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Savings Accounts

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Compare Savings Accounts

Account TypeStatement Savings*Budget Bee Savings*Christmas Club**Coverdell Educational Savings Account**

Account Type


Opening Deposit

Statement Savings*


$50.00

Budget Bee Savings*


$5.00

Christmas Club**


$5.00

Coverdell Educational Savings Account**


$5.00

Account Type


Minimum Balance

Statement Savings*


$50.00

Budget Bee Savings*


$5.00

Christmas Club**


$5.00

Coverdell Educational Savings Account**


$5.00

Account Type


Maintenance Fee

Statement Savings*


$5.00 monthly fee
Fee is $0 providing the minimum balance requirement is maintained.

Budget Bee Savings*


No

Christmas Club**


$3.00 fee imposed if account balance is less than $250.00 by September 30th

Coverdell Educational Savings Account**


No

Account Type


Interest Bearing*

Statement Savings*


Yes

Budget Bee Savings*


Yes

Christmas Club**


Yes

Coverdell Educational Savings Account**


Yes

Account Type


Transaction Limits

Statement Savings*


No more than six transfers from your account during a statement cycle

Budget Bee Savings*


No more than six transfers from your account during a statement cycle

Christmas Club**


No withdrawals

Coverdell Educational Savings Account**


No

* Interest rates set by BayVanguard Bank are subject to change. Interest is calculated daily and credited monthly.
**Interest rates set by BayVanguard Bank are subject to change. Christmas Club and Coverdell Educational Savings – Interest is calculated daily and credited quarterly.

All accounts subject to qualification requirements and must agree to Terms and Conditions

Statement Savings

A minimum deposit of $50.00 is required to open a Statement Savings. The following conditions apply:

  • Interest compounded daily and credited monthly
  • Minimum balance to earn interest is $50.00
  • No more than six (6) transfers from your account during a statement cycle
  • $5.00 monthly maintenance fee if balance drops below $50.00
  • Variable interest rate

Budget Bee Savings

A minimum deposit of $5.00 is required to open a Statement Savings. The following conditions apply:

  • Minor must be primary account holder with a parent or guardian as a signer on the account
  • Interest compounded daily and credited monthly
  • Minimum balance to earn interest is $5.00
  • No more than six (6) transfers from your account during a statement cycle
  • Variable interest rate

Christmas Club

A minimum deposit of $5.00 is required to open a Statement Savings. The following conditions apply:

  • Interest compounded daily and credited quarterly
  • Minimum balance to earn interest is $5.00
  • Early closeout penalty $20.00
  • Variable interest rate
  • $250.00 minimum balance by September 30th to avoid $3.00 maintenance fee
  • Distribution offered as check or internal transfer

Coverdell Educational Savings Account

A minimum deposit of $5.00 is required to open a Statement Savings. The following conditions apply:

  • Interest compounded daily and credited quarterly
  • Minimum balance to earn interest is $5.00
  • The maximum annual contribution per designated beneficiary is $2,000.00
  • Accounts are set up in a child’s name and social security number, also known as beneficiary. ESA’s require the naming of a “responsible individual”. This must be a parent or guardian. The child would not be the signer.
  • Annual contributions can be received up to age 18. Distributions must be completed by age 30.

Contact Us

Phone:
410-768-5300
Fax:
410-760-6016
Address:
8070 Ritchie Hwy Pasadena, MD  21122

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To report lost or stolen cards, call us at 410-768-5300 during regular business hours. After hours, please call 1-800-523-4175.

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