Personal

The Bank of Prescott offers a wide variety of deposit products, all of which are insured by the Federal Deposit Insurance Corporation (FDIC). For more information about insured deposits, coverage amounts, etc. click the logo below. Also, please feel free to call one of the knowledgeable employees of the Bank of Prescott.

Accounts

Min. Opening BalanceAccount Details
Regular Checking Account

A non-interest bearing checking account.

$250

  • A monthly service charge fee of $7.50 is imposed if the average daily balance¹ during the statement cycle falls below $750.00.
Direct62 Checking Account

A non-interest bearing checking account for our senior citizens.

$250

  • For senior citizens 62 years of age or older who have a government reoccurring direct deposit.
  • A monthly service charge fee of $3.75 is imposed if the average daily balance¹ during the statement cycle falls below $750.00.
Freedom Checking Account

A non-interest bearing checking account.

$250

  • A monthly service charge fee of $5.00 is imposed if the average daily balance¹ during the statement cycle falls below $500.00.
  • Account holders of FREEDOM CHECKING do not receive images of their checks with their monthly statement. Images are retained by the bank and are available for a fee of $1 each.
NOW Account

An interest-bearing checking account.

$500

  • A monthly service charge fee of $12.50 is imposed if the average daily balance¹ during the statement cycle falls below $750.00.
  • The current interest rate and annual percentage yield are listed on the Rate Sheet. At the bank's discretion, the interest rate on this account can be changed at any time.
Super NOW Account

An interest-bearing checking account.

$1,500

  • A monthly service charge fee of $15.00 is imposed if the average daily balance¹ during the statement cycle falls below $1,500.00.
  • The current interest rate and annual percentage yield are listed on the Rate Sheet. At the bank's discretion, the interest rate on this account can be changed at any time.
Money Market Deposit Account

An interest-bearing demand account.

$1,500

  • A monthly service charge fee of $15.00 is imposed if the average daily balance¹ during the statement cycle falls below $1,500.00.
  • The current interest rate and annual percentage yield are listed on the Rate Sheet. At the bank's discretion, the interest rate on this account can be changed at any time.
  • There are governmental restrictions as to the number of checks that can be drawn against this type of account during each monthly cycle. Check with New Accounts for details of this restriction.
Statement Savings Account

An interest-bearing savings account.

$250

  • The current interest rate and annual percentage yield are listed on the Rate Sheet. At the bank's discretion, the interest rate on this account can be changed at any time.
  • There will be a $2.00 fee per withdrawal in excess of three withdrawals per quarter.
Christmas Club Account

A non-interest bearing savings account.

$5

  • Withdrawals are permitted on the Club payout date only. Account holders will automatically receive the account balance on that date.
Individual Retirement Account

N/A

  • Deposits for Individual Retirement Accounts (IRAs) can be put in a Statement Savings Account (Variable rate IRA) or any Certificate of Deposit.
  • The current interest rate and annual percentage yield for any IRA are listed on the Rate Sheet.
Certificate of Deposit

Time Deposits from 30 days through 5 years.

$1,000

  • The interest on any CD of one year or more may be added back (compounded) to the principal of the CD.
  • Interest may be paid to the account holder by separate check or automatically deposited in another Bank of Prescott account.
  • Interest may be paid or credited as frequently as monthly. For additional details, including a penalty for early withdrawal, contact the CD Department.

¹Many financial institutions impose a monthly service charge fee based on the minimum monthly cycle balance. Therefore, your account balance could drop below this minimum balance by a small amount, and for only a short period of time, thus causing a monthly service charge fee when the average balance of your account was higher. The Bank of Prescott strongly feels that you should not be penalized just because your account balance was below a certain amount by a small amount and for a short period of time.

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