Personal Savings Accounts

SAVING IS KEY TO FINANCIAL HEALTH.

Because no two customers are alike, Prospect Bank offers a variety of personal savings accounts to suit every financial need or savings goal.
Whether you’re saving towards a goal like a new car or a home remodel, or you’re building a nest egg or an emergency fund, our personal savings accounts will help you achieve your goals.

We know everyone’s needs are different, so we’ll work with you to help pick the account type that suits yours.

You can open your savings account online. We explain how on our YouTube Channel.

Watch Here

Savings Accounts

Prospect Daydreamer

A savings account for anyone looking to save for the future or emergency expenses

  • $50 opening deposit required
  • $5 monthly service charge if average balance falls below $50
  • $2 paper statement fee (waived if eStatements or statement is combined with another paper statement)
  • $3 fee per withdrawal over 4 per month (withdrawals include but are not limited to ACH, in person, or online)

TIERS

  • Earn interest quarterly on entire balance at tiered rates
    • $0.01 to $4,999.99
    • $5,000.00 and over
Prospect Apprentice

A savings account for kids up to the age of 18

  • Parent or guardian must have a deposit account with the bank and be a signer on the child’s account
  • No minimum opening deposit amount required
  • No minimum average balance required
  • $3 fee per withdrawal over 4 per month (withdrawals include but are not limited to ACH, in person, or online)

TIERS

  • Earn interest quarterly on entire balance at tiered rates
    • $0.01 to $4,999.99
    • $5,000.00 and over

Club Accounts

Vacation Club

A savings account designed to save money for your next dream vacation

  • $1 opening deposit required
  • No minimum average monthly balance required
  • Interest earned on entire account balance credited at end of club period
  • Regular monthly deposits must be made through Automated Funds Transfers up to $1,000 per month
  • $20 early close fee if funds are withdrawn prior to end of club period (generally April 15th)
Christmas Club

A savings account designed to save money for Christmas

  • $1 opening deposit required
  • No minimum average monthly balance required
  • Interest earned on entire account balance credited at end of club period
  • Regular monthly deposits must be made through Automated Funds Transfers up to $1,000 per month
  • $20 early close fee if funds are withdrawn prior to end of club period (generally October 15th)

Money Market Accounts

Prospect Money Market
  • $10,000.00 minimum opening balance
  • $10,000.00 minimum to avoid service charge

*Interest rate and annual percentage yield (APY) depend on the applicable rate tier. The rate, APY, and tiers may change without notice. Fees could reduce the earnings on the account.

TIERS

  • Earn interest on entire balance at tiered rates
    • $0.01 to $49,999.99
    • $50,000.00 to $99,999.99
    • $100,000.00 to $199,999.99
    • $200,000.00 and over
Prospect Bank PPP Money Market

Deposit PPP loan funds into your Prospect Bank Money Market to keep these funds separated. This will assist you in the forgiveness process of your PPP loan. Organize your funding of wages and other eligible expenses.

No monthly service charge or transaction fees. During any four week or similar period you may not make more than six withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party.

DISCLOSURE: Prospect Bank is not responsible for documenting the forgiveness of the PPP loan. A penalty will or may be imposed for early withdrawals.  See Account Truth In Savings for full details. Interest compounded monthly. FDIC insured to the maximum allowed by law.

TIERS

  • Earn interest on entire balance at tiered rates
    • $0.00 – $349,999.99
    • $350,000.00 – $1,999,999.99
    • $2,000,000.00 AND OVER