Savings Accounts

Individuals today are always looking for the right investment choice to maximize their hard-earned dollars. At Bank of Bourbonnais we want to be sure that you are making the right decisions and earning as much as possible. From Savings Accounts to Certificates of Deposit and more…we offer a wide range of investment choices. And we’ll help you select the best alternatives to meet your current and future needs.

Our Statement Savings account earns a competitive interest rate and gives you full access to your funds. Quarterly statements are available detailing all your transactions, or for those customers with multiple accounts a monthly combined statement may be a more convenient option.

Minimum opening deposit:	$200.00
Minimum balance to obtain the annual percentage yield disclosed:	You must maintain a minimum balance of $200.00 in the account each day to obtain the disclosed annual percentage yield.
Monthly maintenance fee:	A $5.00 maintenance fee will be imposed every month if the balance in the account falls below $200.00 any day of the month.
Compounding and Crediting frequency:	Interest will be compounded every day. Interest will be credited to your account quarterly.
Transaction Limitations:	Transfers from a Savings Account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per monthly statement cycle with no more than three by draft or similar order to third parties.
Excess Service Fee:	A maintenance fee of $1.00 will be charged for each withdrawal in excess of three per month.
Combined Statements:	Free.
Online Banking:	Free.
ATM Card:	Free.

Enjoy these additional valued services:

• Detailed quarterly statement
• Direct Deposit of payroll or government check
• Direct Connect 24-Hour Telephone Banking
• Safe Deposit Box Service
• Telephone and online transfers to and from your Bank of Bourbonnais accounts

Our Penny Savers Statement Savings account is designed to help children under the age of 18 learn the value of money through savings. With no minimum balance to maintain, this account allows children to save without the worry of fees.

Minimum opening deposit:	$25.00
Minimum balance to obtain the annual percentage yield disclosed:	None.
Monthly maintenance fee:	None.
Compounding and Crediting frequency:	Interest will be compounded and credited quarterly.
Transaction Limitations:	Transfers from a Savings Account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per monthly statement cycle with no more than three by draft or similar order to third parties.
Fees:	None.
Combined Statements:	Free.
Online Banking:	Free.

Enjoy these additional valued services:

• Detailed quarterly statement
• Direct Connect 24-Hour Telephone Banking
• Telephone and online transfers to and from your Bank of Bourbonnais accounts

Certificates of Deposits (CD’s) are investment products that provide you with a guaranteed rate of return for a specified period of time. Certificates are available in varying terms. Most minimum deposits and balances to earn interest are as low as $500.00. A monthly interest transfer or check is available on accounts with a minimum balance of $10,000.00. All certificates will be renewed subject to the renewal terms of the individual certificate. For information regarding terms and rates click here.

Individual Retirement Accounts (IRA’s) are a retirement savings plan for anyone under the age of 70 ½ with eligible earned income. It enables you to save money for retirement. Our Individual Retirement Accounts are backed by Certificates of Deposits, which provide you with a guaranteed rate of return. Types of IRA’s available are Traditional and Roth. Don’t forget IRA’s are still considered a good tax-deferred option for most people, because you pay no taxes on the income earned until the money is withdrawn – which is usually not until retirement!

However you choose to save, start early in order to provide yourself the best opportunity for a worry-free retirement.

For information regarding terms and rates click here.