Personal Savings
Savings accounts help you keep your hard-earned reserves safe and secure. We offer traditional savings accounts, CDs and IRAs to help you make the most of your money. With a range of personal savings accounts, we make it easy to choose the one that best fits your needs and lifestyle. All personal checking accounts come with Online Banking and e-Statements.
Choose from one of Commonwealth Bank & Trust’s options to help meet your savings goals.
Statement Savings
Whether you want to save a little or a lot, you will earn interest plus have easy access to your account.
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Monthly Maintenance Fee
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Minimum Daily Balance
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Fall-Below Fee
- $6 fee for balances below $100 (once per statement cycle)
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Withdrawals
- 6 free withdrawals and/or transfers per month*
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Excessive Withdrawal Penalty
- $1.95 for any withdrawals and/or transfers exceeding 6 per month*
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Deposits
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Interest
- Compounded daily, paid quarterly on all collected balances
*Federal regulations limit the number of withdrawals and/or transfers that may be made from a savings account by telephone/PC transfer, pre-authorized transfer, check or debit card. You are limited to six withdrawals and/or transfers from your savings account each month by pre-authorized transfer or telephone/PC transfer, including bill payments. And, if the account permits, transfers by check or debit card. A $1.95 charge is assessed after 6 for Statement Savings and Prime Savings Accounts.
Minor Statement Savings
This is a great starter savings account and is designed specifically for children under the age of 18. Once the customer reaches 18 years of age, the Minor Statement Savings Account will be transferred to a Statement Savings Account. Interest is earned on all balances.
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Monthly Maintenance Fee
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Minimum Daily Balance
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Fall-Below Fee
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Withdrawals
- 6 free withdrawals and/or transfers per month*
-
Excessive Withdrawal Penalty
- $1.95 for any withdrawals and/or transfers exceeding 6 per month*
-
Deposits
-
Interest
- Compounded daily, paid quarterly on all collected balances
*Federal regulations limit the number of withdrawals and/or transfers that may be made from a savings account by telephone/PC transfer, pre-authorized transfer, check or debit card. You are limited to six withdrawals and/or transfers from your savings account each month by pre-authorized transfer or telephone/PC transfer, including bill payments. And, if the account permits, transfers by check or debit card. A $1.95 charge is assessed after 6 for Statement Savings and Prime Savings Accounts.
Prime Savings
This account is ideal for customers wanting to save money but still have easy access to it. Opening deposit requirement is $5,000 not currently deposited at Commonwealth Bank & Trust, along with a primary checking account.
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Monthly Maintenance Fee
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Minimum Opening Deposit
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Minimum Daily Balance
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Fall-Below Fee
- $10 fee for daily current balances under $5,000 (once per statement cycle)
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Deposits
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Interest
- Compounded daily on all daily collected balances on tiered levels
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Withdrawals
- 6 free withdrawals and/or transfers per month*
-
Excessive Withdrawal Penalty
- $1.95 for any withdrawal and/or transfers exceeding 6 per month*
*Federal regulations limit the number of withdrawals and/or transfers that may be made from a savings account by telephone/PC transfer, pre-authorized transfer, check or debit card. You are limited to six withdrawals and/or transfers from your savings account each month by pre-authorized transfer or telephone/PC transfer, including bill payments. And, if the account permits, transfers by check or debit card. A $1.95 charge is assessed after 6 for Statement Savings and Prime Savings Accounts.
IRA Savings
IRA Savings can be used when your IRA has matured, but you do not yet have plans for the money. There is also an option to put money into an IRA without specifying any particular term. Consult a tax adviser for guidance.
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Minimum Opening Deposit
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Minimum Daily Balance
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Fees
- No fees associated with this account
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Interest
- Accrued daily, compounded every 1 day for all collected balances, paid quarterly
Personal Savings Rates
Rates effective for the week of 6.27.2017
| Account Type | Min. Balance to Open | Min. Daily Balance to Obtain APY* | Interest Rate** | Annual Percentage Yield |
| Statement | $100 | $100 | 0.10% | 0.10% |
| Prime | $5,000 | $0 to $4,999
$5,000 to $49,999
$50,000 to $99,999
$100,000+ | 0.10%
0.35%
0.50%
0.50% | 0.10%
0.35%
0.50%
0.50% |
| Minor Statement | $100 | $0 | 0.10% | 0.10% |
| IRA Savings | $100 | $0 | 0.03% | 0.03% |
*Federal regulations limit the number of withdrawals and/or transfers that may be made from a savings account by telephone/PC transfer, pre-authorized transfer, check or debit card. You are limited to six withdrawals and/or transfers from your savings account each month by pre-authorized transfer or telephone/PC transfer, including bill payments. And, if the account permits, transfers by check or debit card.
We may change the interest rates and APY’s at any time after the account has been opened.
See detailed product pages above or ask a banker for details.
