Home > Personal Saving Accounts

Personal Saving Accounts

Print

Whether it’s for your child’s college funds, retirement, or a dream car, we have the right saving account for you. The Bank of Glen Burnie (BofGB) is here to give you the best personalized customer service you deserve with big bank savings options. Become a BofGB Customer today:

 

Invest In Your Life

Personal Saving Account Options

Money Market | Statement Savings | Holiday Club | Youth Savings
Certificates of Deposit | Individual Retirement Account (IRA) | Interest Rates

Money Market

Open Account

  • $2,500 minimum opening deposit
  • Interest calculated daily and credited monthly
  • No monthly maintenance fee unless daily balance falls below $2,500; then only $7
  • Checks, debit card transactions and transfers from a Money Market account to another account or to third parties by preauthorization, automatic, telephone, or computer transfer are limited to six (6) per statement cycle
  • An activity fee of $15 will be charged for each debit transaction in excess of six (6) during a statement cycle
  • Monthly statements
Statement Savings

Open Account

  • $100 minimum opening deposit
  • No monthly maintenance fee unless daily balance falls below $100; then only $3
  • Checks, debit card transactions and transfers from a Statement Savings account to another account or to third parties by preauthorization, automatic, telephone, or computer transfer are limited to six (6) per statement cycle
  • An activity fee of $10 will be charged for each debit transaction in excess of six (6) during a statement cycle
  • Interest calculated daily and credited monthly
  • Monthly statements
Holiday Club

Open Account

(NOTE: Must be opened between the third Friday in October and December 31st of each year)

  • $10 minimum opening deposit but no more than $100
  • 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 Holiday Club is closed in October
  • Accounts closed prior to maturity will not earn interest
  • Withdrawals are not permitted
  • The aggregate amount that any individual (Tax Identification Number) may deposit annually in a Holiday Club Account is $5,000
  • The initial deposit and all weekly deposits cannot exceed $100
  • 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 Holiday Club account
  • Accounts close in October. The last deposit is accepted by the close of business on the first Friday in October.
  • Accounts are paid out through direct deposit to a Bank of Glen Burnie checking or savings account during the second week in October
Youth Savings

Open Account

  • $50 minimum opening deposit and adult co-signer required
  • Withdrawals limited to six (6) per month; $3 activity charge for each additional withdrawal
  • Interest calculated daily and credited monthly
  • Pre-authorized, automatic, telephone or internet transactions are not permitted
  • No monthly maintenance fee unless daily balance falls below $50; then only $1
  • Automatically converts to a Statement Savings Account when the Youth Account holder reaches 18 years of age
  • Statements issued quarterly
 

Certificates of Deposit (CDs)

Open Account

  • $500 initial deposit with the exception of the 13 month and 15 month which require $2,500, 25 month which requires $5,000 and 30 month special which requires $10,000
  • Interest rate is fixed for the entire term of the certificate with the exception of all Bump-Up Certificate terms which are variable
  • Interest is calculated daily and credited monthly
  • Interest compounded in the account
  • Certificates automatically renew at current interest rate if not redeemed at maturity
  • Substantial penalty for early withdrawal (penalty does not appply to 30-day Certificates)

Complete BofGB CD details can be found here.

 

Individual Retirement Account (IRA)

Open Account

  • Traditional IRA
  • Roth IRA
  • Education IRA

BofGB IRA options can be found here.

Interest Rates

All interest rates are set by The Bank of Glen Burnie® and are subject to change at any time based on market conditions.

Important Information: Fraud Protection | New Account Opening Information

Back to top