pay||YES||YES||YES||N/A||N/A|
|Monthly Paper Statement with check images||YES||YES||YES||Quarterly||Quarterly|
|Monthly eStatement with check images||YES||YES||YES||Quarterly||Quarterly|
|Safe Deposit Box||
3x5: $21*/$24; 5x5: $30*/$33; 3x10: $40*/$45; 5x10: $60*/$65; 10x10: $110*/$120
*Designates discount for automatic debit; Contents of boxes not FDIC insured
|All foreign ATM withdrawals $1.00; ATM daily limit $500|
1(Annual Percentage Yield and interest rate are available upon request.) The APY and interest rate may change. Interest is calculated using the daily balance method.
2Interest compounds monthly and is credited to the account monthly.
3Withdrawals are limited by federal regulations. Preauthorized transfers are limited to 6 per month. Unlimited withdrawals are allowed by mail, ATM, or in person. An excessive withdrawal fee will be assessed if an account exceeds these limits.
4Subject to credit approval.
5Fee waived for Students, Minors, & Over 50.
Money Market Account
The Money Market Access (MMA) account gives you the security of FDIC insurance and the advantage of a money market interest rate that compounds monthly and may change daily – Fee Free if your daily balance is $2500.
Century Money Market
Higher variable rate account with interest tiers that reward you for higher balances and offers the security of FDIC insurance – Fee Free if your daily balance is $2500.
B&K Silver Savings
Earn competitive interest and pay no maintenance fees as long as you maintain a daily minimum balance of $500.
Silver Savings Free
Designed for savings customers 50 and over along with minors and full time students. Silver Savings Free is an interest earning savings account with NO MONTHLY MAINTENANCE FEES and NO MINIMUM DAILY BALANCE REQUIREMENT.
Begin saving November 1st each year so you will have your Christmas gift money for the next year - for no fee. To have your Christmas gift money available to you in mid October, you may automatically transfer from your B&K checking or savings to your Christmas savings as often as you wish.
U.S. Savings Bonds
Important change to U.S. Savings Bonds January 2012:
Paper savings bonds will no longer be sold at financial institutions after December 31, 2011. Only the paper is going away! Electronic Savings bonds can be purchased online through TreasuryDirect. Open a free TreasuryDirect account today at www.treasurydirect.gov.
Existing paper bonds are still valid and will earn interest for 30 years from the issue date or until redeemed. You can continue to cash savings bonds at B&K.
Learn more at www.treasurydirect.gov
Certificates Of Deposit
Maturities that range from 3 to 60 months with competitive interest paid annually and at maturity.
For current rates, simply call a Personal Banker toll free at 1-866-4bkbank or email firstname.lastname@example.org
- Contributions are fully tax-deductible if you are not covered by a retirement plan at work.
- Earnings grow tax deferred
- Eligible individuals can make tax-deductible contributions up to the annual limit.
- Earnings are tax free—not just tax deferred—if you meet IRS eligibility guidelines (see your tax advisor)
- Yearly annual contributions allowed with no age limit
- Flexible investment options
If you have just changed jobs, or have a 401(k) from a previous employer you may consider rolling over your valuable retirement assets into a B&K Rollover IRA.
- Allows you to make investment decisions for your assets rather than being limited to your previous employer's options;
- Avoids the IRS penalty tax that you would have to pay for taking a cash distribution.
- Allows multiple investment choices for diversification
CDARS, (pronounced “cedars”), the Certificate of Deposit Account Registry Service allows you to keep up to $50 million --- should you be so fortunate --- invested in CDs at B&K and still be completely covered by FDIC insurance. Promontory Interfinancial Network acts a clearinghouse, matching deposits from one institution with another institution. The customer receives one consolidated statement from B&K detailing his/her CDs. The CDARS minimum investment is $10,000. In other words, the customer needs to have $250,000 on deposit in B&K and at least $10,000 for an additional insured deposit through the CDARS network.