Savings

Savings

It’s never to late to start saving for your future. The First National Bank of Monterey offers a variety of savings products to help achieve your goals.

Savings Account

Rate Information
Your interest rate and annual percentage yield may change.
Frequency of rate change
We may change the interest rate on you account at any time.
Determination of rate
At our discretion, we may change the interest rate on your account.
Compounding & crediting frequency
Interest will be compounded every quarter. Interest will be credited to your account every quarter.
Minimum balance to open
A service charge fee of $1.00 per quarter and $.50 per withdrawal will be imposed each quarterly statement cycle if the daily balance falls below $300.01 any day of the cycle. Individual account holders under 18 years of age may be excluded.
Daily balance computation method
We use the daily balance method to calculate the interest on your account. The method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Transaction limitations
Transfers from a Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month with no transfers by check, draft, debit card, or similar order to third parties.

Health Savings Account

Rate Information
Your interest rate and annual percentage yield may change.
Frequency of rate change
We may change the interest rate on you account at any time.
Compounding & crediting frequency
Interest will be compounded every month. Interest will be credited to your account every month.
Minimum balance to open
You must deposit $50.00 to open this account.
Daily balance computation method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits
Interest begins to accrue on the business day you deposit noncash items (for example, checks).

Health Savings Account Fees

Description Fee
A maintenance fee of $2.50 will be charged each month.
Enrollment fee (one-time) $15
Transfer fee $25
Duplicate HSA checks First order free; additional orders at prevailing rate
Debit card (additional card) No Fee
Replacement for lost/stolen debit card $5

Christmas Club Account

Rate Information
Your interest rate and annual percentage yield may change.
Frequency of rate change
We may change the interest rate on your account at any time.
Determination of rate
At our discretion, we may change the interest rate on you account.
Compounding & crediting frequency
Interest will not be compounded. Interest will be credited to your account at maturity.
Effect of closing an account
If you close you account before interest is credited, you will not receive the accrued interest.
Minimum balance to open
You must deposit $1.00 to open this account.
Daily balance computation method
We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits
Interest begins to accrue on the business day you deposit non-cash items (for example, checks).
Transaction limitations
Withdrawals are restricted. Only at maturity will the account balance be paid by First National Bank. Payments are accepted in multiples of the scheduled payment on your Club account.