Savings Options

Savings Options

A smart savings plan today adds up to a financially healthy tomorrow.
Put your money to work, start earning interest, and watch your money grow.  Call for today’s current rates (601) 264-1467.
• Competitive interest rates.
• Access to free Online Banking and Mobile Banking tools.
• Easy and convenient deposits through our ATMs.

Simple Savings
Perfect savings account for all ages.
• $25 minimum deposit to open.
• Interest is paid monthly on this account.
• Statement mailed monthly or choose eStatements.
• 3 withdrawals allowed per month. $2.00 charge for each additional withdrawal.
• Free ATM card with account, online banking and mobile banking. (ages 19 and over)
• Monthly fee of $1.00 will be charged if the balance drops below $25 any day of the statement period, regardless of the average balance.

Save Up CD (6 month)
Earn a high CD rate with the flexibility of adding deposits.
• Only $500 to open.
• Unlimited deposits allowed.
• Minimum average daily balance of $500 required to obtain the disclosed annual percentage yield. Interest begins to accrue on the business day you deposit noncash items.
• Interest is paid at maturity.
• Withdrawals from this account are not allowed without penalty until the maturity date.
• If you choose to close the certificate prior to the maturity date, a penalty will be imposed.
• One (1) month of interest will be charged as penalty for any certificate with a term of 32 days to and including one year, whether earned or not.
• You have ten (10) calendar days from the maturity date to withdraw funds without penalty.
• Automatically renews at maturity at the interest rate being paid by the Bank on the renewal date.

Premier Money Market
This account is ideal for customers with larger balances who want to earn a higher interest rate and make no more than six debit transactions each month.
• $7,500 minimum deposit to open.
• Must maintain $7,500 balance to earn higher interest rate.
• Interest paid monthly.
• Unlimited free checks.
• Free Online Banking and Mobile Banking tools.
• A balance of less than $7,500 drops to the same interest rate as Simple Savings.
• By law, six (6) third-party withdrawals or transfers or checks are allowed within a statement cycle. There are no limits on the number of withdrawals made in person or by mail. A fee of $2.00 per item will be charged for excess withdrawals over the allowed limits.

Certificates of Deposit
• $1,000 minimum deposit to open.
• You must maintain a minimum average daily balance of $1,000 to obtain the disclosed annual percentage yield. Interest begins to accrue on the business day you deposit noncash items.
• For certificates with a term of one year or less, interest is paid at maturity. For certificates over one year, interest is paid annually and again at maturity. You may however, choose a transfer of interest into a Grand Bank savings or checking account or receive a check monthly, quarterly, semiannually, or annually.
• After the account is opened, you may not make deposits into or withdrawals of principal from this account without penalty until the maturity date.
• If you choose to close the certificate prior to the maturity date, a penalty will be imposed. One (1) month of interest will be charged as penalty for any certificate with a term of 32 days to and including one year, whether earned or not. For a certificate with a term greater than one year, the penalty is three (3) months interest, whether earned or not, regardless of the length of time the funds withdrawn have remained in the account.
• You will have ten (10) calendar days from the maturity date to withdraw funds without penalty.
• The account will automatically renew at maturity at the interest rate being paid by the Bank on the maturity date.
• Interest rates for Certificates of Deposit of $100,000 and more are quoted on an individual basis.

Individual Retirement Account (IRA)
It is like a Certificate of Deposit, so you have great flexibility while earning a competitive interest rate.
• $1,000 minimum deposit to open.
• No withdrawals can be made.
• The account will automatically renew at maturity at the interest rate being paid by the Bank on the renewal date.
• You will have ten (10) calendar days from the maturity date to withdraw funds without penalty.

Investments to Protect Your Larger Deposits
With the Insured Cash Sweep®, or ICS®, service and the CDARS® service, you can enjoy the peace of mind that comes with access to multi-million-dollar FDIC insurance and can choose the service or combination of services that best meets your needs for returns and access to funds.

Enjoy Peace of Mind
Rest assured knowing that your funds are eligible for multi-million-dollar FDIC insurance protection that’s backed by the full faith and credit of the federal government. No one has ever lost a penny of an FDIC-insured deposit.

Earn Interest – One Rate
Ask us about the returns you can earn. Enjoy the conveniences of banking directly with us and of earning one interest rate per service for funds placed into money market deposit accounts through ICS or into CDs through CDARS.

Access Funds
With ICS, enjoy up to six program withdrawals per month. With CDARS, select from a range of maturities (4 weeks, 13 weeks, 26 weeks, 52 weeks, 2 years, 3 years, and 5 years).*

Save Time - One Relationship – One Statement
Work directly with just us—a bank you know and trust—to access multi-million-dollar FDIC insurance, and forgo the need to use repo sweeps or to track collateral on an ongoing basis.

How Does ICS and CDARS Work?
Institutions, like ours, that offer ICS and CDARS are members of a special Network. When we place your deposit through the ICS or CDARS service that deposit is divided into amounts under the standard FDIC insurance maximum of $250,000. The amounts are then placed in money market deposit accounts (using ICS) or CDs (using CDARS) at multiple banks. As a result, you can access coverage from many institutions while working directly with just one. You receive one monthly statement from our bank for each service in which you participate. As always, your confidential information is protected.

For more information and current rates call us at (601) 264-1467.

*One interest rate per CD maturity when using CDARS.

Placement of funds through the ICS or CDARS service is subject to the terms, conditions, and disclosures in the service agreements, including the Deposit Placement Agreement (“DPA”). Limits apply and customer eligibility criteria may apply. In the ICS savings option, program withdrawals are limited to six per month. Although funds are placed at destination banks in amounts that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”), a depositor’s balances at the relationship institution that places the funds may exceed the SMDIA (e.g., before ICS or CDARS settlement for a deposit or after ICS or CDARS settlement for a withdrawal) or be ineligible for FDIC insurance (if the relationship institution is not a bank). As stated in the DPA, the depositor is responsible for making any necessary arrangements to protect such balances consistent with applicable law. If the depositor is subject to restrictions on placement of its funds, the depositor is responsible for determining whether its use of ICS or CDARS satisfies those restrictions. ICS, Insured Cash Sweep, and CDARS are registered service marks of Promontory Interfinancial Network, LLC.

Financial Calculators

Use these financial calculators to help you set your financial goals. For more calculators to help you make important financial decisions, follow this link to:

Financial Calculators courtesy of the American Bankers Association*
How much can I save over time?

Use this calculator to compute the total amount you would be able to save with monthly deposits.

What savings amount should I start with?

Use this calculator to compute how much money you would need to start with to reach a savings goal.

How much do I need to fund my retirement?

Calculate how much you must have in your savings account to make recurring withdrawals of a certain amount.

How long will my retirement savings last?

Calculate how long you can make recurring withdrawals of a specified amount from your savings account.

*Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Important Information About Procedures For Opening A New Account.
To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account and each beneficial owner of an account. What this means for you: When you open a personal account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. When you open a business account, we will ask for certain business documents and identifying information of each business owner.