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Personal Accounts

Below is a list of our Personal Accounts.

Personal Accounts

We offer personal accounts to fit any need… but more than an account, we offer you a banking relationship that strives to understand and serve your personal financial needs. The following is a list of some of the personal banking accounts that we offer. Please contact us at the bank if you need further assistance.

 

Personal Checking

REQUIREMENTS

  • $200 minimum to open

BENEFITS

  • Free online banking
  • Free ATM withdrawals at our ATM
  • Service charge fee waived for customers 62 years of age or older, full time students and active military personnel

COSTS

  • $10 monthly service charge
  • With a minimum daily balance of $500, we will waive the $10.00 monthly service charge
  • $1.50 Visa Debit Card monthly fee
NOW Account

REQUIREMENTS

  • $1,500 minimum to open
  • Limited to 20 checks per monthly statement cycle

BENEFITS

  • Free online banking
  • Free ATM withdrawals at our ATM
  • Earn interest on checking accounts – Compounded and paid monthly on daily balance

COSTS

  • $10 monthly service charge
  • With a minimum daily balance of $1,500, we will waive the $10.00 monthly service charge fee
  • If your daily balance is $500 but less than $1,000 monthly service charge fee $7.50
  • If your daily balance is $1,000 but less than $1,500 monthly service charge fee $5
  • Excess check charge fee – $.20 per check for every check over 20 during statement cycle
  • Contact us for current Rates and APY
Personal Savings

REQUIREMENTS

  • $100 minimum to open
  • Limit of 2 withdrawals per month

BENEFITS

  • Free online banking
  • Free ATM withdrawals at our ATM
  • Quarterly statement (unless there are electronic transfers, in which case you will receive a monthly statement)
  • Compounded and paid quarterly cycle on Daily Balance

COSTS

  • $1 monthly service charge
  • With a minimum daily balance of $100, we will waive the $1 monthly service charge
  • Item fee of $1.00 for each debit transaction more than two (2) per month applies
  • Contact us for current Rates and APY
Money Market Fund

REQUIREMENTS

  • $2,500 minimum to open
  • Limited 6 withdrawals per monthly cycle.

BENEFITS

  • Free online banking
  • Free ATM withdrawals at our ATM
  • Earn interest on checking accounts – Compounded and paid monthly on daily balance

COSTS

  • $7.50 monthly service charge
  • With a minimum daily balance of $2,500, we will waive the $7.50 monthly service charge fee
  • $1.50 Visa Debit Card monthly fee
  • Excessive Debit Fee – $1.00 for each in excess of 6 per monthly cycle.
  • Contact us for current Rates and APY
Certificates of Deposit (CDs)

Lovelady State Bank offers a variety of secure Certificates of Deposit accounts to fit your individual needs. Certificates of Deposits are offered in terms form 3 months to 5 years. Our CD’s earn competitive interest rates and are FDIC insured. Contact Lovelady State Bank for current rate information.

REQUIREMENTS

  • $1,000 minimum opening deposit
  • Penalty for early withdrawal
Individual Retirement Accounts (IRAs)

REQUIREMENTS

  • $1,000 minimum opening deposit
  • Penalty for early withdrawal
  • Fixed rate