Savings
Next| Installment Savings | Regular Savings | Money Market | VIP Money Market | Special Money Market | |
|---|---|---|---|---|---|
| Description | Savings account that allows recurring transfers in fixed amounts to cash out later3 | Basic interest bearing savings account offering with liquidity of funds | Interest bearing account featuring limited check writing | Interest bearing account featuring limited check writing, and the option to earn a higher interest when a higher balance is maintained | Interest bearing account featuring limited check writing |
| Minimum Opening Deposit | First monthly installment | $100 | $2,500 | $100,000 | $100,000 |
| Monthly Service Charge | None | $5 | $10 and $0.25 per debit transaction | $20 and $0.25 per debit transaction | $30 and $0.25 per debit transaction |
| Account Restrictions | Early withdrawal penalty: one (1) month’s interest | $10 per debit when exceeds six (6) transfers and/or withdrawals2 | $10 per debit when exceeds six (6) transfers and/or withdrawals2 | $10 per debit when exceeds six (6) transfers and/or withdrawals2 | $10 per debit when exceeds six (6) transfers and/or withdrawals2 |
| To Waive Monthly Service Charge | N/A | Maintain daily balance $500 | Maintain daily balance $2,500 or Average daily balance $5,000 |
Maintain daily balance $20,000 or Average daily balance $100,000 |
Maintain daily balance $100,000 or Average daily balance $300,000 |
| Earns Interest | Yes1 | Yes1 | Yes1 | Yes1 | Yes1 |
| Compounded | Daily | Daily | Monthly | Monthly | Monthly |
| Interest Payment Frequency | Quarterly | Quarterly | Monthly | Monthly | Monthly |
| Internet Banking with Bill Pay | Yes | Yes | Yes | Yes | Yes |
| Mobile Banking | Yes | Yes | Yes | Yes | Yes |
| Telephone Banking | Yes | Yes | Yes | Yes | Yes |
1 Interest rate and annual percentage yield may change. If account is closed before the interest is credited, accrued interest will not be paid.
2 Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited. Otherwise, no more than six (6) transfers and withdrawals or a combination of such transfers and withdrawals per calendar month or statement cycle are permitted.
3 Minimum contract amount is $1,000 and maximum contract amount is $100,000. Must make monthly installment payments; otherwise it may reduce both the interest and withdrawal amounts.
Installment Savings Rates effective as of January 1, 2017
We offer higher interest rates if you set up an automatic transfer from another account with Pacific City Bank.
For further account details, please contact or visit your nearest Pacific City Bank branch representative.
