Savings

Safe Harbor Savings
(Passbook Account)		Statement SavingsMoney 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 BankingNoATM Use OnlyYes
FREE Telephone BankingNoYesYes
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.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.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. Combined total of 6 withdrawals per month. Excessive activity charge is $5.00 per item each month.