Savings
Do you have a specific savings goal in mind or just an eye towards investing in your future? Whether collecting interest on a personal account, earning fixed interest on a CD or supplementing your savings with an IRA, HCN Bank has a personal savings account to help get you there!
Compare our Savings Accounts
Product | Personal Savings | Minor-Trust Savings | Investor Savings | Personal
| Club Savings Account |
Designed for: | Anyone looking for an easy way to save with a low minimum deposit. | A savings account for minor beneficiaries. | A savings account that earns higher rates on larger balances. | Individuals wanting to earn interest with check writing capabilities. | Anyone looking to save for: Holiday Back to School Vacation Property Tax Bills |
Key Features and Benefits: | FREE Online Banking | FREE Online Banking Save for college education or other future expenses | Premium interest rate Must maintain a minimum daily balance of $2,500 to earn interest. | FREE Online Banking | Automatic transfer from checking. Funds are disbursed to a checking account, in time to pay for designated expenses. |
Minimum Opening Deposit: | $100 | $100 | $10,000 | $2,500 | N/A |
Monthly Service Fee: | $3.00 | No fee for beneficiaries under 18 years of age | $15.00 | $10.00 | N/A |
Minimum Daily Balance to Avoid Monthly Service Fee: | $300 | N/A | $2,500 | $2,500 | N/A |
Activity Limits: | Up to 6 withdrawals per month. A $2 withdrawal fee for each withdrawal over 6 per month. | Up to 6 withdrawals per month. A $2 withdrawal fee for each withdrawal over 6 per month. | Up to 6 withdrawals per month. A $2 withdrawal fee for each withdrawal over 6 per month. | None | No withdrawals. |
Interest: | Interest paid quarterly | Interest paid quarterly | Interest paid monthly | Interest paid monthly | Interest paid quarterly |
Community Involvement
Home State Bank is a proud to be a part of the Royal Community. We are happy to support these and other local business in our town.
Certificates of Deposit
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Invest in a standard Certificate of Deposit with as little as $2,500
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Terms range from 3 months to 60 months
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Competitive interest rates
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Automatically renewable
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Interest rate may be compounded or paid directly to checking/savings
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Early withdrawal penalties apply
Individual Retirement Accounts
HCN Bank would like to help you prepare for your future with long term savings solutions. We offer Traditional and Roth IRAs with fixed and variable terms at competitive rates.
*Traditional IRA Plans
A Traditional IRA is a way to save for retirement that gives you tax advantages. Contributions you make to a traditional IRA may be fully or partially deductible, depending on your circumstances (Contributions are fully deductible for all individuals who are not active participants in employer-sponsored plans or for plan participants within certain income ranges.) Generally, amounts in your traditional IRA (including earnings and gains) are not taxed until distributed.
*Consult Your Tax Advisor Prior to Account Opening
*ROTH IRA Plans
A Roth IRA is an individual retirement account that offers tax-free growth and tax-free withdrawals in retirement. Roth IRA rules dictate that as long as you've owned your account for 5 years* and you're age 59½ or older, you can withdraw your money tax free. Withdrawals before age 59 ½ may be subject to taxes and penalty. IRA can be passed on to your beneficiaries, and their withdrawals will be tax-free. Contributions are not tax deductible.
*Income restrictions may apply.
Visit a local HCN Bank branch and speak with a Representative for additional details and assistance with opening your account.
*Consult Your Tax Advisor Prior to Account Opening
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