Savings / Certificates of Deposit / IRA's
Saving is the best way to plan for emergencies, special purchases, and retirement. Bay Bank offers competitive rates on all of our Personal and Business savings products.
| Benefits |
Classic Savings |
Bay Kids Savings |
Classic Money Market |
| Opening Deposit |
$50 |
$25 |
$2,500 |
| Interest Bearing |
 |
|
Tiered based on account balance |
| Minimum Daily Balance |
$200 |
$25 |
$2,500 |
| Monthly Maintenance Fee |
$3 if balance falls below $200 |
$3 if balance falls below $25 within the statement cycle |
$10 if balance falls below $2,500 |
| Checking Account Required |
N/A |
N/A |
N/A |
| Deposit Requirements |
N/A |
*One required deposit per statement cycle (no minimum deposit amount) |
N/A |
| Withdrawals |
$1 per withdrawal after 3 |
No charge |
3 free checks/month -
$5 per check after 3
6 free withdrawals/month -
$5 per withdrawal after 6 |
| Account Statements |
Quarterly |
Quarterly |
Quarterly |
| *A $3 non-deposit fee will be assessed if a deposit is not made within the statement cycle. |
Certificates of Deposit
Premier CD
With Bay Bank’s Premier CDs, you can invest as little as $500 and lock in a fixed rate of interest. We offer a variety of maturities that range from 28 days to 60 months.
Growth CD
- $500 Minimum Opening Amount
- Interest is Compounded and Credited Monthly
Income CD
- $5,000 Minimum Opening Amount
- Interest Earned can be Credited to Another Bay Bank Account or a Check can be Issued Monthly, Quarterly, Semi-Annually or Annually
Premier Treasury CD*
- $500 Minimum Opening Amount
- Make additional deposits of as little as $100
- Variable interest rate that changes with the interest rate of a 90-day Treasury Bill
*12-Month Term CD Only.
Individual Retirement Account (IRA)
An IRA is a personal savings plan that provides income tax advantages to individuals saving money for retirement purposes. Bay Bank offers both Traditional and Roth IRAs. Individuals with earned income may contribute annually to an IRA account.
Premier Growth IRA
- $500 Minimum Opening Amount
- Interest is Compounded and Credited Monthly
- Terms from 12 to 60 months
- Competitive Interest Rates
- Possible Tax Advantages*
*Consult your tax advisor.
Premier Treasury IRA
- 12-month Term Only
- $100 Minimum Opening Amount
- Additional Deposits Permitted (minimum $25)
- Variable Interest Rate – Indexed to the 90-day Treasury Bill
- Interest is Compounded and Credited Monthly
- Possible Tax Advantages*
*Consult your tax advisor.