Passbook Savings Account
There is a $250.00 minimum balance to open a Passbook Savings account. You may have no more than six (6) preauthorized transfers from this account per month.
The interest rate and annual percentage yield on the Passbook Savings account may vary. Please contact us at Liberty State Bank for the current rate. Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account at any time. There are no limitations on interest rate changes. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Interest will compound quarterly and be credited to your account at the end of every quarter. If you close your account before interest is credited, you will not receive the accrued interest.
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. If at any time your balance goes below $10.00, your account will not accrue interest for that period.
This bank reserves the right at its election to charge a dormant account fee to the account in the amount of $5.00 per quarter if there have been no deposits or withdrawals from the account for a period of three (3) years.
Additional fees, may be assessed against your account.
Please contact one of our representatives for more information.