Save for the holiday season all year long.
Minimum Deposit to Open: You can open your Christmas Club Account November 4, 2019 through January 31, 2020. The minimum deposit to open and obtain APY1 is $5.00. Pick your plan: open with $5.00, $10.00, $20.00 or $30.00 and continue to make deposits in that same amount weekly.
APY1: The Account pays 3.5% APY1, with an interest rate of 3.5%.
Crediting: We use the Daily Balance Method to calculate the interest on your account. Interest is compounded annually, and credited at the end of the term. A check representing the balance of the account plus interest will be issued approximately one (1) week after the end of the term. Payments of Christmas Club funds will be by check. No more than five (5) payments in a thirty (30) day period are allowed. Maximum amount of Christmas Club Accounts per household is $3,000. That is the equivalent of two $30 clubs or any combination of clubs that would equal $3,000 at the 50th payment.
Term: The maturity date of this club is October 18, 2020. No payments will be accepted after October 17, 2020. Contact a bank representative for additional Rules and Conditions.
Early Withdrawal: No early withdrawals are permitted.
Coupon Book: Deposits should be accompanied by a coupon from the book provided once the account is open. If a book is lost, the balance may be transferred to a new Best of Hometown Bank Christmas Club Account and a fee of $5 will be assessed for the new book.
1 Annual Percentage Yield