Savings Account

The right time to start saving is today! Whether you choose a traditional savings or money market account, CD or IRA, we’ve got you covered!

Many employers can deposit money straight from your paycheck into your savings account. You can make the request for Bank of England to regularly transfer money from your checking account to a savings account. If you are enrolled in Internet Banking, you can set up the automatic payments yourself, selecting the time of the month for the transfer.

Account Name Minimum Opening Balance Service fee¹ Interest Credited² Additional Information
Statement Savings $100 $1 each quarter if quarterly average balance is less than $100.00. Service fee is waived for minors under age 18. Quarterly Interest begins to accrue on the business day you deposit non-cash items.
Transfers from a state savings account to another account or to third parties by preauthorized, automatic, or telephone transfers are limited to six per month.
HIFI $1,000 None, unless the minimum daily balance falls below $1,000, then the service charge is $7.00 Monthly This account is restricted to a maximum of six pre-authorized, automatic, or third party transfers per month.
Super HIFI $10,000 None, unless the minimum daily balance falls below $10,000, then the service charge is $10.00 Monthly This account is restricted to a maximum of six pre-authorized, automatic, or third party transfers per month.

 

Interest Rates can change daily.

 

¹ We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

² The average balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in that period. If you close your account before interest is credited, you will not receive the accrued interest.