Statement Savings
- Minimum deposit of $100.00 is required at opening.
- Minimum deposit of $30.00 is required at opening for minor/non-profit organizations.
- Interest is compounded quarterly and credited to the account on the last day of the quarter.
- Interest begins to accrue on the business day you deposit any non-cash item and accumulates on the account's daily balance.
- Interest rates may change at the discretion of Chester National Bank
Click here for current interest rates on savings accounts and certificates.
Click here for more information on this account.
Christmas Club
- Minimum deposit of $10.00 required at opening.
- Interest is compounded quarterly and credited to the account on the last day of the quarter.
- The Club Year will begin November 1 and will end with the annual maturity distribution of the account no later than October 31 of each calendar year.
- This account will not automatically renew at maturity; the account balance will be distributed in full at the close of the club year, and the account will remain open for 60 days to allow account holders to deposit in the same account the following year.
- After January 1, new accounts will be issued for all Club accounts opened.
- Interest begins to accrue on the business day you deposit any non-cash item and accumulates on the account's daily balance.
- Interest rates may change at the discretion of Chester National Bank.
Click here for current interest rates on savings accounts and certificates.
Click here for more information on this account. - Withdrawal from this account is not permitted.
Money Market Accounts
- Minimum deposit of $2,500.00 is required at opening.
- Interest is compounded monthly and credited to the account on the statement cycle date.
- Interest begins to accrue on the business day you deposit any non-cash item and accumulates on the account's daily balance.
- Interest rates are tiered and may change at the discretion of Chester National Bank.
Click here for current interest rates on savings accounts and certificates.
Click here for more information on this account. - Accountholders must maintain a minimum balance of $500.00 in the account each day to avoid a minimum balance fee of $15.00.
Statement Savings Account Disclosure
Rate Information
- Interest for your account will be compounded quarterly and credited to your account on the last day of each quarter.
- Interest begins to accrue on the business day you deposit any non-cash item (for example, checks).
- Your interest rate and annual percentage yield may change at our discretion. We may change the interest rate on your account daily. Notice of rate changes will be posted in our lobbies.
Minimum Balance Requirements
- A minimum deposit of $100.00 is required to open this account.
- A minimum deposit of $30.00 is required to open this account for minors and non-profit organizations.
- You must maintain a minimum balance of $30.00 in your account every day to obtain the annual percentage yield listed.
Regulation E Transactions
We allow electronic check transactions to post to the customers Savings account.
Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Fee Schedule
- A $2.00 monthly service fee will be charged to the account if at any time during the calendar month the balance falls below $100.00. This does not apply to minors under the age of 18, non-profit organizations and voluntary associations.
- A $25.00 Early Account Closing fee will be assessed if you close your account within 90 days from the opening date.
- A $10.00 service charge will be assessed to your account on any returned third party check deposited to your account.
Christmas Club Account Disclosure
Rate Information
- The Club Year will begin November 1 and will end with the annual maturity distribution of the account no later than October 31 of each calendar year.
- Interest for your account will be compounded quarterly and credited to your account on the last day of each quarter.
- Interest begins to accrue on the business day you deposit any non-cash item (for example, checks).
- Your interest rate and annual percentage yield may change at our discretion. We may change the interest rate on your account daily. Notice of rate changes will be posted in our lobbies.
Minimum Balance Requirements
- You must deposit $10.00 to open this account.
- You must maintain a minimum balance of $10.00 in your account every day to obtain the annual percentage yield.
Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Fees
- No withdrawals will be permitted from this account.
- A $10.00 service charge will be assessed to your account on any returned third party check deposited to your account.
- A $25.00 early account closing fee will be assessed if you close your account before the club year ends.
Regulation E Transactions
We allow electronic check transactions to post to the customers' Christmas Club account.
Renewal Policy
This account will not be automatically renewed at maturity. At the end of the Club Year, the account balance will be completely distributed. The account will remain open for a period of 60 days (End of December each calendar year) to allow the Club member to use the same account the following year. Starting January 1 of each Calendar year new account with new account number will be issued for all Christmas Club accounts opened.
Money Market Account Disclosure
Rate Information
- Your interest rate and annual percentage yield may change. At our discretion, we may change the interest rate for your account at any time.
- Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
- Interest is compounded monthly and credited on the statement cycle date.
Minimum Balance Requirements
- You must deposit $2,500.00 to open this account.
- A minimum balance fee of $15.00 will be imposed each month if the balance in your account falls below $500.00 any day of the month.
Balance Computation Method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Compounding and Crediting
Interest for your account will be compounded monthly and credited to your account on the statement cycle date.
Accrual of Interest on Deposits Other Than Cash
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Regulation E Transactions
We the financial institution allow electronic check transactions to post to the customers Money Market Account.