Savings
Having a savings plan with regular recurring deposits is one of the surest paths to financial independence and peace of mind. Middleburg Bank has several savings plans to help with your financial strategies. All funds are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum amount allowed by law.
Savings accounts:
Statement Savings
Earn a competitive interest rate compounded quarterly and make withdrawals at any time at no charge, up to nine transactions per quarter. If nine transactions are exceeded, a charge per transaction over the initial nine will be assessed. A service charge will also be imposed if the average balance for the quarter falls below $200. Senior citizens, minors and students are exempt from minimum balance charges. For added convenience, if you have a Visa® Check Card for your checking account, you can also access your savings account.
Hunt Club Savings
Currently Paying 1.40% APY*
This special savings account is offered exclusively to Hunt Club Checking clients and provides a high-yield and the convenience of liquidity. A minimum daily balance of $5,000 is required to earn the special rate. Interest is compounded quarterly and a combined statement is issued for Hunt Club Checking and Hunt Club Savings. Up to nine withdrawals per quarter are allowed at no charge. If nine transactions are exceeded, a charge per transaction over the initial nine is assessed. A quarterly service charge is also imposed if the minimum daily balance falls below $5,000 within the statement quarter. Other restrictions apply. Please call our Client Service Center for further details. (contact us)
*Annual Percentage Yield is 1.40% as of October 1, 2009. Rate is variable and subject to change. Fees could reduce the earnings on this account.
Cool Fox Savings For Kids
Teach the benefits of good savings habits to children in a fun, cool way! Interest is compounded quarterly and there are no service fees if the age of the child is under 18. This account awards special prizes for specific savings levels reached. (read more)
Club Accounts
Save for vacations, holiday purchases or any major purpose. A coupon book is used to promote regular weekly savings increments. Interest is accrued on the ledger balance and paid at maturity of the club plan. No interest is paid if the account is closed prior to maturity. Withdrawals before maturity are not permitted. Automatic payments from another Middleburg Bank account are recommended for convenience. Upon maturity, a check for the account balance plus interest is mailed to the accountholder.
Money Market
This account combines the benefit of a high-yield savings account with the convenience and liquidity of a checking account. Interest is earned on average monthly balances of $2,500 or more and no activity service charges are assessed if the balance is $2,500 or more. If the balance falls below this level, a monthly activity service charge will apply and no interest will accrue. Statements are issued monthly.
This account is limited to three third party checks per months. The combined total of transactions made during a month cannot exceed six, and no more than three of these six can be by check. If this transaction limit is exceed, a per item charge will be imposed. Unlimited transactions are allowed within a branch office or an ATM. Funds are FDIC insured up to the maximum amount allowed by law.
