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Watch your savings grow in a Silver Lake Bank Certificate of Deposit, Individual Retirement Account (IRA), Passbook Savings, Sterling Money Market or Sterling Money Market Advantage Account.
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Specially designed package of banking privileges and discounts for customers wanting to obtain higher yields on their funds while not sacrificing the safety of the funds. |
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$1,000 will open the account |
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Monthly Balance Service Fee |
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ACB* of $2,000 or more — no monthly fee
ACB* less than $2,000 — $3 monthly fee |
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Subject to regulatory withdrawal limitations.**A $2.00 excess debit service fee will be assessed for each additional withdrawal item. |
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Interest compounded and credited on each monthly statement date. |
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1/2% discount on consumer (non-residential) loans
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No charge for ATM transactions |
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No fee on money orders, cashiers checks or travelers checks |
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10% discount on annual safe deposit box rental |
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Free Sterling Checks |
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No fee for incoming wire transfers |
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In addition to the Sterling Money Market Account features and benefits listed above, customers meeting relationship balance requirements will enjoy Sterling Money Market Advantage by receiving tiered premium rates of interest on Sterling Money Market Account balances. |
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Balance requirements consist of combined deposit and/or loan balances of $25,000 or greater.*** |
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A Silver Lake Bank checking account must be maintained with a minimum of two transactions per month, deposits or withdrawals. |
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Subject to regulatory withdrawal limitations. ** A $2.00 excess debit service fee will be assessed for each additional withdrawal item. |
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Interest compounded and credited on each monthly statement date. |
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$50 will open account |
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No semi-annual balance service fee ("fee") if an ACB* of $200 or more is maintained. If ACB* falls below $200, a $12 semi-annual balance service fee will apply ($2 each month ACB* less than $200). |
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Accounts with electronic activity will receive a monthly statement. No charge if an ACB* of $200 is maintained; otherwise, a $2 monthly balance service fee will be assessed. |
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Subject to regulatory withdrawal limitations.** Three withdrawals monthly at no charge; $1 excess debit service fee for each additional withdrawal on all passbook savings. |
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Interest compounded and credited semi-annually on statement dates - May 31 and November 30. |
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Accounts for children under 18 can be opened with any amount and will not receive the balance service fee. |
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$500 will open account |
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Variety of terms available to accommodate your needs |
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Interest compounds quarterly on maturities of twelve months or longer |
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Interest payment options available |
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Automatically renewable for your convenience |
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Variable rate CD's allow additional deposits of $100 or more. Available only to active checking account holders. |
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$500 will open account |
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Variety of terms and types available to accommodate your needs |
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Interest compounds quarterly on maturities of twelve months or longer |
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Automatically renewable for your convenience |
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No administrative fees to open or maintain |
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Variable rate IRA's may be opened with $100 minimum balance. Additional deposits of $25 or more may be made at your convenience. |
Health Savings Accounts are used to pay the health care costs of participants enrolled in a high deductible health plan specifically approved for use with HSA's. Your insurance provider can tell you if your policy qualifies you for a Health Savings Account. The money deposited, as well as the interest earned, is tax-deferred. Use HSA funds to pay for qualified medical expenses tax-free. |
Silver Lake Bank has the following types of Health Savings Accounts options; checking account, money market investment account and certificate of deposit.
The minimum opening deposit for the checking or money market investment account is $100. The certificate of deposit requires $500. A low one time set-up fee of $15 for your first HSA is assessed at account opening. |
HSA Checking. Pay your health care expenses with a variety of payment options such as check writing, VISA ® Check card and bill pay. The features of this account are listed below.
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Monthly balance service fee is $2. When your monthly average collected balance is $2,500 or greater, your fee is $0. |
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Earn interest by receiving tiered premium rates on your collected balance. Interest compounds monthly. |
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1st set of 50 checks are free. |
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Unlimited check writing. |
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Monthly bank statements with check images provided. |
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Optional eStatement available. |
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Free VISA® Check Card. |
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Free Silver Express Internet Banking allows online access to your account and free Bill Payment.**** |
HSA Money Market Investment Account. Ideal for the eligible HSA participant who desires an interest rate higher than what is paid on the HSA
checking account. Funds can be parked in this account until medical expenses are incurred, then transferred by you to the HSA checking account for proper documentation of HSA
distributions for tax reporting purposes. The features of this account are listed below.
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No monthly balance service fee. |
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Earns interest by receiving competitive tiered money market rates on your collected balance. Interest compounds monthly. |
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Monthly bank statements with check images provided. Optional eStatement available. |
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Free Silver Express Internet Banking allows online access to your account with the ability to transfer to your HSA checking for payment of medical expenses. |
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Subject to regulatory withdrawals limitations.** Up to 6 withdrawals per month free, additional withdrawals $3 each. |
HSA Certificate of Deposit. An option for savers accumulating HSA funds and paying medical expenses out of pocket. Certificates of Deposit offer fixed or variable rates of interest.
Early withdrawal penalties apply.
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Variety of terms available to accommodate your needs. |
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Interest compounds quarterly on maturities of twelve months or longer. |
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Automatically renewable for your convenience. |
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*ACB= Average Collected Balance |
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**Unlimited access to account when made in person or through ATM withdrawals. Six preauthorized/automatic funds transfers are allowed per month. Three of the six may be by check. No checks can be written on passbook savings. ATM card and checks are not available on HSA Money Market Investment Account. |
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***To determine balance eligibility, total average collected deposit and current loan balances from prior month end will be used. |
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****Bill Payment = Silver Express Online Bill Payment is available free to consumer customers who pay two (2) or more bills per calendar month. Consumers paying less than two (2) bills per month will be assessed a $5 monthly service charge. |
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