Statement Savings Accounts
- Minimum balance to open $25.00.
- Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account.
- Withdrawals made by checks, ACH or similar order payable to third parties are prohibited.
- This is a limited transaction account. Telephone transfers, internet banking transfers and in-house transfers/withdrawals are limited to two (2) per month. If there is excessive abuse of the limited transactions, Bank of Clarkson has the right to refuse the transfer, or to close the account. Excessive may be defined as more than three abuses in twelve months.
- Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
- The interest rate on your account will be paid through the last day of the quarter.
- Interest will be compounded quarterly and credited to your account on the last business day of each quarter. If you close your account before interest is credited, you will not receive the accrued interest.
- We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.
- A $1.00 service charge will be assessed the last business day of each month the balance drops below $25.00 any day of the month.
- Two free withdrawals per month. Each additional withdrawal will be assessed a $1.00 service charge.
- Quarterly statements.
- Free On-line Banking.
- Free Telephone Banking.
- See Other Services and Fee Schedule.
Last updated on Aug 14, 2018