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Personal Savings Accounts

SAVING IS KEY TO FINANCIAL HEALTH.

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.

Personal Savings Accounts

Prospect Daydreamer – OPEN NOW

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

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

Prospect Apprentice – OPEN NOW

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

CLUB ACCOUNTS

Vacation Club – OPEN NOW

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  • $20 early close fee if funds are withdrawn prior to end of club period (generally April 15th)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 – OPEN NOW

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  • $20 early close fee if funds are withdrawn prior to end of club period (generally October 15th)

Prospect Money Market

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

*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.

 

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.

  • 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

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.