Savings, Money Market & CDs

Watch how your money can grow when interest compounds throughout the years. At the Garrett State Bank, we have many saving programs to meet your every need. If you are building for the future or planning retirement, let us be part of realizing your financial dreams. Try many of our helpful financial calculators to see how easy it is to save for the future. All of our deposit products are insured by the FDIC for your protection.


 

 

 

 

 

Regular Savings

  • Minimum opening deposit:  adult - $100.00, child - $25.00
  • Interest computed daily, paid and compounded quarterly
  • Free overdraft protection to your checking
  • Quarterly Statement
  • A $2.00 monthly service fee will be charged if your balance falls below $200.00

 

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Money Market Savings

  • Minimum balance to open is $2,000
  • Can write up to three (3) checks per month
  • No service fee with a $2,000 minimum balance
  • Interest rates are tiered
  • Interest is computed daily, paid and compounded monthly
  • A $5.00 service fee will be charged if the balance falls below $2,000
  • If more than three checks are written per month there is a $5.00 fee per item

 

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Christmas Club Savings Account

  • Low minimum balance of $5 will start this club account
  • Interest is computed daily, compounded monthly and paid at the maturity of the club
  • Receive the total of the account plus earned interest in time to do your Christmas Shopping
  • No service or activity fees.

 

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Certificates of Deposit:

Check out our Future Value calculator to see how your money grows.

  • We have Certificate terms from as little as 91 days to  60 months to meet most investors needs.
  • We offer interest rates that are fixed or rates that vary with the market place.
  • All certificates are insured by the FDIC

 

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Advantage Certificate of Deposit:

A unique Certificate of Deposit that allows YOU to change your rate during the term of the certificate. If rates go up, bring in your rate bump coupon and we will change your rate to the current rate offered for a similar term.

  • Minimum opening balance is $2,500
  • Terms of 24 months with a one time rate adjustment
  • Term of 36 months with a two time rate adjustment

 

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Certificate of Deposit Specials:

Contact our offices for CD promotions. Our specials require an active Checking or Savings account.

  • Minimum opening balance of $1,000
  • Variable terms may apply
  • Interest Payable quarterly
  • Premium rate

 

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