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Please select from the options below for more information. If you are interested in getting started please stop by your local Preferred Bank Branch or click Contact Us.
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Regular Checking
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No minimum balance required and no service charge
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ATM/Debit Card included upon approval
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Unlimited Check Writing
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Free internet banking and infoline access
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Interest Checking
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A $500.00 minimum required ($5.00 monthly service charge if below)
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Unlimited number of checks per month
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ATM/Debit Card included upon approval
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Free internet banking and infoline access
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Single interest tier paid on entire balance.
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Relationship Checking
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A $15.00 Monthly Service Charge applies unless the following are met:
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* $2,000.00 minimum balance
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* $5,000.00 total relationship balance
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Additional Benefits:
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* 0.10% bonus on CD (must compound interest)
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* 50% discount on basic in-house printed checks
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* $10.00 discount on annual safe deposit box rent
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Unlimited number of checks per month
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ATM/Debit Card included upon approval
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Free Cashier's Checks and Money Orders
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Free Internet Banking and Infoline Access
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Competitive Rates
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Smart Checking
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No Minimum Balance Required and No Service Charge
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Higher yield paid if all the following are met:
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* 10 Signature-Based Visa Check Card transactions
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* 2 Automatic Debits
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* Enrollment in eStatement Program
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For Current Yield see Current Rates
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ATM/Debit Card included upon approval
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Unlimited Check Writing
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Free Online Banking and Infoline Access
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Gold Checking
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For Customers 55+
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$300.00 minimum balance required to avoid $3.00 monthly service charge
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ATM/Debit Card Included Upon Approval
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Unlimited Check Writing
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Free Online Banking and Infoline Access
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Free Basic In-House Printed Checks
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Free Cashier's Checks and Money Orders
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$10.00 Discount on Annual Safe Deposit Box Rent
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Regular Savings
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$100.00 Minimum to Open (Waived for Minors)
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No Minimum Balance Required
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$1.00 fee for each withdrawal after the first 3.
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Money Market Demand
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$1,000.00 Minimum (If below minimum $10.00 monthly service charge applies
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Write up to 6 checks per month ($10.00 service charge if limited exceeded)
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Tier Rates (Higher Balances Earn Higher Rates)
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Certificate of Deposit (CD)
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A CD is a contract between a customer and the bank that specifies the length of time a designated amount of money will be deposited at the bank. This agreement allows the bank to pay interest rates on customers' funds.
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Competitive Rates Paid Based on Term of Deposit
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Individual Retirement Account (IRA)
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An Individual Retirement Account is a tax sheltered savings plan designed to help individuals save money for retirement. You may choose to fund your IRA with before tax or after tax dollars depending on what type of account you are qualified. Preferred Bank recommends seeking the advice of a tax professional prior to funding any type of IRA.
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Christmas Club
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If you make 49 consecutive and timely weekely deposits of the same amount to this account, we'll make the 50th for you of that same amount. (Checks issued second week of November)
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NOTICE: FDIC NOTICE OF CHANGES IN TEMPORARY FDIC INSURANCE
COVERAGE FOR TRANSACTION ACCOUNTS
All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules. The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts, and Interest on Lawyers Trust Accounts ("IOLTAs").
For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.
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