Our Statement Savings account is a great way to start saving for the future!
Contact us today to open your Statement Savings.
- Competitive interest rate*
- Access your money when you need it without withdrawal penalties
- Unlimited Metamora State Bank ATM transactions at no charge
- A minimum of $25.00 to open the account
- A charge of $30.00 will be applied if the account is closed within 6 months of opening
- A monthly maintenance fee of $3.00 unless one of the following conditions is met:
- Maintain a minimum daily balance of $200.00
- OR you are under the age of 18
- OR you are over the age of 62
- OR you are a full-time student
- This interest-bearing savings account accrues interest daily and credits interest quarterly*. If you close your account before interest is credited, you will not receive the accrued interest
- The following transaction limitations do apply:
- You may make only six (6) preauthorized transfers or over the counter withdrawals from your account per month. Preauthorized transfers include telephone transfers and automatic deductions and will be considered paid in the month they are posted to the account
- A charge of $5.00 per transaction over the limit
*These accounts pay interest at a variable rate and rates may vary based on the balance in your account. We may change the interest rate and annual percentage yield at our discretion and as often as daily. There are no limits on the amount that the interest rate or annual percentage yield may change.
We use the daily balance method to calculate the interest on accounts. We apply the daily periodic rate to the principal balance in the account each day. Interest begins to accrue on the business day we receive credit for your deposit of non-cash items (for example, checks).
Interest accrues daily and is credited to your account quarterly (March, June, September, and December). If you close your account before interest is credited, you will not receive the accrued interest.
An IRA is still a great way to save for retirement!
Many people can still deduct the full amount of their IRA contributions for income tax purposes. Even if you can’t take the deduction, the interest you earn is tax-deferred until you withdraw your money at retirement.