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Non-Interest Bearing Checking Accounts
Express Checking:
$100 minimum to open account
Monthly service charge: $4
Minimum balance to avoid service charge: $400
Monthly statement provided without images
(customers are encouraged to purchase duplicate checks)
FREE Cleveland State Bank Debit or ATM Card
Maximum 10 debits a month
$.20 per debit over 10
Freedom Checking:
$100 minimum to open account
No monthly service charge
Unlimited check writing
FREE Cleveland State Bank Statement Binder
FREE Cleveland State Bank Debit or ATM Card
FREE internet banking access - see Internet Banking for transaction charges
Statement via internet - required
No account or transaction fees; however, CSB customary ATM/Debit Card,
internet banking, and other miscellaneous fees apply
Bill pay feature:
Totally FREE for 3 months - then
10 free transactions a month
$.50 a transaction over 10.
Star Checking:
$100 minimum to open account
Monthly service charge: $6
Unlimited check writing
Minimum balance to avoid service charge: $600
If balance falls below $200, there will be a $.20 charge per debit in addition to the $6 service charge
Monthly statement provided with images
FREE Cleveland State Bank Statement Binder
FREE Cleveland State Bank Debit or ATM Card
FREE internet banking access
Bill pay feature:
Totally FREE for 3 months - then
10 free transactions a month
$.50 a transaction over 10.
Business Account:
Service Charge: $2 maintenance fee plus $.20 per Debit, less a $.20 Credit per $100 of average balance.
Interest Bearing Checking Accounts*
Now Account:
Pays a variable interest rate to be determined by the bank and is subject to change with market conditions. The number of withdrawals are not limited on this account. The minimum balance required is $1500, and the interest is compounded monthly. (Not available for Corporations.)
Super Now Account:
Pays a variable interest rate to be determined by the bank and is subject to change with market conditions. The number of withdrawals are not limited on this account. The minimum balance required is $2500, and the interest is compounded monthly. If on any day during a month the posted balance on this account falls below $2500, the interest rate will change to the rate on the regular NOW account for that month. (Not available for Corporations.)
Money Market Account:
Pays a variable interest rate to be determined by the bank and is subject to change with market conditions. The number of withdrawals on the account is limited to six per month and cannot exceed three in-house and three third party withdrawals. The minimum balance required is $2500, and the interest is compounded monthly.
* Comment
The interest on all interest bearing accounts is accrued daily and compounded on the statement date. If the posted balance should fall below the required minimum balance, then interest will not be accrued for that day or days.
Service charge on interest bearing accounts
The service charge is the same on all interest bearing accounts. If the posted balance should fall below $500, then a service charge of $6 will be charged for that month.
FREE Internet Banking.
Savings Accounts
Regular Savings:
This savings plan may be opened with a minimum of $100.00. Interest is paid and a statement is mailed semi-annually. Withdrawals are limited to 12 in a six-month period, with each additional withdrawal incurring a $1.00 service charge. If the balance of the account falls to $100.00 or below, in a six-month period, a $5.00 service charge will be assessed for that statement period.
Golden Savings:
This savings plan may be opened with a minimum of $100.00. Interest is paid and a statement is mailed quarterly. Withdrawals are limited to three per quarter, with each additional withdrawal incurring a $1.00 service charge. If the balance of the account falls to $100.00 or below, in a three-month period, a $5.00 service charge will be assessed for that statement period.
Silver Savings:
This savings plan may be opened with a minimum of $500.00. Interest is paid daily, compounded quarterly, and a statement is mailed quarterly. Withdrawals are limited to 12 per quarter with each additional withdrawal incurring a $1.00 service charge. A minimum balance of $500.00 is required to earn interest. If the balance of the account falls to $100.00 or below, in a three-month period, a $5.00 service charge will be assessed for that statement period.
Certificate of Deposits
A Cleveland State Bank Certificate of Deposit (CD) is a savings and investment plan that yeilds a high, fixed rate of interest. It offers great flexibility, because you choose both the amount to be deposited and the maturity date. You can open a CD with a minimum deposit of $1,000.00. You can pick a maturity date from 30 days to 3 years. There is no charge for the purchase of a CD. Certificates of Deposit may be automatically renewed for your convenience. All CDs must be renewed or redeemed within 10 days from the maturity date. Interest can be paid by check or can be deposited into your checking or savings account. Interest may be compounded in certain circumstances.
*There is a substantial penalty for early withdrawal.*
Individual Retirement Accounts
Traditional or Roth Individual Retirement Accounts (IRAs) represent valuable retirement plans for many individuals. All wage earners are still eligible to open an IRA whether or not they are covered by a company pension plan. The tax deductibility of the contribution depends on the Adjusted Gross Income of the participant. Penalty free withdrawals may begin as early as age 59 1/2 on both Traditional and Roth IRAs or earlier under certain circumstances. We suggest you discuss your situation with a tax consultant before participating in an IRA.
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