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Christmas Club

  • $10.00 minimum opening deposit but not more than $100
  • .30% APR; .30% APY
  • Interest is calculated on daily balances and paid the second Friday in October
  • Annual percentage yield is based on the annual crediting with no compounding interest
  • Interest is earned from day of deposit to the date the Christmas Club is closed in October
  • Accounts closed prior to maturity will not earn interest
  • Withdrawals are not permitted
  • The annual aggregate deposit cannot exceed $5,000.00 in accounts with any of the same owners
  • The initial deposit and all weekly deposits can not exceed $100.00
  • Deposits may be made weekly according to the coupon schedule set by the bank, either in person, or through our website
  • Must be opened between the third Friday in October and December 31st of each year
  • This account is non-transferable
  • One coupon book per individual (Tax Identification Number)
  • A checking/savings account is required to open/maintain a Christmas Club account
  • Accounts are paid out through direct deposit to a checking or savings account at The Bank of Glen BurnieĀ® the second Friday in October each year
  • Accounts close the first Friday in October each year