A Kentucky Bank Basic Savings Account is a great way to start a savings program.
Basic Savings Details
- Interest is earned on average daily balance. It is compounded daily and paid monthly.
- ATM access
- $50 minimum deposit to open account
- Quarterly statement*
- Fees are based on the balance for the calendar month
- If daily balance falls below $100, you will be charged a $2 monthly service charge**
- You may make up to 8 withdrawals per month at no charge. Excess withdrawals over 8 will be performed at a charge of $10.00 each. Not included in the eight (8) withdrawals are safe deposit box payments, loan payments, check protection transfers, wire transfers, and ATM withdrawals.
- Variable interest rate
Transaction Limitations: No more than six preauthorized withdrawals, automatic or telephone transfers, checks, drafts or debit card or similar transactions per monthly statement cycle.
*Monthly statement only applies when there are automatic transfers, ATM transactions or if customer receives a combined account statement.
**Service charge will be waived for the first month the account is opened. After account has been open for a month and daily balance falls below $100, the $2 service charge will apply.