Personal Savings Accounts - Harbor Bank of Maryland

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Open Account

Personal Savings

Make your money work as hard as you do.

Our savings and investment opportunities are designed to help your finances grow over time.

Statement Savings Money Market Savings Investment Money Market
Minimum Opening Deposit $100 $2,500 $25,000
Minimum Balance Needed to Obtain Annual Percentage Yield (APY) N/A Requires a daily balance of $2,500 to obtain APY Must maintain a minimum daily balance of $25,000 in the account to obtain the APY
Minimum Daily Balance Needed to Avoid Fees Requires a daily balance of $100 to avoid a monthly fee of $3 Requires a daily balance of $2,500 to avoid a monthly fee of $25 Must maintain a minimum daily balance of $25,000 in the account to avoid a monthly fee of $50
ATM Card Yes No No
Rate Information N/A Interest rate and APY may change Interest will not be compounded and will be credited to your account monthly*
Frequency of Rate Changes N/A At our discretion, the interest rate may change monthly At our discretion, the interest rate may change monthly
Determination of Rate N/A At our discretion, we may change the interest rate on your account. At our discretion, we may change the interest rate on your account.
Compounding and Crediting Frequency N/A Interest will be compounded and will be credited to your account monthly* Interest will be compounded. Interest will be credited to your account every month.
Effect of Closing An Account N/A If you close your account before interest is credited, you will not receive the accrued interest. If you close your account before interest is credited, you will not receive the accrued interest.
Early Withdrawal Penalties N/A N/A N/A
Daily Balance Computation Method N/A We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of Interest on Non-Cash Deposits N/A Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
"Common Features" fee chart applies. N/A Yes Yes
Transaction Limitations/Fees N/A Limit of six (6) transactions from a money market savings account to another account or to third parties (preauthorized, automatic, mobile, or computer) per statement cycle with a per item fee of $10 will be charged for each debit transaction in excess of six items during a statement cycle** Limit of six (6) transactions from an investment money market account to another account or to third parties (preauthorized, automatic, telephone, or computer) per statement cycle with a per item fee of $10 will be charged for each debit transaction in excess of six items during a statement cycle**

*Interest rates may be changed at the bank's discretion, accounts closed before the interest is credited will not receive the accrued interest, account interest is calculated using the daily balance method (daily periodic rate to the daily principal in the account), interest accrues business day of reception of credit for noncash item deposits (items such as checks).
**Repeated violations of these limitations will result in the closing of the account.

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Certificates of Deposit

  • Flexible terms ranging from 7 days to 10 years 
  • Fixed rate of return that is typically higher with longer terms 
  • FDIC insured up to $250,000 
  • CDs over $250,000 are CDARS

Current Rates

Certificates of Deposit

Rates Available Through 11/30/2024

Interest Rate Annual Percentage Yield (APY) Minimum Balance
07 - 31 Days 0.03% 0.03% $2,500
32 days to 5 Months 0.25% 0.25% $500
06 - 11 Months 0.25% 0.25% $500
12 - 17 Months 0.75% 0.75% $500
18 - 23 Months 0.75% 0.75% $500
24 - 29 Months 1.00% 1.01% $100
**24 - 29 Months Promotional Rate** 3.00% 3.05% $1,000
30 - 35 Months 0.75% 0.75% $100
36 - 41 Months 0.50% 0.50% $100
42 - 59 Months 0.60% 0.60% $100
60 - 120 Months 0.75% 0.75% $100

A penalty may be imposed for withdrawals processed prior to maturity. 
*Promotional rate for limited time. New money only.
Member Federal Deposit Insurance Corporation.
Each depositor is insured up to $250,000.00.

Investment Money Market

Fixed Rates Available Through 11/30/2024

Interest Rate Annual Percentage Yield (APY) Minimum Balance to Obtain APY
Investment Money Market Account - Tier I 0.25% 0.25% $2,500
Investment Money Market Account - Tier II 0.30% 0.30% $25,000
Investment Money Market Account - Tier III 0.50% 0.50% $50,000
Money Market - Tier I 0.20% 0.20% $2,500
Money Market - Tier II 0.25% 0.25% $15,000

Fees imposed may reduce earnings.
Accounts closed within 90 days of opening will be charged $15.00.
Member of the Federal Deposit Insurance Corporation.
Each Depositor is Insured up to $250,000.00.

Other Accounts

Rates Available Through 11/30/2024

Interest Rate Annual Percentage Yield (APY) Minimum Balance to Obtain APY
NOW Account 0.05% 0.05% $1,000
Gold Plus 55+ 0.05% 0.05% $1,000
Personal/ Business Statement Savings 0.10% 0.10% $1,000

Fees imposed may reduce earnings
Account closed within 90 days of opening will be charged $15.00.
Member of the Federal Deposit Insurance Corporation.
Each Depositor is Insured up to $250,000.00.

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