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Friday, July 11, 2014

Savings Accounts

DMB Community Bank offers several savings options to help you meet your investment needs. Whether you’re saving for taxes, vacation, or holiday shopping, we have an account for you. A brief description of each of our accounts is listed below along with a chart for comparison.  Click here for current savings rates.

 
Basic Savings Homeowner’s Savings Holiday Club Account
Opening Balance $200 $1 $5
Average Balance to Avoid Service Charge $200 N/A N/A
Service Charge $2* N/A N/A
Debits Per Month 4 Withdrawals 3 Withdrawals Only at Maturity (check mailed last business day in October)
Excess Debit fee $.50 Per Debit $.50 Per Debit $5 and Loss of Interest
* Waived for primary account holders under the age of 18 or 50 years or better.

Basic Savings – Our most popular account. This account requires just a $200 opening deposit and a $200 minimum balance (but we waive these requirements for our customers under 18 and over 49). You’re allowed up to four withdrawals per month without a service charge.

Homeowner’s Savings – A little something extra for our valued DMB Mortgage customers. This account has no minimum opening or ongoing balance requirements and generally earns a higher rate of interest than our Basic Savings account. It’s a great way to save for those expected (and unexpected) expenses that come along with homeownership!

Holiday Club Account – Ever get to December and wish you would have planned and saved throughout the year for those holiday expenses? DMB’s Holiday Club Account is your answer. Work with one of our Financial Services Representatives to set your savings goals. With a low $5 deposit, you can open your account and set up automatic transfers to help you reach your goal. Treat yourself next holiday season by preparing now for those expenses!

For more information on our Savings products and services or to request an account disclosure, please Contact Us or call a Financial Services Representative at 608-846-3711.

Looking to save or invest a little more?? Click here to see DMB’s Money Market account options.