Savings Comparison

SAVINGS MONEY MARKET CERTIFICATE OF
DEPOSIT (CD)
Designed For 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.
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Minimum Amount
To Open
$5 $1,000 $2,500
Minimum Balance Requirements A minimum daily balance of $0.01 is required to obtain the disclosed annual percentage yield. A minimum daily balance of $0.01 is required to obtain the disclosed annual percentage yield. N/A
Interest Computation Interest payment is based on the daily balance method. This method applies a daily periodic rate to the balance in the account each day.* Interest payment is based on the daily balance method. This method applies a daily periodic rate to the balance in the account each day.* Interest payment is based on the daily balance method. This method applies a daily periodic rate to the balance in the account each day.***
Compounding and Crediting Interest will be compounded on a quarterly basis and credited to the account quarterly. Interest will be compounded on a monthly basis and credited to the account monthly.
If the term is greater than 6 months, interest will be compounded and credited to your account quarterly.
If the term is 6 months or less, interest will be compounded and credited to your account at maturity.
Monthly Maintenance Service Charges $2.50 monthly maintenance service charge is waived if a $250.00 (or greater) average daily balance** is maintained for the month $5.00 excessive withdrawal fee per transaction in excess of six (6) per statement cycle. N/A
Statements Statements are mailed quarterly, If an account has an ATM or Debit card, statements will be mailed monthly. Imaged statements are mailed monthly. N/A
Transactions Transfers from a savings account to another account or to third parties by pre-authorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order are limited to six (6) per calendar month. Transfers from a money market account to another account or to a third parties by pre-authorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order are limited to six (6) per calendar month. N/A
Additional Features

No account fees for individuals under 23 years of age.

*The interest rate and the annual percentage yield on this account may change.   At the bank’s discretion, we may change the interest rate on your account daily.
**The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.  The period we use is a monthly cycle.
***If you withdraw any principal before the maturity date, a penalty equal to 365 days of interest will be charged to your account. 
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