Smart Saver
- Summary
This free savings account is paired with a Bank of Fayetteville Smart Checking account to bring interest earnings that soar above the national average to every penny you put in the bank.
You'll reap the rewards of 1.31% APY* while enjoying the benefits of hassle-free banking: no minimum balances and no monthly service charge.
- 1.31% APY* on balances up to $50,000
- 0.40% APY* on portion of balance above $50,000
- Linked to Smart Checking Account
- No minimum balance
- Interest is accrued daily, credited monthly
- Free e-Banking services
- Free e-Statements
- FDIC insured
- Minimum deposit to open is $100 (no minimum thereafter)
*APY = Annual Percentage Yield
- Qualifications
There are no minimum balance requirements, but you do have to have an existing (or open a new) Smart Checking account with The Bank of Fayetteville.
It's simple to receive the higher interest rate, just meet the 3 easy qualifications on your Smart Checking account.
- Make 10 check card purchases each month
- Transact one direct deposit or ACH auto debit
- Sign up for and receive eStatements
You only have to meet the qualifications once per cycle. Qualifying for the Smart Checking features automatically qualifies you for Smart Saver. Learn more about Smart Checking here.
If you do not meet the qualifications one cycle, your Smart Saver account is still free and earns 0.15% APY* on the entire balance.
- More Info
Annual Percentage Yield (APY) accurate as of 10/01/09. Rate tiers are as follows: 1.31% APY applies to balances of $.01 - $50,000 and 0.40% APY applies to balances over $50,000 as long as qualifications are met each interest cycle. 0.15% APY applies to all balances if qualifications are not met. All balances will earn 1.31% APY to 0.40% APY as long as qualifications are met. Rates may change after the account is opened. Fees may reduce earnings.
