Savings Account

A savings account is an easy way to set aside funds for a “rainy day” or accumulate dollars for an upcoming expense or purchase. Use a savings account to start a young person on the path of responsible money management or to save for higher education. You can set money aside for the grandchildren, a special event, or an emergency. You can even set up automatic transfers from your checking account or CD interest to your savings account.

Please visit the “Deposit Rates” link below for the current savings account rates available.  

Deposit Rates


A minimum deposit of $10.00 is required to open the account.

Interest Earnings

Interest earned is credited and compounded to the account monthly. If you close your account before interest is credited, you will not receive the accrued interest. If the average daily balance of the account for any month is less than $25.00, no interest will be earned for that period.

Interest is calculated on the average daily balance. Such average balance of an account is determined by adding the balance of the account for each day of the month and dividing that sum by the number of days in the month. Interest begins to accrue on non-cash deposits no later than the first business day following the day on which the deposit posts to the account. Checks are considered non-cash items.

The interest rate and Annual Percentage Yield may change. At our discretion, we may change the interest rate on your account monthly. The account statement will report the Annual Percentage Yield. You may call the bank anytime to learn the current interest rate the account is earning.

Transfers and Withdrawals

You may make transfers from your savings account to another account of yours within the bank either by a phone call to us or by signing a withdrawal order at our offices. You may withdraw cash by signing a withdrawal order at our offices. On interest bearing accounts, except time certificates of deposit, we reserve the right to require at least seven days written notice before any withdrawal or transfer.

You may not have a bank debit card for this account. We do not allow pre-authorized automatic debits against savings accounts to pay third parties. You may receive automatic deposits to a savings account.

During any calendar month, 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, a telephone order, a check or draft, electronic means including internet banking, or a similar order to a third party. If you exceed the transfer limitations set forth above in any statement period, your account may be subject to closure by the financial institution.

Service Charges

Your account will be charged $.50 for each withdrawal or transfer in excess of three during a month if the average daily balance is less than $1,000.00.

You may apply for internet banking access to use with this account. If your application is accepted, you may incur charges related to your internet banking activities. These charges are disclosed in a separate agreement upon application for internet banking.

Other charges that you may incur are disclosed in a separate statement given to you at account opening.

Periodic Account Statements

We mail account statements to you monthly. If you have a checking account, NOW account, or Money Market account with the Brunswick State Bank, your savings statement will be combined with these statements. You may have your passbook updated at our offices during any business day.

If you have questions about this account, please:

Contact Us


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