Statement Savings Accounts

  • Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on your account. We may change the interest rate on your account every quarter.
  • Withdrawals made by checks, ACH or similar order payable to third parties prohibited.
  • This is a limited transaction account. Telephone transfer and internet banking requests are limited to six (6) per statement cycle. If there is excessive abuse of the limited transactions, River City Bank has the right to refuse the transfer, or to close the account. Excessive may be defined as more than three abuses in twelve months.
  • Interest begins to accrue on the business day you deposit non-cash items (for example, checks)
  • Interest will be compounded quarterly and credited to your account on the last business day of each quarter. If you close your account before interest is credited, you will not receive the accrued interest.
  • We use the average daily balance method to calculate interest on your account. This method applies a periodic rate to the average daily balance in the account for the period.  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.
  • $5.00 minimum to open.
  • A $5.00 service charge will be assessed the last business day of each month the balance drops below $200, any day of the month.
  • One free withdrawal per month. Each additional withdrawal is $4.00 per withdrawal.
  • Youth Savings Accounts are available to persons under the age of 18 or held for persons under the age of 18 by an adult. Monthly service charges are waived on Youth Savings Accounts.
  • Student Savings Accounts are available to full-time students age 25 and under. The person responsible for this account must provide proof of student status. Monthly service charges are waived on Student Savings Accounts.
  • Quarterly statements.
  • Free On-line Banking.
  • Free Telephone Banking.
  • See Other Services and Fee Schedule.
 
 
Last updated on Aug 23, 2013

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