| ||Savings ||Money Market ||Certificate of Deposit (CD) |
|LSB Savings is a basic FDIC-insured savings account that is great for all savers. ||An LSB Money Market Account is an excellent short-term investment and savings tool! It offers a tiered rate structure and the protection of FDIC insurance. ||A CD works well for those savers who wish to earn a little more interest on their money and don't need access to their money for the term of the CD. |
|Minimum Amount |
|$5 ||$1,000 ||$2,500 |
|Average Collected Daily Balance ||A minimum collected daily balance of $0.01 is required to obtain the disclosed annual percentage yield.** ||A minimum collected daily balance of $0.01 is required to obtain the disclosed annual percentage yield.** || N/A |
|Interest Computation ||Interest compounded on a daily basis and credited to the account semi-annually (Last day of May and November) ||Interest will be compounded on a monthly basis. Interest will be credited to your account every statement cycle. The period we use is the monthly statement cycle. ||Interest payment is based on the daily balance method. This method applies a daily periodic rate to the balance in the account each day. |
|Monthly Service Charges ||$2.50 monthly maintenance fee is waived if a $250.00 (or greater) average collected daily balance is maintained for the month ||$5.00 transaction fee per transaction in excess of six (6) per statement cycle. || N/A |
|Statements ||Statements are mailed semi-annually, If an account has an ATM or Debit card, statements will be monthly. ||Imaged statements are mailed monthly. || N/A |
|Transactions ||Transfers from a Statement Savings account to another account or to third parties by pre-authorized, automatic, or telephone transfers are limited to six (6) per cycle with none by check, draft, debit card or similar order to third parties. ||Transfers from a Money Market Account to another account, or to third parties by pre-authorized, automatic or telephone transfers are limited to six (6) per calendar month. || N/A |
|Additional Features || |
No account fees for children 12 and under.
No account fees for students 23 and under.
| || |
|*The interest rate and annual percentage yield on this account may change at any time based on the bank's discretion. |
**The average collected daily balance is calculated by adding the collected balance in the account for each day of the period and dividing that figure by the number of days in the period.Â The period we use is the monthly statement cycle.