All traditional savings accounts come with access for Direct Deposit, 24-hour Telephone Automated Account Information, postage paid Bank by Mail Services and reduced rates on Cambridgeport Bank Personal Loans with automatic payment setup (excludes Kids Bank Club accounts). The FDIC and the DIF (Depositors Insurance Fund) insure all Cambridgeport Bank deposits. No depositor in a DIF bank has ever lost a penny of principal or interest.

Cambridgeport Bank offers different types of traditional savings accounts from your everyday transaction savings to Kids Club account.

Select the products that best fit your busy schedule.

STATEMENT SAVINGS	KIDS CLUB SAVINGS
PASSBOOK SAVINGS	REAL SAVINGS

 

STATEMENT SAVINGS FEATURES

A perfect companion to our Free or Now Checking Accounts. Since this account has a low minimum balance requirement, it is also ideal for a first savings account or when you are saving for a purpose.

Low monthly maintenance fee of $2.00 can be avoided with maintained minimum balance of $250.00
Use the balance of $2,500 in this account to avoid monthly fees and minimum balance requirements for a NOW Checking account
3 FREE ATM withdrawals per statement period at over 300,000 ATM locations (including other banks' machines)
No fee purchases with your ATM card at participating merchants
Unlimited FREE ATM transfers between your savings and checking accounts

Important Information

• Statement account detail can be combined with a checking account for one consolidated monthly statement.
• Federal Regulations limit Telephone and ACH transfers to a maximum of 6 per statement period.

Interest Rate

• Daily interest accrues when the minimum balance of $10.00 is maintained.
• Interest is compounded monthly on the statement date.
• The interest rate is variable.

Minimum Balance / Service Charges

• No monthly maintenance fees are charged if you are age 18 and under or age 65 and older and have requested an exemption from such fees.
• $1.25 fee for each network ATM withdrawal exceeding 3 per statement period.

PASSBOOK SAVINGS FEATURES

This account lets you keep track of your balance and all transactions in a passbook. This is a great account if you want to minimize record keeping and have a complete account history in one place. Since this account has a low minimum balance requirement, it is ideal for a first savings account or when you are saving for a purpose.

Low monthly maintenance fee of $2.00 can be avoided with maintained minimum balance of $250.00
Use the balance of $2,500 in this account to avoid monthly fees and minimum balance requirements for a NOW Checking account
Use the passbook as collateral for a low interest Cambridgeport Bank Personal Loan
Make deposits and updates without even visiting the branch using Cambridgeport "Bank by Mail" service

Important Information

• The passbook is required for all withdrawals on a Passbook Savings account.
• ATM access is not available for this account.
• There is a lost Passbook fee of $10 for lost passbooks.

Interest Rate

• Daily interest accrues when the minimum balance of $10 is maintained.
• Interest is compounded and posted monthly on the last day of each month.
• The interest rate is variable.

KIDS CLUB SAVINGS FEATURES

The Passbook Savings account is specifically designed to for kids age 12 and under. This Free account has extra features to encourage and reward kids for saving.

Allows additional savings by avoiding monthly fees
Special birthday deposit each year up to age 12
Birthday postcard sent the month of child's birthday
FREE Kids Club water bottle
Colorful special Kids Club Passbook
"I saved today" sticker awarded for each deposit

Important Information

• Limit of one Kids Club account per child. No ATM access.
• The Passbook is required for all withdrawals on a Kids Club account.
• To qualify for a birthday deposit, a minimum balance of $50 is required the month before the child's birthday.

Interest Rate

• Daily interest accrues when the minimum balance of $10 is maintained.
• Interest is compounded monthly on the last day of each month.
• The interest rate is variable.

Minimum Balance / Service Charges

• There are no monthly maintenance fees until the child reaches the age of 19.

REAL SAVINGS FEATURES
(Only Available for Limited Times)

This account is a perfect companion to a Real Checking account or as an alternative for Overdraft protection for the Cambridgeport Bank Appreciation Checking account. The greater your balance, the higher the interest rate you receive.

Companion savings account and customer must have an open Real Checking or Appreciation Checking
Maintain a combined balance of $5,000 in this account and a Real Checking account and we'll waive the monthly checking maintenance fees
Tiered interest rates based on account balances
Unlimited FREE network transfers
Allows for Overdraft Protection for the either the Real Checking or Appreciation Checking accounts.

Important Information

• The customer must have open a Real or Appreciation Checking to be eligible for a Real Savings account.
• No free ATM withdrawals are allowed on Real Savings account.
• Under the overdraft transfer option, there can be no more than six automatic transfers per statement period from the Real Savings accounts to cover insufficient funds in the Real Checking.
• Federal Regulations limit telephone, ACH, and overdraft transfers to a maximum of six per statement period.

Interest Rate

• Daily interest accrues when the minimum balance of $10 is maintained.
• The interest is compounded monthly on the statement date.
• The customer is paid tiered interest rates based on account balances:
  -First tier: $10.00 - $9,999.99
  -Second tier: $10,000.00 - $24,999.99
  -Third tier: $25,000.00 and above

Minimum Balance / Service Charges

• No maintenance fee as long as the customer maintains a companion Real or Appreciation account in any amount.
• If the Real or Appreciation Checking account is closed, Money Market fees apply to the account

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