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.
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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