Savings & Time Deposit Solutions:
Preparing for the future.
Both
small and large investors can take advantage of Trustmark's
savings plans. Depositors are insured for up to the legal
limit by the FDIC. Our customer service representatives
can provide details on any fees or service charges that
apply.
Daily
Interest Savings – An all-purpose savings account providing easy access
to funds. Minimum opening balance: $100; $5.00 monthly service
charge waived if balance stays above $500; interest is accrued
on daily collected balance of $25 or more, compounded daily
and credited quarterly; 2 free withdrawals per month; $2.00
per withdrawal over 2 per month including ATM transactions;
may be used as collateral for a loan (up to the amount on
deposit) or as overdraft protection on the Umbrella
checking account; no fee for Trustmark Express ATM card;
no interest penalty for closing account; quarterly statement. There is a regulatory limit of six (6) preauthorized transfers per month with no more than three (3) by paper draft to a third party.
Froogle
Savings – A savings account
for those under 18; minimum opening deposit: $50; $4 monthly
service charge waived if the minimum balance is $5 or more;
interest is accrued on daily collected balance of $25 or
more, compounded daily and credited quarterly; 5 free withdrawals
per month; $2.00 per withdrawal over 5 per month including
ATM transactions; no fee for Trustmark Express ATM card;
quarterly statement. There is a regulatory limit of six (6) preauthorized transfers per month with no more than three (3) by paper draft to a third party.
Christmas
Club - This
interest-bearing account allows customers a convenient way
to save monthly for the holiday season. The balance is transferred
at maturity to the original Trustmark checking or savings
account. Minimum opening balance: $0
- interest
is accrued on a daily collected balance of $25 or more,
compounded daily, and credited annually
- no monthly service charge and no minimum balance requirement
- account must be closed to withdraw funds
- quarterly statement
- deposits via automatic transfer from a Trustmark checking
or savings account are required in minimum increments
of $10; transfers are established at account opening for
the initial deposit and can be made with TrustTouchWeb
Money Market – Minimum
opening balance: $1,000; pays interest on minimum balance
of $1,000 at a competitive rate (subject to change daily);
$10.00 service fee waived if balance stays at $1,000 or
above; funds are immediately available; checks payable to
another party and authorized transfers are limited to a
maximum of six, including three third-party checks or drafts
per month; no maintenance fee for Trustmark Express ATM
card; monthly statement; up to 30 deposit
items per month ($.075 charge for each deposit item over
30 per statement period).
HighYield Money Market – Earn the highest rate of return on your money based
on your daily balance. Limited check writing is available.
- Minimum
opening balance: $10,000
- Pays
interest according to balance tier at a competitive rate
(subject to change daily)
- $15.00 monthly service fee waived with minimum daily balance
of $10,000
- Funds
are immediately available
- Regulatory
limit of six (6) transfers per month, with no more than three (3)
by check, paper draft or debit card to a third party
- Up
to 30 deposit items per month ($.075 per item over 30)
- No
maintenance fee for Trustmark Express ATM card
- Monthly
statement.
Time
Deposits – Yielding a better interest rate
than other savings plans, these accounts are recommended
for those who have longer-term goals and little need
for immediate accessibility. They include:
- Certificates
of Deposit – Offer guaranteed interest rates that vary according to length of
maturity. Minimum investment: $1000; maturities range from thirty days to five years. Interest is
calculated on a 365-day basis at a rate determined by the maturity date. Interest may be paid to the
customer or added back to the certificate using varying methods according to the size of the CD and
maturity. CDs can be used as loan collateral, and penalties for early withdrawal vary according to time
remaining to maturity.
- Individual
Retirement Accounts – A
way to save for retirement and enjoy tax benefits.
Trustmark offers several IRAs, including self-directed,
with different funding arrangements. Our service
representatives can provide advice on which is
best for each individual's circumstances, needs
and expectations.
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