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Personal Savings

Putnam Bank offers the following Personal Savings products:


Personal Savings

Savings Accounts

A simple savings tool with fast and easy access to your funds. Choose either a Passbook or Statement Savings Account. Our Statement Savings Account gives you the added benefit of 24 hour ATM access to your cash. Combine a Statement Savings Account with our Classic Checking Account and receive one convenient monthly statement. (Passbook Savings Accounts are not accessible online.)

  • Minimum Balance of $200.00
  • Monthly fee of $2.00 if balance falls below $200 at any time.
  • Minimum Balance to earn interest is $50.00
  • Interest Compounded Daily
  • A fee of $9.50 per transaction is imposed for exceeding transfer limitations*

*Transfers from a Statement Savings account to another account or to third parties by preauthorized, automatic, computer, check, debit card, or similar order and telephone transfer are limited to six per statement cycle. 

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Student Saver 

An account designed for children and teenagers to help them develop money management and create consistent savings habits.   

  • Minimum to open $5.00
  • Daily Minimum Balance - None
  • Monthly Fee - None
  • Interest earned on all balances
  • No ATM card available
  • Must be 5-18 years old  Account must be opened with a parent or guardian as a signer.
     

Transfers from a Statement Savings account to another account or to third parties by preauthorized, automatic, computer, check, debit card, or similar order and telephone transfer are limited to six per statement cycle. 


Success Saver Account

Personal Savings

The Success Saver account is a savings account that works together with your Success Checking.  These accounts are linked together, so the interest earned on your Success Checking and any ATM fee refunds are automatically deposited into your savings account each month.  

Click here for current rates.  

  • No minimum balance or monthly service fee.
  • FREE Telephone Banking & eStatements
  • FREE Online Banking

The Success Saver account earns a base rate of interest, but if you meet all the qualifications of the Success Checking account you earn an even higher interest rate with your savings.

Learn more about the Success Checking.

Minimum to open $20. Must open Success Checking to have this account. Personal accounts only. Must be 18 Years or Older. One account per Social Security Number. Paper account statements are not available on this account. See Success Checking Account for full disclosure of account qualification requirements.nbsp; 


Prestige Money Market Passbook Account

This is a tiered money market passbook account which enables you to earn higher rates of interest on larger balances.

  • Maintain a minimum daily balance of $1,000.00 to avoid $12.00 monthly service fee,
  • A fee of $9.50 per transaction is imposed for exceeding transfer limitations*,
  • Maintain a minimum daily balance of $1,000.00 to earn interest,
  • Free Telephone Banking Service

*You may not make any transfers from a Money Market Passbook Account to third parties by preauthorized, automatic, computer or telephone transfer. You may make transfers from your Prestige Money Market Passbook Account to another account of yours with Putnam Bank by preauthorized or automatic but are limited to six per month.


Personal Savings

Club Accounts

Vacation and Christmas Clubs provide a convenient and easy way to save for that special event. Club Accounts are available in $5.00 increments, so you can choose the amount you want to save. 

  • Daily Minimum Balance - None
  • Monthly Fee - None
  • Interest earned on all balances
  • Interest Compounded Daily

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Certificates of Deposit

Our Certificates of Deposit consistently offer competitive rates of interest. Terms range from 91 days to 5 years. The minimum deposit starts as low as $500.00. 
 


Personal Savings

Individual Retirement Accounts

Choose the right retirement account to fit your needs.  We offer Traditional, Rollover, Roth, SIMPLE, Education and SEP products. Various investment terms are available, including Certificates of Deposit and our IRA Statement Savings Account. 

  • Certificates of Deposit -  CD terms range from 6 months to 5 years; minimums start as low as $250.00.

At Putnam Bank, you can consolidate all your IRA contributions into one Certificate of Deposit (CD).  Most other banks open new CDs every time you make an IRA contribution.  Managing multiple CDs with varying maturity dates can be a paperwork nightmare.

You may make additional contributions to any of our IRA CDs, up to the maximum allowed, any time during the term of the CD in amounts of $100 or more.
 

  • *IRA Statement Savings Account* - An easy way to save for retirement.  Our IRA Statement Savings Account lets you build your retirement nest egg a little bit at a time.  Open with just $50, and make recurring automatic transfers in amounts you can afford.  Before you know it, you'll be on your way to a more comfortable tomorrow.
  • Minimum to open account is $50.
  • Maintain a minimum balance of $50 to earn interest.

* Transfers from an IRA Statements Savings Account to another account or to third parties by preauthorized, automatic, computer, or telephone transfer are limited to six per month, with no transfers by check, debit card, or similar order to third parties.

Early withdrawal penalties apply.

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Keep Your employees and business healthy!

Health Savings Accounts

Health Savings Accounts, or HSAs, were created by Congress to combat rising medical costs by providing people with an incentive for paying "first-dollar" medical expenses. An HSA is an IRA-like account that is designed exclusively for covering medical expenses for individuals and families with high deductible health insurance plans. Not only can HSAs provide tax benefits related to paying qualified medical expenses, they also provide benefits similar to many traditional retirement plans.
 


Personal Savings - ATM card

Putnam Bank ATM Card

Our ATM Card offers access to any ATM displaying the NYCE and CIRRUS logos to obtain cash at thousands of locations worldwide, 24 hours a day.  Make deposits, withdraw cash, or transfer funds between accounts at any of our Putnam Bank ATM locations.

  • Account Access 24 hours a day
  • No Fee at any Putnam Bank ATM
  • Transaction Fee of $1.00 at another bank* 

*Putnam Bank is a member of the SUM Program. Look for the SUM logo whenever you use a foreign ATM to avoid paying a surcharge. 
(Foreign ATM transaction fees may still apply).

Please contact us  for more information or visit our  offices.

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