Savings
How your deposits stimulate Texas business
We’ve been busy the last four years and have achieved steady and smart expansion. In that time, a growing number of Texans have chosen Green Bank and have been delighted with our service and efficiency. As a result, we have fostered growth through more loans and lines of credit. We have also quadrupled in size.
To continue our successes, we need to increase our deposit base. Take a moment to check out our market-leading rates.
Click here to learn more.Do all CD rates drop like a stone when the term expires?
Contact a Green Banker and find out how we’re different. Contact UsDid You Know?
You can link your checking account to another account for overdraft protection. Use your checking, savings or money market accounts to automatically transfers funds from savings or money market accounts. There is no fee for the transfer between accounts and no NSF fee charged; Green Bank money markets allow for up to six transactions per month at no cost.
Savings are Sustainable
How can you align your financial interests with the needs of the planet? Fortunately, the two can exist in harmony. In fact, our customers benefit from being environmentally responsible—better rates and less paper.
We have several market-leading options: Green Money Market, savings and minor savings accounts, CDs and IRAs—traditional and Roth. Please don’t hesitate to call a banker for more information.
| CONSUMER SAVINGS | CONSUMER OR BUSINESS SAVINGS ACCOUNTS | ||
| Green Savings ‐ Minor | Green Savings | Green Money Market Account | |
| Minimum to Open | $10.00 | $100.00 | $2,500.00 |
| Interest Tiers by Balance | Same rate for all balances | Same rate for all balances | $0 to $9,999 $10,000 to $49,999 $50,000 to $99,999 $100,000 to $499,999 $500,000 to $999,999 $1,000,000 to $1,999,999 $2,000,000 to $4,999,999 $5,000,000 and over |
| Interest Information | Interest paid quarterly | Interest paid quarterly | Calculated on daily ledger balance; paid monthly |
| Minimum Balance or Requirements to Avoid Service Charge | No service charge until minor reaches 18 years | $300.00 average ledger balance during quarter | $5,000.00 minimum daily balance |
| Service Charge | None | $6.00 per quarter | $15.00 per month |
| Transaction Limits & Charges | 6 withdrawals per quarter; $2.00 fee per withdrawal over 6 per quarter | 6 withdrawals per quarter; $2.00 fee per withdrawal over 6 per quarter | Transfers to another account or third parties by preauthorized, automatic, telephone, computer transfer, debit card, check, draft, or similar order are limited to 6 per statement cycle; $15.00 fee per item over limitation per month |
| Surcharge auto-refunds for Non‐Green Bank ATM withdrawals | Not applicable | Unlimited; US only | Unlimited; US only |
| Green Bank ATM Transaction Fee | Not applicable | None | None |
| Check Images | Not applicable | Not applicable | Images in statements |
| *Please see your Green Banker for complete account information. VISA Debit Cards Available. No charge for Consumer Online Banking, Online Bill Pay or 24 Hour Phone Banking. | |||
Green Money Market Account
Looking to make a premium on your savings? Our Green Money Market Account is designed for businesses and individuals who want the high return of an investment account with the liquidity and flexibility of a checking account. This tiered account earns a premium interest rate, compounded monthly. Enjoy some of the highest money market rates and access to your money when you need it.
Product Information:
- $2,500.00 minimum to open
- $5,000.00 minimum daily balance to avoid a $15.00 service charge
Tier Balances:
- $0.00 to $9,999.99
- $10,000.00 to $49,999.99
- $50,000.00 to $99,999.99
- $100,000.00 to $499,999.99
- $500,000.00 to $999,999.99
- $1,000,000.00 to $1,999,999.99
- $2,000,000.00 to $4,999,999.99
- $5,000,000.00 and above
Limitations:
- Six transactions from account per statement cycle
- Unlimited transfers in person or by ATM
Features:
- Free Online Banking
- Free E-Statements or Paper Statements
Certificates of Deposit
With a Green Bank CD, you can earn a guaranteed rate of interest over a term that you choose. We offer a wide variety of certificates, ranging from seven days to five years. Interest on these accounts can be compounded quarterly, paid monthly by check or transferred to a Green Bank deposit account.
Consider the advantages of a Green Bank CD:
- A secure, safe place to put your money
- CDs are not subject to market fluctuations
- Interest-bearing deposits are generally insured by the FDIC to $250,000.00
IRAs
What’s the outlook for your golden years? Whether you want to build a comfortable nest egg or fund something more immediate, we offer IRAs that make it easy to build your savings.
Highlights of Green Bank Individual Retirement Accounts:
- Terms ranging from 6 months to 5 years
- Contribution may be tax deductible
- All earnings are tax deferred until a distribution is taken
- You have until April 15th of each year to open and fund a Traditional IRA for the prior tax year
- Minimum of $100.00 to open
- Since 2008, the limit you may contribute to a regular IRA has been $5,000. However, if you will be 50 or older by the end of the year, you can contribute an extra $1,000, for a $6,000 total contribution limit.
Traditional/Rollover IRA:
These IRA contributions are generally tax deductible, creating an opportunity for you to save for your future. You also benefit today, by saving on taxes that you might otherwise pay. Plus, your earnings grow tax deferred.
The eligibility requirements for a Traditional IRA are:
- The individual must be under the age of 70½
- The individual must have earned compensation
Roth IRA:
The Roth IRA can help first-time home buyers save for a down payment. Contributions to a Roth IRA are not tax deductible, but withdrawals are generally tax free, if:
- You don't begin withdrawals until at least five years after you establish the IRA, and
- You are at least age 59½, or use the funds for a first-time home purchase. (Withdrawals for this purpose are limited to a lifetime cap of $10,000).
- Withdrawals made prior to age 59½ may be subject to a 10% IRS early withdrawal penalty in addition to ordinary income taxes. The IRS 10% penalty does not apply if the equal periodic payments are taken over life expectancy, for at least five years, or upon attainment of age 59½, whichever is later, if the withdrawal is used for a first-time home purchase (lifetime of $10,000 per individual), qualified higher education expenses, certain medical expenses and certain other uses, or in the event of disability or death.
For further information on tax deductions, consult your tax accountant.