|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.
| || |