Deposit Products

Personal Checking Accounts--Features and Benefits

Checking Plus
It’s hard to beat this great account!

  • $50 minimum opening deposit
  • No minimum balance
  • No monthly service charge/maintenance fee
  • Check images are not provided with monthly statement
  • Overdraft protection is available
  • Visa Instant Cash & Check card available

Value Checking
If you want a basic checking account and like to have images
of your checks returned to you, this is the right account for you.

  • $100 minimum opening deposit
  • $100 minimum balance
  • $5 monthly service charge/maintenance fee if your balance drops below minimum balance
  • Check images are provided with monthly statement
  • Overdraft protection is available
  • Visa Instant Cash & Check card available

NOW Checking
If you can maintain a $1,000 or higher balance in a checking account, let it earn interest with our NOW Checking Account.

  • $1,000 minimum opening deposit
  • $1,000 minimum balance
  • $8.50 monthly service charge/maintenance fee if balance drops below minimum balance
  • Check images are provided with monthly statement
  • Variable interest rate that may change at any time
  • Interest accrues daily and will be compounded and credited on a monthly basis
  • Overdraft protection is available
  • Visa Instant Cash & Check card available

HSA Checking
PrinsBank’s HSA is an interest-bearing account designed to give you more control over healthcare expenses—allowing you to save for current and future qualified medical expenses. You will need to have a qualified High Deductible Healthcare Plan to open this tax–exempt account.

  • $50 minimum opening deposit
  • No minimum balance
  • $1.25 monthly service charge/maintenance fee
  • Multi-tiered variable interest rates that may change at any time
  • Interest accrues daily and will be compounded and credited on a monthly basis
  • Interest earned on an HSA is tax-free
  • Withdrawals for qualified medical expenses are tax-exempt
  • HSA funds will not be lost if not used. Funds are rolled over from year to year
  • HSA funds will not be lost if you change employers or healthcare plans

Consult your tax advisor, employer or insurance provider regarding healthcare plan eligibility and tax advice.

To learn more about HSAs, including Frequently Asked Questions, visit the official U.S. Treasury HSA web site at http://www.treasury.gov/resource-center/faqs/Taxes/Pages/Health-Savings-Accounts.aspx.

Savings Accounts--Features and Benefits

Piggy Bank Savings
Learning to save should start at an early age. That’s why PrinsBank developed a special savings account just for kids. It’s important to teach kids the value of money and make saving fun!

  • $20 minimum opening deposit
  • Free piggy bank for children age 10 and under at account opening
  • No minimum balance
  • No monthly service charge/maintenance fee
  • Variable interest rate that may change at any time
  • Interest accrues daily and will be compounded and credited on a quarterly basis
  • Quarterly statement
  • EFT statement provided monthly
  • Parent or legal guardian required as signor on account
  • Withdrawal limits (see account disclosures)
  • Automatically transfers to our Traditional Savings at age 21

Traditional Savings

The traditional savings account with all the benefits you’ve come to expect. It’s the convenient way to save for all your future needs.

  • $100 minimum opening deposit
  • $100 minimum balance
  • $3 quarterly service charge/maintenance fee if balance drops below minimum balance
  • Variable interest rate that may change at any time
  • Interest accrues daily and will be compounded and credited on a quarterly basis
  • Quarterly statement
  • EFT statement provided monthly
  • Withdrawal limits (see account disclosures)

Money Market Savings
The tiered Money Market Account puts your money to work. The more you save, the more you earn.

  • $2,500 minimum opening deposit
  • $2,500 minimum balance
  • $15 monthly service charge/maintenance fee if balance drops below minimum balance
  • Multi-tiered variable interest rates that may change at any time
  • Interest accrues daily and will be compounded and credited on a monthly basis
  • Monthly statement
  • $500 minimum withdrawal amount
  • Withdrawal limits (see account disclosures)

Elite Business Checking

Recommended for businesses with high-volume activity and larger daily balances

  • $50 minimum opening deposit
  • $7.50 monthly service charge/maintenance fee
  • .15 fee per debit/check
  • .20 fee per credit/deposit
  • Deposited items: On us = .03; Not on us = .06
  • Earnings Credit

Success Business Checking

Recommended for businesses with low-volume activity

  • $50 minimum opening deposit
  • $5.00 monthly service charge/maintenance fee
  • 0.25 over 25 fee per debit/check
  • No charge for credits/deposits
  • Deposited items: 0.25 over 25

Certificates of Deposits
Certificates of Deposit are one of the most widely held bank investments. They are flexible, safe, FDIC insured investments that let you adapt to changing economic times without loss of your capital investment. If you are interested in a truly worry-free investment, look no further that a CD from PrinsBank.

  • Different maturity terms to meet your future needs
  • $1,000 minimum opening deposit on all terms
  • Penalty for early withdrawal
  • Interest rate is fixed and will not change during the term of your account
  • Interest will accrue daily and be compounded and credited to your account per disclosure (monthly, quarterly, semi-annually, etc).
  • You may elect to have your interest credited to another deposit account at PrinsBank or paid by check.

Individual Retirement Accounts
An IRA is an excellent tool for retirement savings. Unlike most investments, depending on the type of IRA you choose, contributions may be tax deductible and will grow either tax-deferred or tax-free.

A Coverdell Education Savings Account (ESA) is a great way for parents, grandparents and others to help meet the rising costs of a student’s education.

PrinsBank offers several different plan types.

  • Traditional IRA
  • Roth IRA
  • Education Savings Account (formally Education IRA)

IRA’s are still one of the easiest and simplest ways to save for your retirement.
Contact a representative to see which plan is right for you.