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With our award-winning Online and Mobile Banking experience, it's easy to manage your finances wherever and whenever you want. Get instant access and manage your new Savings account right from the palm of your hand.
The monthly maintenance fee is waived for the first 61 days after account opening and thereafter if the daily account balance of $200 is maintained. Account owners under the age of 18 pay no monthly fees at all. Otherwise, the monthly fee is only $4.
<h3>The more you save, the more you can earn.</h3>
Interest is compounded and paid monthly on collected balances.
<h3>Fast and easy account opening. </h3>
Open your account online in minutes. The minimum opening deposit is just $25.
<h3>Flexible access to your funds. </h3>
Make four free withdrawals each statement month. Each additional withdrawal is just $2.
A savings account is a type of bank account that allows you to deposit money, keep it safe and withdraw funds, all while earning interest on your balance.
To open a Broadway Bank savings account, you will need to provide identification (such as a driver’s license or passport), proof of address and your Social Security number. You can open an account online or by visiting a local financial center.
•Interest Earnings: Your money earns interest over time.
•Safety: Savings accounts are insured by the FDIC up to $250,000, providing security for your funds.
•Accessibility: Funds can be accessed when needed, though there are withdrawal limits.
Interest is calculated on a daily basis and paid monthly. The annual percentage yield (APY) gives you an idea of how much interest you will earn over a year.
The savings account has a $4 monthly maintenance fee, which is waived for the first 61 days. The fee is also waived if you maintain a daily balance of $200. Account holders under 18 years old do not pay any monthly fees.
The minimum opening deposit is $25.
You can make four free withdrawals each statement month. Additional withdrawals incur a $2 fee each.
Yes, you can use an ATM with a savings account.
Yes, you can set up automatic transfers from your checking account to your savings account. This can help you save regularly.
Yes, Broadway Bank offers Online and Mobile Banking, allowing you to manage your savings account, check balances, transfer funds and more.
To earn more interest, consider higher-yield savings accounts, money market accounts, or certificates of deposit (CDs), which may offer better rates than standard savings accounts.
The interest earned on savings accounts is considered taxable income. You will receive a 1099-INT form from Broadway Bank if your interest earnings exceed a certain amount, which you must report on your tax return.
Yes, Broadway Bank offers joint savings accounts that can be opened by two or more individuals, allowing all account holders access to the funds.
Yes, you can link your Broadway Bank savings account to other accounts, such as your checking account, for easy transfers and overdraft protection.
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