Savings

 
Safe Harbor Savings
(Passbook Account)
Statement Savings
Open an Account
Money Market Accounts
What you are looking for:A Savings Account that puts your money to work with a rewarding interest rate that grows with your account.A Savings Account built to ensure positive savings growth; no matter how modest your starting balance may be.Severn Savings Bank money market accounts earn interest through our four-tiered rate structure, so as your balance increases, so do your earnings.
Minimum Opening Deposit$100$20$20
Monthly Service Charge$5.00$3.00$5.00
Minimum Balance Required$2,500 to avoid service charge$20 to avoid service charge and $200 to earn interest$2,500 to avoid service charge
FREE ATM WithdrawalsNoYes at any Severn Savings ATM or 43,000 ALLPOINT™ Network ATM's worldwideYes at any Severn Savings ATM or 43,000 ALLPOINT™ Network ATM's worldwide
FREE Online BankingYes - ability to view account balances, no transactions can be processed.YesYes
FREE Telephone BankingYes - ability to check account balances, no transactions can be processed.YesYes
Interest Bearing AccountYes, click here for Rate detailsYes, click here for Rate detailsYes, click here for Rate details
Legalese:Requires maintaining an average monthly balance of $2500 to avoid a $5 monthly service charge. Interest is compounded daily and credited at the end of each month. No minimum balance requirement for individuals under age 21. Federal Banking Regulations restrict you to a combination of six (6) of the following types of transactions per statement cycle: checks, debit cards, or similar orders made payable to third parties, telephone transfers, online banking transfers, pre-authorized debits and transfers to another account with us. Over the counter withdrawals are unlimited. A $5 fee will be assessed for each item over these limits. Certain transaction limits may apply. Requires an average monthly balance of $20 to avoid a $3 monthly services charge. Requires an average monthly balance of $200 to earn interest. Interest is compounded daily and credited at the end of each month. No minimum balance requirement for individuals under age 21. Federal Banking Regulations restrict you to a combination of six (6) of the following types of transactions per statement cycle: checks, debit cards, or similar orders made payable to third parties, telephone transfers, online banking transfers, pre-authorized debits and transfers to another account with us. Over the counter withdrawals are unlimited. A $5 fee will be assessed for each item over these limits. Certain transaction limits may apply. Requires an average monthly balance of $2500 to avoid a $5 monthly services charge. Interest is compounded daily and credited at the end of each month. Federal Banking Regulations restrict you to a combination of six (6) of the following types of transactions per statement cycle: checks, debit cards, or similar orders made payable to third parties, telephone transfers, online banking transfers, pre-authorized debits and transfers to another account with us. Over the counter withdrawals are unlimited. A $5 fee will be assessed for each item over these limits. Certain transaction limits may apply.