Putnam Bank offers the following Personal Savings products:
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.)
*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.
An account designed for children and teenagers to help them develop money management and create consistent savings habits. This account paired with participation in our MoneyIsland™ game will teach your children important life skills for a successful financial future. MoneyIsland™ is an interactive online game that teaches children about finances and budgeting through adventurous quests to exotic destinations.
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.
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.
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.
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.
This is a tiered money market passbook account which enables you to earn higher rates of interest on larger balances.
*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.
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.
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.
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.
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.
* 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.
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.
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.
*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).