Savings and Retirement Account Comparison Chart:West Virginia |
|
| Account Characteristics | Regular Savings | Tiered Money Market Savings |
Certificates of Deposit (CDs) | Individual Retirement Accounts (IRAs) | |
| Interest Rate Tiers | 1 |
6 ($0/$1k/$10k/ |
3 (Minimum to open/$10k/$50k) |
3 ($1/$10k/$50k) |
|
| Minimum Opening Deposit | $100 |
$500 |
Quest and Callable = $5,000 |
$100 |
|
| Balance Requirements to Avoid Monthly Maintenance Fee | $300 minimum balance |
$1,000 minimum daily collected balance |
N/A |
N/A |
|
| Balance Requirements to Avoid Withdrawal and Transfer Fees | $2,500 minimum balance |
N/A |
N/A |
N/A |
|
| Available Terms | N/A |
N/A |
7 days to 60 months |
6 to 60 months |
|
| Additional Deposits | Yes—Allowed |
Yes—Allowed |
Allowed—6 months only ($50 minimum) |
Allowed to all (Minimum: Roth=$100/All others = $25) |
|
| Fees: | |||||
| Monthly Maintenance Fee | $5.00 |
$10.00 w/check safekeeping |
N/A |
N/A |
|
| Withdrawal/Transfer Fee | >2 = $3.00 per withdrawal or transfer |
None |
N/A |
$50 account transfer fee to another financial institution |
|
| PIN-Based Transaction Fee | N/A |
$.30 |
N/A |
N/A |
|
| Excess Item Fee | $10.00 |
$10.00 |
N/A |
N/A |
|
| Early Withdrawal Penalties: | |||||
| 7 Days Through 90 Days: | N/A |
N/A |
Full CD Term |
3 months' simple interest |
|
| 91 Days Through 1 Year: | N/A |
N/A |
3 months |
3 months' simple interest |
|
| Over 1 Year: | N/A |
N/A |
6 months |
3 months' simple interest |
|