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Home > Deposit Products > Savings Accounts > Passbook Savings

Passbook Savings

An open deposit account which earns our standard savings interest rate. The customer's balance and account activity is recorded in a "passbook". Passbook savings serves as our basic savings account.

Features:

Funds are invested in an open account that has no maturity
Additional deposits may be made to account at any time and in any amount
Up to 3 withdrawals may be made per month without a fee*
FDIC insured
Passbook

Benefits:

Funds always available **
Flexibility
Convenience
Safety
Easy record keeping for deposits, withdrawals, and interest

Opening Requirements:

Minimum $75.00 ($100 to earn interest)
Acceptable ID
Social Security Number or Tax ID Number

Who is Eligible:

Individuals
Businesses
Organizations

* Account may be changed to transaction account status.

** Seven day written notice of withdrawals may be required.

Inez Deposit Bank

Notice Of Changes In Temporary FDIC Insurance Coverage For Transaction Accounts

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts ("IOLTAs"). It does not include other accounts, such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, and money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.

NOTICE: Inez Deposit Bank is not responsible for and has no control over the subject matter, content, information, or graphics of the websites that have links here.