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"Grandbaby" Savings Account
A specially designed passbook savings account for grandchildren, which pays a preferred rate of interest. Customer must have a checking, savings, or certificate of deposit account to open “Grandbaby” Account.

Account Features
Interest is earned daily from date of deposit. With low minimum deposit to open accounts, customers can afford to open account for all their grandchildren.
Interest will be compounded and credited annually. Annual statement as of date account opened. Customer has the convenience to make passbook deposits at any time.
High annual percentage yield on accounts with balances from $250 - $5,000. Provides a separate account to save for grandchild's education.
Deposits may be made at any time. Excellent way to develop relationship accounts.
FDIC insured.    
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Additional Specifications & Fees
Minimum Opening Deposit $250.00
Monthly Maintenance fee

Monthly maintenance fee is $1.00 for balance less than $25.00.

Other Fees & Charges

Annual percentage yields are tiered as follows:

  • $25 - $249.99
  • $250 - $4,999
  • $5,000 - and over

Account must have at least one adult on the account.

On an annual basis, only 1/3 of the account balance on deposit longer than 12 months may be withdrawn. If additional amounts are withdrawn, a six-month interest penalty will be assessed.

Miscellaneous fees may be assessed against your account. Refer to the Schedule of Fees for a complete listing of these charges.

Miscellaneous fees, activity charges and monthly maintenance fees may reduce the earnings on this account.

Rules & Regulations
   
   

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