Savings Accounts
Your money should be working for you. That’s why we offer several different types of savings accounts to fit your stage of life and priorities. Scroll down to learn more.
Why Open a Savings Account?
Everyone deserves the safety and security that comes with a savings account. The biggest benefit to opening a savings account with us is that your money will grow (all savings accounts pay interest!) while keeping your funds easily accessible. That means in the case of an emergency or even just a life event, you can count on your money to be there. Having a savings account is a crucial part of being financially secure and we’re here to make that vision a reality.
Type of Account:
Christmas Club
Opening Deposit Required:
$5
Minimum Balance Fee:
No minimum balance fee.
Transaction Limitations:
Withdraw term from early September to late September
Interest Paid:
Yes
Interest credited to account at maturity, no compounding.
Account Note:
The amount that you choose will be transferred from a checking or savings account weekly.
Type of Account:
Get Away Club
Opening Deposit Required:
$10
Minimum Balance Fee:
No minimum balance fee.
Transaction Limitations:
Withdraw term from April to mid-March
Interest Paid:
Yes
Interest credited to account at maturity, no compounding.
Account Note:
The amount that you choose will be transferred from a checking or savings account weekly.
Type of Account:
Statement
Opening Deposit Required:
$100
(Students and Seniors may open with less.)
Minimum Balance Fee:
Below $100 -$5/Month
$100 & Above -No Charge.
Transaction Limitations:
Three withdrawals per month before fees imposed but other transaction limitations apply.
Interest Paid:
Yes
Compounded and credited quarterly.
Account Note:
–
Type of Account:
Piggy Bank Freedom
Opening Deposit Required:
$10
Minimum Balance Fee:
No minimum balance fee.
Transaction Limitations:
Three withdrawals per month before fees imposed but other transaction limitations apply.
Interest Paid:
Yes
Compounded and credited quarterly.
Account Note:
–
Type of Account:
Park It Money Market
Opening Deposit Required:
$25,000
Minimum Balance Fee:
Below $25,000
Fee of $25
Transaction Limitations:
Three withdrawals per month before fees imposed but other transaction limitations apply.
Interest Paid:
Yes
Variable interest rate, compounded and credited monthly.
If balance falls below $25,000 interest is not paid.
Account Note:
–
Type of Account:
Health Saving Account
Opening Deposit Required:
$100
Minimum Balance Fee:
No minimum balance Fees
Transaction Limitations:
Unlimited Transactions
Interest Paid:
Yes
Interest bearing-tiered rate. Compounded monthly.
and credited to the account.
Account Note:
High Deductible Health as Required
Type of Account:
Green for Grades
Opening Deposit Required:
$10
Minimum Balance Fee:
No minimum balance fee.
Transaction Limitations:
Three withdrawals per month before fees imposed but other transaction limitations apply.
Interest Paid:
Yes
Compounded and credited quarterly.
Account Note:
Child must have a Piggy Bank Freedom account already open or is required to open this account with an account opening of $10.00. We pay $1.00 for each A and B received on your report card, any age, any grade. Mid-terms do not apply. Other stipulations may apply.
Wealth Begins Here
One of the easiest and safest ways to invest in your future and grow your wealth is to open an IRA. IRA’s shield the growth of your investments from taxation. This lets your money grow faster than it otherwise would.
Roth IRA
Grow your wealth by contributing after-tax dollars to this retirement account where your dollars will grow tax-free.
Fixed IRA
Plan for retirement by saving now and paying taxes later, all while making interest that accrues daily.
Variable IRA
Choose from a Roth or Fixed IRA with as little as $5 and take out the interest penalty-free when you need it most.
Certificate of Deposit
PBK Bank strives to offer a wide range of Certificate of Deposits and to provide them as competitive as possible. Some of the features of our Certificate of Deposits are as follows:
- Terms ranging from 7 days to 60 months
- Minimum opening deposit of $2000.00
- Certificate of Deposits automatically renew after 10 days past maturity at the best available rate of interest as posted at PBK Bank for similarly issued certificates of like term.
- Flexible options of how you want your interest handled, you can have it added back to the COD, direct deposited into your PBK Bank checking or savings account..
A penalty may be imposed for early withdrawal
Please contact a Customer Service Specialist today for more details about our Individual Retirement Account rates at the numbers below or click here to email us.
Lincoln County: 606.365.7098
Boyle County: 859.238.2265
Rockcastle County: 606.256.BANK (2265)
Consult your tax advisor about any potential tax implications related to IRAs