Birthday money and income from a part-time job find a perfect home in this account. There's flexibility to withdraw funds when necessary, and the account continues to increase its value over time by earning tiered dividends.
- Open your account with a $5 deposit
- Earn tiered dividends quarterly
- Requires recurring monthly deposits of at least $10
- One free withdrawal during each calendar quarter (a $5 fee applies to additional withdrawals)
Here's an example of how your savings balance earn tiered dividends:
|Tier ||Balance ||Dividend Rate ||APY* |
|1 ||Up to $500 ||4.91% ||5.00% |
|2 ||$500.01 - $1,999.99 ||2.97% ||3.00% |
|3 ||2,000 and up ||0.25% ||0.25% |
In this example, if your average daily balance is $2,500, you will earn the tier 1 dividend rate on the first $500, the tier 2 dividend rate on the amount greater than $500 but not exceeding $1,999.99 and the tier 3 dividend rate on the amount greater than $2,000.00.
Opening your Fast Start Savings account is easy call 757.928.8850 or visit a convenient branch, and you can start building up your account. As your financial friend in the neighborhood, BayPort Credit Union is committed to improving the lives of our members in the Tidewater and Hampton Roads, Virginia, area.
*Annual Percentage Yield. Must be under 25 years of age to be eligible for a Fast Start Savings. Minimum monthly deposits of at least $10.00 required to earn the dividend rate/APY on your Fast Start Savings Account. If deposit requirement is not met, your dividends/APY earned on your funds will revert back to the Young Investors rate. Rates subject to change without notice.