Savings Accounts
A Personal Savings Account at Baytree is designed for low or high balances of funds to grow for future use. Typical uses for this account are saving for taxes, special events, vacations, or for the future of a child. This account has a $100 minimum deposit requirement to open and a $500 average collected monthly balance to avoid a $5 monthly fee.
All amounts deposited above $0 are paid the same rate. Rates fluctuate according to market conditions and are subject to change. Interest is compounded and credited monthly. Interest begins to accrue the day cash items are deposited and the business day that non-cash items are credited. We use the daily balance method to calculate interest on accounts. This method applies a daily periodic rate to the principal in the account each day.
Statements on this account are generated quarterly unless a transaction takes place within the month. Then, a monthly statement prints and is mailed.
Savings Accounts allow you to make an unlimited number of withdrawals by mail or automated teller machines (ATMs). However, federal regulations permit only six pre-authorized automatic or telephone transfers from your Savings Account per monthly statement cycle. Transactions that exceed the limitations will be rejected and a service charge may be imposed.
An ATM Card is available for this account. The ATM card may be used for the convenience of balance inquiry and withdrawals. Federal regulations permit only six pre-authorized automatic transfers from your Savings Account per monthly statement cycle. There are no transaction charges for ATM usage within the STAR no fee network. Please refer to the service schedules for details on these services and fees that may apply.
Internet Banking and BillPay services are also available with no annual fees and no transaction charges. Internet banking may incur charges from your On-Line service provider that are not associated with Baytree National Bank & Trust Company.
Point-of-Sale transactions with a VISA Debit Card are not permitted for Savings Accounts and will be declined. Federal regulations applicable to Savings Accounts provide that we must retain the right to require at least seven days notice prior to any withdrawal.
Click below for two forms to help you start to open an account. Just fill out these forms, print them and bring them in to a personal banker at one of our locations. This will save time in the account opening process. Please be sure to bring in a valid picture ID for legal requirements.
