Personal Deposit Accounts
For almost a century, Quaint Oak Bank has been providing our customers with personal deposit accounts. It is essential that you feel confident in your finances long-term – that is why we offer deposit options to meet your financial future. Our unique relationship-based customer service, coupled with progressive banking solutions delivers our customers a trustworthy and forward-thinking banking experience.
What Are Deposit Accounts?
Deposit accounts are standard bank accounts that let you deposit or withdraw funds. They are a useful financial tool that allows individuals to securely store and grow their money. These accounts are commonly used for managing daily expenses, saving for future goals, or earning interest on deposits. The main types of deposit accounts include personal checking accounts, certificates of deposit, money market accounts, and savings accounts.
Personal Checking Accounts
A personal checking account is ideal for everyday banking needs. It allows you to deposit and withdraw funds frequently, making it convenient for bill payments, shopping, and managing routine expenses. Learn more about personal checking accounts.
Certificates of Deposit (CDs)
Certificates of deposit (CDs) offer higher interest rates compared to standard savings accounts in exchange for locking in your funds for a set period. With terms ranging from 6 months to 5 years, CDs are perfect for those who don’t need immediate access to their funds. Explore our CD options.
Savings Accounts – Investing in Your Future
It is essential that you feel confident in your finances long-term – that is why we offer a personal savings account to strengthen your financial future. A traditional and dependable source of savings, a Quaint Oak Bank savings account can ensure you peace of mind. No matter your financial goals, we want to help you find a banking solution that works for today while saving for tomorrow.
| Account Type | Interest Rate | Annual Percentage Yield |
|---|---|---|
| Classic Savings | 0.20% | 0.20% |
Certificates of Deposit – CD Accounts
Certificates of deposit are a great way to earn interest on a lump sum over a specified period of time. CD accounts differ slightly from traditional savings accounts; they are based on specific, fixed rate terms and interest rates. With account types ranging from 6 months to 5 years, a CD provides a higher rate of interest than a traditional savings account.
| Account Type | Interest Rate | Annual Percentage Yield |
|---|---|---|
| 6 Months | 4.29% | 4.45% |
| 12 Months | 4.34% | 4.50% |
| 18 Months | 4.11% | 4.25% |
| 2 Years | 3.87% | 4.00% |
| 3 Years | 3.87% | 4.00% |
| 4 Years | 3.87% | 4.00% |
| 5 Years | 3.87% | 4.00% |
Personal Money Market Account
Featuring a low minimum deposit and competitive rates, Quaint Oak’s personal money market accounts are one of our most popular account types. Our money market accounts allow our customers to earn interest on their savings, while still allowing them access to their funds. Ideal for the customer who is always on the run, transfers into and out of your account are easily made with our online banking tool, BillPay.
| Account Type | Interest Rate | Annual Percentage Yield |
|---|---|---|
| Tier 1 ($0-$999) | 1.95% | 2.00% |
| Tier 2 ($1,000 – $2,499) | 1.95% | 2.00% |
| Tier 3 ($2,500 and higher) | 1.95% | 2.00% |
Military Advantage Money Market Account
Quaint Oak wants to thank the people in our military for serving our country. Exclusively for military customers, a Military Advantage account provides select benefits for our Service Members and Veterans.
Learn more about our Military Advantage account options.
| Account Type | Interest Rate | Annual Percentage Yield |
|---|---|---|
| Tier 1 ($0-$999) | 1.95% | 2.00% |
| Tier 2 ($1,000 – $2,499) | 1.95% | 2.00% |
| Tier 3 ($2,500 and higher) | 2.00% | 2.05% |
Why Choose Quaint Oak Bank for Your Deposit Products?
Our personal checking accounts and collection of savings accounts provide customized solutions to fit your needs. We can help you select and apply for the account that meets your needs. Whether you’re looking for a reliable checking account, a high-yield savings option, or a flexible money market account, we offer a range of deposit products to help you meet your financial goals, contact us for more information.
All Rates are Effective 12/06/2024