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©1999-2009 Bay-Vanguard. All Rights Reserved. |
FDIC insurance covers funds in deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit. The standard insurance amount currently is $250,000 per depositor. The $250,000 limit is permanent for certain retirement accounts, which includes IRAs. The $250,000 limit is temporary for all other deposit accounts through December 31, 2013. On January 1, 2014, the standard insurance amount will return to $100,000 per depositor for all account categories except certain retirement accounts, which will remain at $250,000 per depositor.
Bay-Vanguard Federal Savings Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2009, all noninterest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules.
Beginning January 1, 2010 Bay-Vanguard Federal Savings Bank will no longer participate in the FDIC’s Transaction Account Guarantee Program. Thus, after December 31, 2009, funds held in noninterest-bearing transaction accounts will no longer be guaranteed in full under the Transaction Account Guarantee Program, but will be insured up to $250,000 under the FDIC’s general deposit insurance rules.
Deposit Rates
Effective as of July 14 , 2010 .
Certificates of Deposit ($1,000 minimum)
(Penalty may be imposed for early withdrawal)
| Interest Rate |
Annual |
|
| 4 - 6 months | 0.50% | 0.50% |
| 7 - 12 months | 1.00% | 1.00% |
| 13 - 24 months | 1.35% | 1.35% |
| 25 - 42 months | 1.74% | 1.75% |
| 43 - 59 months | 2.08% | 2.10% |
| 60 months | 2.23% | 2.25% |
| 36 month (bump-up) | 1.49% | 1.50% |
Other
(Variable rate accounts, rates may change after account opened, fees may reduce earnings)
| Interest Rate |
Annual
Percentage Yield |
Min Bal for APY/to Open | |
| ISP Checking | 0.25% | 0.25% | $2,500/$2,500 |
| Statement Savings | 0.40% | 0.40% | $50/$50 |
| Regular Checking | 0.25% | 0.25% | $100/$100 |
| IRA Statement | 1.10% | 1.10% | $10/$10 |
Money Market
($2,500 to open, variable rate account, rate may change after account opened, fees may reduce earnings)
| Interest Rate |
Annual
Percentage Yield |
|
| $2,500 Min | 0.50% | 0.50% |
| $10,000 Min | 0.65% | 0.65% |
| $40,000 Min | 1.10% | 1.10% |
Disclosures:
Truth
in Savings Statement Access
Agreement ATM Cardholder Agreement
Electronic Funds Transfer Policy
Funds Availability Policy
Fee Schedule
