Calder Bank & Trust has offered savings accounts to families in the Tennessee Valley since 1913. Whether you are setting aside a first deposit for a child or holding a reserve you expect to draw on, we have an account that fits. Speak with a personal banker at any of our offices, or call (423) 555-0142.
Our basic savings account. Open one with $100.00, or with $25.00 if the account is for a client under the age of 18.
| Feature | Statement Savings |
|---|---|
| Minimum deposit to open | $100.00 ($25.00 for a client under 18) |
| Minimum daily balance to avoid the maintenance fee | $300.00 |
| Maintenance fee | $2.00 per quarter* |
| Minimum balance to earn the annual percentage yield | $300.00 |
| Interest compounded and credited | Quarterly, on the last business day of the quarter |
| Withdrawals | See the transfer limitation note below† |
| Statement | Quarterly, or monthly in any month with an electronic transfer |
A Statement Savings account for a client under 18 has no maintenance fee and no minimum balance requirement until the client turns 18, at which point the standard terms apply and we send a notice 30 days in advance. Parents and grandparents open most of these in an office, because a minor account requires the minor's Social Security number and an adult joint owner.
A tiered account for a larger balance you want to keep liquid. Check writing is included, limited to six drafts per statement cycle†, and there is no charge for a transfer between your Premier Money Market and a Calder checking account.
| Balance tier | Interest rate | Annual percentage yield |
|---|---|---|
| $0.01 – $9,999.99 | 0.40% | 0.40% |
| $10,000.00 – $49,999.99 | 2.72% | 2.75% |
| $50,000.00 – $249,999.99 | 3.11% | 3.15% |
| $250,000.00 and above | 3.35% | 3.40% |
Minimum deposit to open is $2,500.00. The minimum daily balance to avoid the $12.00 monthly maintenance fee is $2,500.00. The balance tier is determined by the collected balance in the account at the close of each business day, and interest is paid on the entire balance at the rate for the tier the balance falls in.
Terms from three to sixty months. A certificate is a good instrument for money you know the date of and a poor one for money you do not, because taking it out early costs you interest.
| Term | Minimum deposit | Interest rate | Annual percentage yield |
|---|---|---|---|
| 3 months | $1,000 | 2.90% | 2.94% |
| 6 months | $1,000 | 3.60% | 3.66% |
| 12 months | $1,000 | 4.05% | 4.13% |
| 13 months, Valley Bonus | $10,000 | 4.30% | 4.39% |
| 18 months | $1,000 | 3.95% | 4.02% |
| 24 months | $1,000 | 3.85% | 3.92% |
| 36 months | $1,000 | 3.55% | 3.61% |
| 48 months | $2,500 | 3.45% | 3.51% |
| 60 months | $2,500 | 3.40% | 3.45% |
Valley Bonus Certificate. Offer code VB1326. This is a 13-month certificate available on new money only, meaning funds not on deposit with the bank in the 30 days before the account is opened. Minimum $10,000.00, maximum $500,000.00 per taxpayer identification number. It is offered at our offices in Hamilton, Bradley, McMinn and Sequatchie counties and to online clients with a Tennessee address of record. At maturity it renews as a 12-month certificate at the rate then in effect unless you tell us otherwise during the grace period. The offer is scheduled to end September 30, 2026 and may be withdrawn before then.
If you withdraw principal before the maturity date we will impose a penalty:
The penalty is calculated on the interest rate in effect for the certificate at the time of withdrawal, whether or not that interest has been earned. If the penalty is larger than the interest earned, the difference comes out of principal, which is the part people do not expect. We may waive the penalty on the death or adjudication of incompetence of an owner, or where required for a required minimum distribution from an IRA certificate.
We mail a maturity notice at least 20 calendar days before the maturity date to the address of record. You have a grace period of 10 calendar days after maturity to withdraw funds, add funds or change the term without penalty. A certificate that is not redeemed or changed renews automatically for the same term at the rate in effect on the maturity date, except for special-term certificates, which renew into the standard term shown on the maturity notice.
Traditional and Roth IRAs are available as a savings account or as a certificate. The minimum deposit for an IRA certificate is $500.00. The annual custodial fee is $25.00, waived where the IRA balance is $10,000.00 or more on the last business day of the year, and there is a $50.00 fee to transfer an IRA to another custodian. Contribution limits and deductibility are set by federal tax law and we do not give tax advice. Our Wealth and Trust division administers self-directed and trusteed retirement accounts that hold assets other than bank deposits; call (423) 555-0198.
Calder Passbook Savings closed to new accounts on July 1, 2014. Existing passbook accounts continue and the passbook must be presented for a deposit or withdrawal made in an office. Replacement of a lost passbook is $18.00.
Save the Change, the program that rounded a debit card purchase up to the next dollar and moved the difference to a Statement Savings account, was retired on December 31, 2018 and the matching contribution ended with it. Clients who were enrolled keep the automatic transfer; it simply no longer matches. There is no way to enroll a new account.
| Account | Interest rate | Annual percentage yield |
|---|---|---|
| Statement Savings, balances of $300.00 and above | 0.7474% | 0.75% |
| Statement Savings, balances below $300.00 | 0.0499% | 0.05% |
| Premier Money Market, top tier | 3.3505% | 3.40% |
| 12-month Certificate of Deposit | 4.0011% | 4.05% |
Rates on savings and money market accounts are variable and may change at any time, including after the account is opened. Certificate rates are fixed for the term. This block is maintained by Deposit Operations and is republished when the rate sheet changes. Prior rate sheets are available on request at any office.
RATE INFORMATION. THE INTEREST RATE ON YOUR ACCOUNT IS 0.7474% WITH AN ANNUAL PERCENTAGE YIELD OF 0.75% ON THE PORTION OF YOUR DAILY BALANCE THAT IS $300.00 OR MORE. FOR THE PORTION OF YOUR DAILY BALANCE THAT IS LESS THAN $300.00 THE INTEREST RATE IS 0.0499% WITH AN ANNUAL PERCENTAGE YIELD OF 0.05%. YOUR INTEREST RATE AND ANNUAL PERCENTAGE YIELD MAY CHANGE. AT OUR DISCRETION WE MAY CHANGE THE INTEREST RATE ON YOUR ACCOUNT AT ANY TIME.
COMPOUNDING AND CREDITING FREQUENCY. INTEREST WILL BE COMPOUNDED QUARTERLY AND WILL BE CREDITED TO YOUR ACCOUNT QUARTERLY ON THE LAST BUSINESS DAY OF THE CALENDAR QUARTER. IF YOU CLOSE YOUR ACCOUNT BEFORE INTEREST IS CREDITED YOU WILL NOT RECEIVE THE ACCRUED INTEREST.
MINIMUM BALANCE REQUIREMENTS. THE MINIMUM BALANCE REQUIRED TO OPEN THIS ACCOUNT IS $100.00. YOU MUST MAINTAIN A MINIMUM DAILY BALANCE OF $300.00 IN THE ACCOUNT TO OBTAIN THE DISCLOSED ANNUAL PERCENTAGE YIELD. A MAINTENANCE FEE OF $2.00 WILL BE IMPOSED EVERY QUARTER IF THE DAILY BALANCE ON ANY DAY OF THE QUARTER FALLS BELOW $300.00.
BALANCE COMPUTATION METHOD. WE USE THE DAILY BALANCE METHOD TO CALCULATE THE INTEREST ON YOUR ACCOUNT. THIS METHOD APPLIES A DAILY PERIODIC RATE TO THE PRINCIPAL IN THE ACCOUNT EACH DAY.
ACCRUAL OF INTEREST ON NONCASH DEPOSITS. INTEREST BEGINS TO ACCRUE NO LATER THAN THE BUSINESS DAY WE RECEIVE CREDIT FOR THE DEPOSIT OF NONCASH ITEMS, FOR EXAMPLE CHECKS.
TRANSACTION LIMITATIONS. SEE THE TRANSFER LIMITATION NOTE AND THE ADDENDUM ON THIS PAGE.
FEES. SEE THE CONSUMER FEE SCHEDULE, AVAILABLE AT ANY OFFICE AND AT CALDERBANKONLINE.COM/PERSONAL/CHECKING. FEES MAY REDUCE THE EARNINGS ON THE ACCOUNT.
* The quarterly maintenance fee is not charged on an account whose owner is under 18 or 62 or older, on an account linked to a Premier Checking account, or in any quarter in which the daily balance did not fall below $300.00 on any day.
† TRANSFER LIMITATION. Federal regulation limits the number of transfers from a savings or money market account to six per calendar month or statement cycle when made by preauthorized or automatic transfer, by telephone or facsimile instruction, by check, draft or debit card, or by other similar order payable to a third party. Transfers and withdrawals made in an office, by mail, by messenger, or at an ATM are not counted. If you exceed the limit we may impose a fee of $10.00 per item, refuse the transfer, or close the account and transfer the balance to a checking account. See the April 2020 addendum above, which suspends this limitation.
‡ Annual percentage yields assume interest remains on deposit until maturity. A withdrawal of interest will reduce earnings.
Deposit accounts are insured by the Federal Deposit Insurance Corporation up to the maximum amount allowed by law. Coverage depends on account ownership category and is calculated per depositor, per insured bank. Use the FDIC's Electronic Deposit Insurance Estimator or ask any of our offices for help calculating your coverage.