Personal Savings

Personalized Savings Accounts That Meet Your Needs.

Life presents a whole host of challenges, among them efficiently managing your time and money. BankCherokee works with you to adapt to the changing times, circumstances, and new opportunities that are part of our lives. That’s why we offer a variety of personal checking & savings accounts.

Personal Savings Comparison Chart (pdf)

Youth Savings

A flexible insured savings account with a low minimum balance designed to teach young people how to save.

  • Minimum Balance /Requirements
    $25 daily ledger balance++
  • Monthly Maintenance Charge
    None, or $2 per month if balance falls below minimum
  • ATM Fees+++ And Access
    Not available
  • Check Access
    Not available
  • Activity Charges
    No charge for in-person withdrawals+

Statement Savings

Flexible insured savings account with a low minimum balance, variable interest rate, and easy cash access.

  • Minimum Balance / Requirements
    $200 daily ledger balance
  • Monthly Maintenance Charge
    None, or $2 per month if balance falls below minimum
  • ATM Fees+++ And Access
    ATM card available with checking relationship. $1 per ATM Savings Account withdrawal.
  • Check Access
    Not available
  • Activity Charges
    No charge for in-person withdrawals+

Money Market Account

Competitive rate savings with complete liquidity and insured security. Variable interest on your entire balance.

  • Minimum Balance / Requirements
    $500 daily ledger balance
  • Monthly Maintenance Charge
    None, or $5 per month if balance falls below minimum
  • ATM Fees+++ And Access
    Free on all ATMs
  • Check Access
    Optional
  • Activity Charges
    No charge for in-person withdrawals+

Money Market Investment Account

Highest yielding savings with liquidity, insured security, and easy access. Variable interest on your entire balance.

  • Minimum Balance / Requirements
    $2,500 daily ledger balance
  • Monthly Maintenance Charge
    None, or $15 per month if balance falls below minimum
  • ATM Fees+++ And Access
    Free on all ATMs
  • Check Access
    Optional
  • Activity Charges
    No charge for in-person withdrawals+

Certificates of Deposit

A full range of FDIC insured certificates of deposit are available with a variety of yields and maturities.

  • Minimum Balance / Requirements
    $1,000
  • Monthly Maintenance Charge
    None, penalties will be imposed for early withdrawals

ICS / CDARS

With ICS and CDARS, you can enjoy the peace of mind that comes with access to multi-million-dollar FDIC insurance and can choose the service or combination of services that best meets your needs for returns and access to funds. Now that’s smart.

Health Savings Account

Set aside money tax-exempt for your medical expenses and earn interest on it.

  • Minimum Balance / Requirements
    $500 daily balance
  • Monthly Maintenance Charge
    None, or $5 per month if balance falls below minimum
  • ATM Fees+++ And Access
    Not available
  • Check Access
    Optional with HSA Check Card.

IRAs

An IRA is an excellent foundation for your retirement nest egg. The earlier you begin planning for your retirement, the more money you’ll have to fulfill your dreams. And your contributions may be tax-deductible. (Ask your tax advisor.)

BankCherokee offers Traditional, Roth, and Education IRAs with a variety of yields and maturities. Remember, you can still contribute to an IRA even if you participate in an employer or government-sponsored retirement plan, as long as you earn income.

With few exceptions, funds deposited in an IRA may not be withdrawn before retirement age without incurring penalties. Contact us today and we will work with you to find the best IRA to fit your needs.

Savings Account Disclosures

+ Federal regulations limit transfers to another account or to third parties by preauthorized, automatic, check, or telephone transfers to six per month. There is a $10 excessive transaction fee for every transaction exceeding the 6 allowed during the monthly statement period.

++ Account will revert to Statement Savings Account at age 18.

+++ Some ATM machines may impose an additional ATM transaction fee unrelated to our accounts. This charge will be assessed on your account

Ready to Open a Savings Account?

Together, we’ll open an account that's just right for you.

Contact Us