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Savings

If you'd like help finding a savings account or fund that's right for you, contact us today!  If you are managing high balances or a complex financial portfolio, consider contacting the Southern Financial Group.

Statement Savings 
An account allowing you to earn interest and make deposits and withdrawals at any time, for any amount.

  • Balance to Open $100
  • Minimum Balance to Avoid Maintenance Fee $200
  • $3 Maintenance Fee If Below Minimum
  • $5 Charge Per Withdrawal After 6 Per Month
  • Maintenance Fee Waived for Accounts Held by Minors
  • Free eStatements**

Saving accounts help make your goals a reality.  Here are a few tips for growing your savings!


Certificates of Deposit 
A savings tool designed to offer a higher interest rate for those who do not need the money available for a predetermined amount of time.

  • Balance to Open $500
  • Interest Rate Fixed for Specific Term of Deposit
  • Terms of Deposit 6-60 Months
  • Interest Paid on Balance or Credited to SMB&T Accounts
  • Automatic Renewal


IRAs: Savings Account 
A retirement savings plan designed for employed individuals under 70 ½ years old who are interested in planning for a financially secure retirement.

  • Minimum of $500 to Open Fixed IRA
  • Minimum of $100 to Open Variable IRA
  • Taxes May Be Deferred on Interest Earned
  • Contributions May Be Tax Deductible Dependant on the Account Type (Consult Your Trusted Tax Advisor for Details)


Christmas Club 
A savings tool designed to provide money for holidays.

  • Balance to Open $5
  • Minimum of $5 per Payment
  • Interest Paid Annually
  • Account Balance Paid via Direct Deposit in November
  • Weekly, Biweekly or Monthly Payment Programs Available
  • Deposit Account Only 


Investment/Money Market 
A traditional, secure savings account for higher balances.

  • Balance to Open $1,000
  • Minimum Balance to Avoid Maintenance Fee $1,500
  • Maintenance Fee If Below Minimum $10
  • Interest Calculated and Credited Monthly
  • Interest Tiered Based on Account Balance
  • Monthly Statements and eStatements Available, Combined Statements Available With Multiple Accounts
  • Free Online Banking**
  • Personalized Checks Available
  • Transfers/Debits Limited to 6 per Statement Cycle* 


Health Savings Account 
Account to pay for qualified medical expenses while earning interest.

  • Balance to Open $50
  • No Minimum Balance
  • Interest Calculated Daily Based and Credited Monthly
  • Interest Tiered Based on Account Balance
  • Unlimited Withdrawals for Qualified Medical Expenses
  • Monthly Statements
  • Free Online Banking**
  • Free HSA Debit Card
  • Set-Up Fee $15
  • Personalized Checks Available

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-   Ask a New Account Representative for current interest rates.  Interest rates are subject to change.
*  Transfers from an investment savings account to another account or to third parties are limited to six per statement cycle.
** Fees from your mobile or data carrier may apply.