Savings Account Options

 

At Panola National Bank we offer a comprehensive range of personal savings accounts.  Each account has different features which are categorized below.  This will assist you in deciding which account best fits yours needs. 

For more detailed information and for more assistance in selecting an account, we invite you to contact any of our new accounts representatives to further assist you.

 Personal Savings 

 

Compare Savings Accounts

 

 Product Type Minimum to Open Minimum Balance Maintenance Fee* Interest Bearing
Regular Savings Account 1 $100.00  $100.00  $5.00 per quarter if under minimum balance  Yes
Christmas Club Account 2 $2.00  N/A  N/A  Yes

Regular Savings Account


$100.00 Minimum Opening Balance
Interest is calculated on the daily balance method, compounded daily, credited quarterly (March 31, June 30, September 30, December 31).

Minimum Balance Maintenance Fee
Over $100.00 No Charge
Below $99.99 $5.00 per quarter

Three withdrawals per quarter (March 31, June 30, September 30, December 31) at no charge, thereafter a $3.00 excess withdrawal fee per withdrawal.

We may require not less than seven days notice in writing before each withdrawal from an interest bearing account other than a time deposit, or any other savings account as defined by Regulation D. Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. Any account that is closed within 90 days of opening is subject to an early withdrawal fee of $15.00.

Statements mailed quarterly.

Christmas Club Account


$2.00 Minimum Opening Balance
Interest is calculated on the daily balance method, compounded quarterly.

No maintenance fee.

Checks available to be picked up at the bank in mid-November.

We may require not less than seven days notice in writing before each withdrawal from an interest bearing account other than a time deposit, or any other savings account as defined by Regulation D. Withdrawals from a time account prior to maturity or prior to any notice period may be restricted and may be subject to penalty. Any account that is closed within 90 days of opening is subject to an early withdrawal fee of $15.00.

 

Money Market Checking Account

 

$2,500.00 Minimum Opening Balance
Interest is calculated on the daily balance method and credited monthly.

Rates may change at our discretion.

If balance falls below $2,500.00 a rate equal to passbook savings will be paid until the account balance is restored to $2,500.00. If the balance falls below $1,500.00, no interest will be paid until the balance is restored to $1,500.00.

Available to individuals, businesses, and profit-making corporations.

Minimum Balance Maintenance Fee
Over $2,500.00 No Charge
Below $2,499.99 $15.00

Limited check writing. 

We may reserve the right to, at anytime, require not less than seven days notice in writing before each withdrawal.

Statements mailed monthly.

 

For the annual percentage yield (APY), interest rates and additional disclosures, see a New Account Representative.

 

 

1 Regular Savings Account – Requires a $100.00 minimum opening balance, and interest is calculated on the daily balance method, compounded daily, and credited quarterly.  As long as the account remains over $100.00, there is no monthly maintenance fee.  If the account falls below $100.00, there is a $5.00 maintenance fee charged per quarter.

2 Christmas Club Account – Requires a $2.00 minimum opening balance, and interest is calculated on the daily balance method, compounded quarterly.  There is no maintenance fee for this account.  Checks will be available to be picked up at the bank in mid-November.