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Premium Savings |
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2.00% APR* |
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2.02% APY* |
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$10,000 Minimum Daily Balance (MDB) required to earn 2.02% APY. If MDB is not maintained, the rate drops to 0.56% APY, our regular savings rate. |
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$10,000 Initial Deposit |
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$25 per quarter Service Charge (only if the minimum balance falls below $10,000 during the quarterly statement cycle) |
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6 FREE withdrawals per quarter ($10 for each additional withdrawal)
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* The annual percentage rate (APR) and annual percentage yield (APY) may change. APR is compounded quarterly and credited to your account quarterly. APY is computed on the minimum balance.
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| Click here for information on how to open a savings account with us. |
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Certificates of Deposit (CDs) |
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Regardless of whether you are in your 20s, 40s, or 60s, your investment portfolio should include a certain percentage of cash, meaning money in some type of savings account. As you grow older, this percentage should increase.
A Certificate of Deposit, or CD, is a savings deposit made for a specified amount of time at a set interest rate (penalties may apply for early withdrawal). Unlike mutual funds and other stock investments, you take no risk with a CD. A CD is FDIC insured (up to $100,000 per depositor) and has a guaranteed interest rate, regardless of market conditions.
You can choose the term of your CD, anywhere from 7 days to 5 years. You can open a CD with as little as $500.
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| Click here for information on how to open a CD with us. |
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Statement Savings |
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0.55% APR* |
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0.56% APY* |
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$100 Minimum Monthly Balance (no minimum balance for minors) |
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$100 Initial Deposit |
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$10 per quarter Service Charge (only if the minimum balance falls below $100 during the quarterly statement cycle) |
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6 FREE withdrawals per quarter ($2.50 for each additional withdrawal) |
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ATM Card
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* The annual percentage rate (APR) and annual percentage yield (APY) may change. APR is compounded quarterly and credited to your account quarterly. APY is computed on the minimum balance.
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| Click here for information on how to open a savings account with us. |
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Holiday Club |
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The Bank of Hampton Roads still offers this traditional method of saving for the holidays.
Simply put a little away throughout the year and enjoy your December holidays without worrying about January bills.
Use your Holiday Club savings for gifts, travel, or any other extra expenses you have during the holidays.
In our club, you make 49 deposits. You choose the amount of the deposit: $10, $20, or $30 per week, which will yield $500, $1,000, or $1,500, respectively. Your initial deposit is your first payment ($10, $20, or $30).
As a Holiday Bonus, if you make 49 consecutive and timely deposits of the same amount into your Holiday Club, the Bank of Hampton Roads will make the 50th deposit for you.
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| Click here for information on how to open a Holiday Club Savings account with us. |
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Individual Retirement Accounts (IRAs) |
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An IRA is one of the best ways to save for your retirement years. It's NEVER too early OR too late to begin saving.
The Bank of Hampton Roads offers both Traditional and Roth IRAs as methods to save for retirement, and Education IRAs as a method to save for a child's education.
If you already have an IRA, you can easily transfer your existing IRA account into a Bank of Hampton Roads IRA without penalty. Remember you can have more than one IRA!
Initial deposit for an IRA is only $500.
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| Click here for information on how to open an IRA with us. |
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Not sure which kind of account best meets your needs? Ask us, we can help you decide.
For information on how to open an account, click here.
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