Advantage Four Relationship Banking Package

Advantage Four is our new premium retail banking package. It is anchored with a Spratt Savings Bank checking account. You may select from among all of our retail products an additional three (3) services to bring the total number of services to four (4). Advantage Four certificates of deposit will pay our highest rates of interest. The checking account and certificate of deposit make up two of the required four services, add to that our free Thrift-E online banking and SOS (Spratt Overdraft Security) overdraft line of credit protection and you just qualified for Advantage Four. Consumer loans, mortgage loans and other retail loan products also count toward the four services. As an Advantage Four customer you may also qualify for discounts on retail loan products as well as higher rates paid on regular savings accounts. Contact us today for more information!

Statement Savings

Standard savings product with competitive rates. Fully descriptive statements are rendered quarterly.

• $50.00 to open
• Interest compounded daily and paid quarterly
• $50 minimum balance required to avoid a service fee
• 3 transactions allowed per month with no excess withdrawal fee

Minor Savings Account

Statement Savings that can be opened for an individual 18 years or younger by parent or guardian.

• $50.00 to open
• Interest compounded daily and paid quarterly
• $50 minimum balance requirement to avoid a service fee
• 3 transactions allowed per month with no excess withdrawal fee

Christmas Club Savings

We have received many requests to re-introduce this old favorite. We agree with many of you that now would be a good time to offer this very practical product. Customers have suggested that they would use this product as a tool for more than stashing away funds just for Christmas, it would be used to systematically save for other year-end expenses such as taxes or insurance. Whatever your need, see us today to open your account!

Money Market Demand Deposit Account

This account offers higher interest rates however the number of transactions is restricted.

• Minimum to open $2,500
• No limits on additions to account
• 6 Withdrawals per statement cycle allowed before incurring excess withdrawal fees
• Unlimited over-the-counter withdrawals
• $200 minimum balance to avoid monthly fee

Preferred Investment Account

This is an investment account paying higher interest with restricted transaction activity. Offers daily availability of funds. Interest is compounded daily and paid monthly.

• $5,000 to open
• 6 Withdrawals per statement period allowed before incurring excess withdrawal fees
• Unlimited over-the-counter withdrawals

Certificates of Deposit

Certificates are savings plans that pay a fixed rate of interest for a specified term.  Minimum opening balance requirements vary based on the term of the certificate.  Some certificates can be opened for as low as $500.  Automatic renewals are provided on all certificates for your convenience.  Spratt Savings Bank has competitive rates and terms to meet your investment and time horizon needs. We also offer outstanding “Specials” that we encourage you to investigate.

• opening balance based on product selected and term
• opening minimum balance requirements range from $500 – $2,500
• Maturity dates range from 30 days to 48 months

Health Savings Account

Our Health Savings Account is a tax-exempt*, custodial savings account for either individuals or families that are covered under a high deductible health plan. Withdrawn funds are restricted for the payment for qualified medical expenses.  Interest is earned on contributions that is compounded daily and paid quarterly.

• Quarterly statement
• HSA VISA® debit card
• Earns interest
• Easy access to pay for medical expenses

 *Consult your tax advisor concerning contribution amounts and tax deductibility.