Savings & Money Market
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Southport Bank offers a variety of savings plans. Should you have any questions please call or visit your nearest branch location or contact us over the Internet. |
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Statement Savings
- Minimum Balance Requirement to Open the Account: $250
- Minimum Daily Balance Requirement: $250
ATM card:
- Free at Southport Bank owned ATMs.
- $1 fee for withdrawals from Non-proprietary ATM*
Fees:
- $3.50 Monthly service fee if minimum daily balance requirement is not met
Limitations:
- You may not make more than six pre-authorized, automatic, computer, or telephone transfers from this account in a monthly statement cycle
- A $15.00 fee will be charged for each transfer over six clearing in a monthly statement cycle
* Non-Proprietary ATMs are terminals not owned or operated by Southport Bank. These terminals may assess additional fees for withdrawals, transfers and balance inquiries.
Minor Savings
- For individuals under the age of 18
- Minimum Balance Requirement to Open the Account: $10.00
Limitations:
- You may not make more than six pre-authorized, automatic, computer, or telephone transfers from this account in a monthly statement cycle
- A $15.00 fee will be charged for each transfer over six clearing in a monthly statement cycle
Money Market Investment
- Minimum Balance Requirement to Open the Account: $2,500
- Minimum Daily Balance Requirement: $2,500
Fees:
- $15.00 Monthly service fee if minimum daily balance requirement is not met
Limitations:
- You may not make more than six pre-authorized, automatic, computer, or telephone transfers including checks written from this account in a monthly statement cycle
- A $15.00 fee will be charged for each transfer or check written over six clearing in a monthly statement cycle
Certificates of Deposit
- Minimum Balance Requirement to Open the Account: $1,000 (CD specials may require a higher opening balance. See our rate sheet for more information.)
Additional Features:
- Terms available from 30 days to five years
- All certificate are subject to early withdrawal penalty
- 1-10 day grace period (depending on term)
Individual Retirement Accounts
Southport Bank offers a variety of certificate of deposit account terms that can be used for individuals receiving a distribution from a 401(K) plan and who desire to continue to defer taxation on the funds, or for individuals who are making their own investment decisions. Rates and special certificate of deposit offers are available by calling or visiting your nearest office location or contact us over the internet.
