Watertown Savings Bank offers a variety of savings options.
They are designed to offer small and large depositors good value and unbeatable security for their savings. Competitive rates and unlimited deposit insurance guarantee depositors a positive return on their savings. Please refer to the rates page for current rates on the accounts listed below.
Passbook Savings
This traditional savings account provides you with a compact, easy-to-read, continual record of transactions on your account. You can open a passbook savings account with as little as $10. There is no monthly service charge.
Access Savings
With this savings account a statement record of your transactions will be sent to you each month. This account allows you access to your funds via an ATM or teller. You can also transfer funds to and from this account by the Internet or by telephone (up to six (6) times per statement cycle). There is a $2 monthly fee, but that is waived if you maintain a balance of $100 throughout the statement cycle. You need only $10 to open an Access Savings account. There is no monthly service charge for customers 18 years and younger or 65 years and older.
Presidential Savings
This account provides easy access to your funds and rewards you with a higher return on higher deposits. It is a tiered rate account, so the higher the balance the more you can earn. It requires a $5,000 minimum opening deposit. The $10 monthly service charge is waived by maintaining a $5,000 balance throughout the statement cycle.
Money Market Account
This popular savings model offers you a higher-yielding rate of interest and gives you the option to write a check when you need it. Requirements: This account requires a $5,000 minimum opening deposit. The $10 monthly service charge is waived by maintaining a $5,000 balance throughout the statement cycle. You may make six (6) transfers from your account each statement cycle by preauthorized or automatic transfer, by telephone or by Internet. Three (3) of these transfers may be made by check, draft, debit card or similar order (including POS transactions).
The Pinnacle Account
The Pinnacle Account is a combination checking and savings account that offers you the best that Watertown Savings Bank has to offer. Pinnacle account customers enjoy the following features at no additional charge:
Our best rates on your savings and checking funds
Free checks (standard safety checks)
Unlimited checkwriting
Free Internet banking
Free bill pay
Free transfer overdraft protection
Free unrestricted ATM use*
$500 discount on mortgage closing costs**
One percent discount on consumer loan rates with auto-payment
Annual $20 discount on a safe deposit box rental with auto-payment
Access to thousands of surcharge-free ATMs throughout the Northeast
And if you do receive a surcharge from any ATM, bring in your receipt.
We will reimburse you up to $10 per month in surcharge fees!
With a Pinnacle Account you will experience the best of Watertown Savings Bank. Minimum opening deposit for The Pinnacle Account is $10,000. The monthly service charge is $15. That fee is waived by maintaining a combined balance of $10,000. The combined balance includes funds from the Pinnacle checking and savings accounts along with funds from any combination of other WSB savings accounts or CDs you may have.
*Other banks may impose a fee to use their ATM.
**Primary residence, original mortgage
Certificates of Deposit
Enjoy the comfort of earning a higher rate of interest on your funds while avoiding any risk to your principal. Certificates of deposit are risk free investments with which to maximize your hard earned dollars. We offer competitive rates and a broad range of maturity dates. Interest is compounded monthly or you can opt to have your monthly dividend mailed directly to you.
Individual Retirement Accounts
Developed to provide incentive for people to save for retirement, these accounts offer substantial tax advantages to most citizens. We offer competitive rates and a broad range of maturity dates. While there are certain restrictions to deducting your annual contributions from your federal income tax, interest earned within a standard IRA is not taxed until it is withdrawn.
Roth IRAs are not tax-deductible but feature tax free withdrawals for certain distribution reasons after a five-year holding period. You can put your Standard or Roth IRA funds in either a high yielding Certificate of Deposit or in a more accessible statement savings format.
Holiday Clubs
This is a great account to help you save for the holidays, a special trip or a valuable purchase. You can choose from either the traditional weekly coupon booklet method of saving or set up automatic payments to your Club account by scheduling weekly transfers of $10 or more from your WSB checking account. In October, we'll send you a check for the balance in your account. Call or email for further information.
Weekly payment coupons help you save for the holidays, a special trip or a valuable purchase. When all of your coupons are paid, a check is sent to your home. Ask our tellers for a Holiday Club disclosure to find out more.
FDIC and DIF Insured
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Current Rates!
