Available to customers enrolled in Online Banking & accepting Electronic Statements and Communications. This account offers one variable interest rate. There are monthly limitations on the number of some types of transfers. You receive one free money order or treasurer’s check per day with your withdrawal.
No Monthly Fee |
| Available to customers enrolled in Online Banking & accepting Electronic Statements and Communications. This account has four interest rate tiers. There is a $ .50 fee per withdrawal (assessed automatically at month end).
No Monthly Fee
| $0 - $1,500 |
Variable |
| 1,501 – 5,000 |
Variable |
| 5,001 – 20,000 |
Variable |
| 20,001 – Over |
Variable |
Tiering on Savings Accounts: All interest rates are variable and each rate applies to the dollars in that tier. If your account is over $20,000, you could be receiving 4 different rates at the same time. |
| Available to customers enrolled in Online Banking & accepting Electronic Statements and Communications. Savings Bank of Maine’s All Purpose Clubs run for 52 weeks. They can be opened in varying amounts beginning at $10.00 weekly or for smaller amounts if you have the funds directly transferred to your club from another account. These accounts earn a variable interest rate with no compounding. No interest is paid if the club is closed early. |
Health Savings Accounts were created by the Medicare Prescription Drug and Modernization Act of 2003, passed by President Bush and effective 01/01/04. If you have a high deductiable health plan and meet other eleigibility requirements, SBM offers a free HSA account with easy debit card access to your funds.
- Online Banking customers can receive monthly statements online
- No minimum to open
- No monthly maintenance fee
- No activity fee
- Distributions are tax-free if used for qualified medical expenses
- Interest is paid at a variable-tiered rate on the average daily collected balance
- Contributions are tax-deductible
- You have until April 15 to open and fund an HSA for the prior tax year
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