Ravenswood Bank offers a wide variety of options to meet your savings needs. Our options have varying degrees of liquidity, so ask your Relationship Banker which option best suits your needs.
Similar to the Money Market and NOW Accounts, interest is accrued daily, however it is paid quarterly. We use the daily balance method to calculate the interest on your account. This particular method applies a daily periodic rate to the principal in the account each day. At our discretion, we may change the interest rate on your account daily.
| Statement Savings | Classic Passbook Savings | Minor Statement Savings | Passbook Savings | |
| Opening Deposit | $100 | $1,000 | $10 | $1,000 |
| Min. Daily Balance* | $200 | $1,000 | $10 | $300 |
| Min. to Maintain Account | $10 | $10 | — | $10 |
| Fee if Min. Balance not met** | $5 | $5 | — | $5 |
| Fee per excessive transaction** | $3 | $3 | — | $3 |
* Minimum balance or minimum opening deposit, where applicable.
** Fees could reduce earnings, where applicable.
Please see a Personal Banker for further details.