Southwind Bank
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Money Market & Savings AccountsMoney Market
Rate Information
  • Contact a bank representative for the current interest rate and annual percentage yield.
  • Rates may be changed at any time at our discretion.
Compounding and Crediting
  • Interest will be compounded and credited to your account every monthly statement cycle.
Minimum Balance Requirements
  • A deposit of $1,000.00 is required to open this account.
  • A maintenance fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $1,000.00 any day of the cycle.
  • A minimum balance of $1,000.00 is required in the account each day to obtain the disclosed annual percentage yield. 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. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction Limitations
  • Withdrawals or transfers from a Money Market account to another account or to third parties are limited to six per statement cycle. This limitation includes automatic or preauthorized transfers, telephone transfers, or internet banking transfers or payments.

VIP Money Market

Rate Information
  • Contact a bank representative for the current interest rate and annual percentage yield.
  • Rates may be changed at any time at our discretion.
Compounding and Crediting
  • Interest will be compounded and credited to your account every monthly statement cycle.
Minimum Balance Requirements
  • A deposit of $10,000.00 is required to open this account.
  • A maintenance fee of $10.00 will be imposed every statement cycle if the balance in the account falls below $1,000.00 any day of the cycle.
  • A minimum balance of $10,000.00 is required in the account each day to obtain the disclosed annual percentage yield. 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. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction Limitations
  • Withdrawals or transfers from a VIP Money Market account to another account or to third parties are limited to six per statement cycle. This limitation includes automatic or preauthorized transfers, telephone transfers, or internet banking transfers or payments.

Savings

Rate Information
  • Contact a bank representative for the current interest rate and annual percentage yield.
  • Rates may be changed at any time at our discretion.
Compounding and Crediting
  • Interest will be compounded every day and credited to your account every statement cycle. Statement cycle is quarterly unless there is an electronic transfer on the account, in which case a statement will be delivered monthly.
Minimum Balance Requirements
  • A deposit of $50.00 is required to open this account. The minimum deposit requirement is not applicable to full-time students.
  • A maintenance fee of $1.00 will be imposed every statement cycle if the balance in the account falls below $50.00 any day of the month.
  • A minimum balance of $50.00 is required in the account each day to obtain the disclosed annual percentage yield. 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. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction Limitations
  • Withdrawals or transfers from a Savings account to another account or to third parties are limited to six per month. This limitation includes automatic or preauthorized transfers, telephone transfers, or internet banking transfers or payments.
Fees
  • For each withdrawal in excess of three during a month you will be charged an excess withdrawal fee of $5.00.

Kids Club Savings


Kids Club Savings accounts are for customers under 20 years of age.

Rate Information
  • Contact a bank representative for the current interest rate and annual percentage yield.
  • Rates may be changed at any time at our discretion.
Compounding and Crediting
  • Interest will be compounded every day.
  • Interest will be credited to your account annually when statements are printed.
Minimum Balance Requirements
  • A deposit of $5.00 is required to open this account.
  • No minimum balance is required for this account.
  • A minimum balance of $5.00 is required in the account each day to obtain the disclosed annual percentage yield. 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. Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction Limitations
  • You may make twelve withdrawals from your account each calendar year.
Fees
  • For each withdrawal in excess of twelve during the calendar year you will be charged an excess withdrawal fee of $5.00.

*All accounts are subject to the bank’s “Deposit Account Terms and Conditions” and “Interest, Fees & Charges Schedule” which are subject to change. There may be additional charges and fees for services as set out in the “Deposit Account Terms and Conditions” and “Interest, Fees & Charges Schedule.”

*The fees could reduce the earnings on the account(s)

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