Personal Savings Accounts

Set yourself up for financial success and help eliminate potential stress later in life. Save money to send your child to your alma mater or for the down payment on your dream home. Put aside money for a memorable family vacation or build your nest egg for retirement. Whatever your long or short-term goals, we have a savings product available to help you reach them.

Now it’s simply a matter of selecting the account with the features that meet your needs.

We can match the perfect account or combination of accounts to meet your unique needs.

  • High Yield Savings

    Our premier, high yield product is designed to help you get the most out of your savings. The Personal High Yield Savings Account pays tiered, variable interest with no withdrawal or transaction fee1. It’s an ideal solution for overdraft protection.

  • Personal Savings

    We offer this traditional, flexible account to meet the basic savings needs of all customers.

  • Minor Savings

    Our Minor Savings Account is the perfect account to start a young person on the path to financial responsibility.

  • Money Market

    Competitive rates and interest that compounds monthly makes our Money Market Account a smart option to earn you even more on your money.

Features
High Yield Savings
Personal Savings
Minor Savings
Money Market
Minimum Opening Deposit
$1,000
$25
$25
$200
Monthly Service Charge
No monthly service charge with $25,000 required minimum balance.

$25 monthly service charge if balance falls below $25,000.
No monthly service charge with $500 required minimum balance.

$5 monthly service charge if balance falls below $500.
No monthly service charge with $25 required minimum balance.

$5 monthly service charge if balance falls below $25.
No monthly service charge with $1,000 required minimum balance.

$10 monthly service charge if balance falls below $1,000.
Interest Paid
Interest paid on minimum $1,000 daily collected balance.
Interest paid on any daily collected balance.
Interest paid on any daily collected balance.
Interest paid on minimum $1,000 daily collected balance.
Withdrawals
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One free withdrawal per month.

Each additional withdrawal is $2.
One free withdrawal per month.

Each additional withdrawal is $2.
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ATM Card2
Free Online Banking6
Mobile Banking and Mobile Deposits at No Bank Charge6
Free Bill Pay
Free Automated Phone Banking with Jeff-Line
Free Combined Monthly Statements
Can be linked to another Jefferson Bank account for overdraft protection.

Personal - Certificates of Deposit (CDs)

  • CD

    Application

    Guaranteed rates and FDIC protection combine to make Jefferson Bank CDs a sound, sensible way to protect and grow your money. Automatically renewable, our CDs pay competitive rates with varying terms available to match your investment needs.5

    Minimum Opening Deposit

    • Regular CD: $1,000
    • Jumbo CD: $100,000
    • $1,000 minimum daily balance required to obtain the advertised Annual Percentage Yield (APY).

     

    See Rates

  • Triple Option CD

    Application

    This exclusive Jefferson Bank savings product offers the freedom and flexibility of a savings account with the interest advantages of a CD. If rates go up, you can adjust your rate once during the term of your CD, and you can withdraw up to 25% of your investment without penalty.

    Features, Rates and Fees

    • Increase your rate once during the term
    • Make additional deposits to the CD, anytime
      • $1,000 minimum required for additional deposits
    • Withdraw up to 25% of the CD without incurring a penalty
    • Additional withdrawals beyond the one permitted are subject to early withdrawal penalties.5

    Minimum opening deposit:

    • Regular CD: $5,000
    • Jumbo CD: $100,000
    • $5,000 minimum daily balance required to obtain the advertised Annual Percentage Yield (APY).

    See Rates

Individual Retirement Accounts (IRAs)

IRAs are perfect to create a tax-deferred or tax-free way of saving for retirement. We offer a full line of IRAs to assist you in planning for the future. 

  • Traditional IRA

    Application

    A Traditional IRA allows you to save for retirement by contributing funds from your income to the account on a before tax basis.

    Contributions made to a traditional IRA may be tax-deductible.3 When you take distributions from this account, you may pay federal taxes on your account’s investment earnings and pre-tax contributions.4

    You may no longer make contributions for the year in which you reach age 70½ -- or in later years.

    Generally, you must begin taking withdrawals from a Traditional IRA by April 1 following the year in which you reach age 70½.

  • Roth IRA

    Application

    A Roth IRA allows you to save for retirement by contributing funds from your income to the account after taxes.

    Contributions are made on an after-tax basis and are not eligible for a tax deduction. You do not pay federal taxes on your withdrawals (including investment earnings) if you meet certain requirements3.

    You may continue making Roth IRA contributions after age 70½ if you have earned income.

    You are not required to take mandatory distributions at any age during your lifetime.

  • Simplified Employee Pension (SEP)

    SEP

    Application

    SEP plans provide a source of income at retirement by allowing employers to set aside money in retirement accounts for themselves and their employees. These accounts do not have the start-up and operating costs of a conventional retirement plan, and they allow for a contribution of up to 25% of each employee’s pay.

    With a SEP, only the employer contributes to the account. An account is set up for each employee, and the employee has 100% ownership of the money invested. Employers must contribute equally for all eligible employees.

  • Educational IRA

    Application

    Also known as a Coverdell Education Savings Account, this IRA is set up to pay for qualified education expenses for a designated beneficiary. When the account is established, the beneficiary must be under the age of 18 or a special needs beneficiary.

    Contributions are not tax-deductible, but the money deposited into this IRA can grow tax-free until distributed. Distributions4 are tax-free as long as they are not more than the beneficiary’s adjusted qualified education expenses for the year.

    Contributions to an Educational IRA cannot total more than $2,000 per year. Multiple Education IRAs can be set up for the same beneficiary; however, the total amount of contributions cannot exceed $2,000, regardless of the number of accounts.

The contemporary financial services you want delivered with the personal touch of a neighborhood bank.
That’s a combination you’ll only find at Jefferson Bank. This is personal to us.

 

Notices & Disclosures

The Truth in Savings Act requires disclosures to be available on all consumer deposit accounts. Please inquire at any Jefferson Bank location for a Truth in Savings Act disclosure.
Federal regulations limit the number of transfers from a savings account to another account or to a third party by pre-authorized, automatic, telephone or computer transfer, or by check, draft, debit card or similar order, to six per month or statement cycle.

Certain transfers from Savings accounts are limited by federal regulation.

2 Debit card is only available for signature "Credit" and ATM/PIN Transactions.

3 Consult your tax advisor.

4 If the CD is not at maturity or in the 10 day grace period, there will be a bank penalty of six month’s interest. IRS penalties for early withdrawal may apply.

5 Penalty may be imposed for early withdrawal.

6 While Jefferson Bank does not charge fees for the use of mobile banking, standard internet service rates may apply. Check with your mobile service provider for details.