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.

  • Personal Savings

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

  • 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.

  • Money Market Account

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

Features
Personal Savings
High Yield Savings
Money Market Account
Minimum Opening Deposit
$25
$1,000
$200
Monthly Service Charge
$5

No monthly service charge with $500 required minimum balance or if the primary account holder is under the age of 25
$25

No monthly service charge with $25,000 required minimum balance
$10

No monthly service charge with $1,000 required minimum balance
Interest Paid
Interest paid on any daily collected balance
Interest paid on minimum $1,000 daily collected balance
Interest paid on minimum $1,000 daily collected balance
Withdrawals1
One free withdrawal per month

Each additional withdrawal is $2*
Limit 6 withdrawals per payment cycle
Limit 6 withdrawals per payment cycle
Overdraft Protection2
From another Jefferson Bank checking or savings account
$5 charge per transfer
$5 charge per transfer
$5 charge per transfer
Free Online Banking3
Mobile Banking and Mobile Deposits3
Free Automated Phone Banking with Jeff-Line
Check and Cash Deposits 24/7 at no bank charge, made at Jefferson Bank ATMs4
Free Combined Monthly Statements
* Due to the Covid-19 pandemic, the Bank is waiving the $2 withdrawal fee through October 31, 2020.

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.7

    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

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.5 When you take distributions from this account, you may pay federal taxes on your account’s investment earnings and pre-tax contributions.6

    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 requirements5.

    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. Distributions6 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.

1 By federal regulation, savings accounts are limited to a combined total of six each month, or statement cycle of the following transactions: checks and pre-authorized withdrawals/transfers (online and telephone transfers, bill payments, overdraft protection transfers and automatic debits, for example).

2 Account may be linked to a line of credit which is subject to credit approval.

3 While Jefferson Bank does not charge fees for the use of Mobile Banking or Online Banking, message and data rates may apply. Check with your service provider for details

4 Check deposits are not immediately accessible against your Available Balance. Check deposits are limited to a $5,000 daily credit on your Current Balance. If a check deposit exceeds the $5,000 daily limit, an overnight hold will be administered for funds in excess of the daily limit.

5 Consult your tax advisor.

6 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.

7 A penalty may be imposed for early withdrawal.

Jefferson Bank is chartered under the laws of the State of Texas and by state law is subject to regulatory oversight by the Texas Department of Banking. Any consumer wishing to file a complaint against Jefferson Bank should contact the Texas Department of Banking through one of the means indicated below:

In Person or U.S. Mail : 2601 North Lamar Boulevard, Suite 300, Austin, Texas 78705-4294

Telephone No: (877) 276-5554, Fax No.: (512) 475-1313

Email: [email protected]

Website: www.dob.texas.gov.