Forward Savings

Free Forward Savings helps you put money away for a rainy day. Forward Savings is linked to your Forward Checking account, so your interest and ATM fee refunds** from Forward Checking can grow.

Summary

  • Earn 1.01% APY*
  • 0.05% APY* if qualifications aren't met
  • Build savings automatically
  • No minimum balance required to earn rewards
  • No monthly service fee
  • Free online banking with bill pay
  • Free e-Statements
  • Direct deposit available
  • FDIC insured

Qualifications:

Open Forward Savings alongside your Forward Checking account with no additional qualifications. Just complete these transactions and activities in the Forward Checking account each monthly qualification cycle to make sure you make the most of your money:


  • Have at least 10 debit card purchases post and settle
  • Have at least 1 automatic payment or direct deposit post and settle
  • Be enrolled and receive eStatement notices

There's no penalty for not qualifying in a given monthly qualification cycle and the accounts are still free. Balances in the Forward Savings account receive an APY of 1.01% if required qualifications in the Forward Checking account are met each monthly qualification cycle. If qualifications in the Forward Checking are not met, the APY will be 0.05% on all balances in the Forward Savings account.

Disclaimer:

 

*Annual Percentage Yield (APY) accurate as of 04/01/2018. Minimum to open the Forward Savings account is $1.  Forward Savings rate tiers are as follows: 1.01% APY applies to all balances if qualifications are met each monthly qualification cycle in the Forward Checking. 0.05% APY applies to all balances if monthly qualifications are not met in the Forward Checking. Monthly Qualification cycle means a period beginning one day prior to the first day of the current statement cycle through one day prior to the close of the current statement cycle.

The interest will compound on your Forward Savings account on a monthly basis. The interest earned & ATM fees reimbursed from the Forward Checking account transfers to the Forward Savings account, whether the qualifications are met or not. The Forward Checking APY is based on compounding interest. Please be aware that the interest earned in the Forward Checking is automatically transferred to the Forward Savings each statement cycle and does not compound. This will result in a blended rate of .89% to 1.01% if qualifications are met and a rate of .05% when qualifications are not met.

 

The interest rate and annual percentage yield may change without notice after the account is opened.  Fees may reduce earnings. Qualifying transactions must post and settle to the Forward Checking account during the monthly qualification cycle. Intra-bank transfers and ATM transactions do not count as qualifying transactions. Transactions may take one or more banking days from the date the transaction was made to post and settle to an account. **Domestic ATM Fee reimbursements up to $20 ($2 per single transaction) provided if qualifications are met within the monthly qualification cycle. Limit one Forward Checking and Forward Savings account per Social Security Number.

Statement Savings Account

Did you know Americans only save around 2% of their income? Don't be part of that statistic—start saving with an account designed for exactly that. It's a great way to help you budget for future purchases or just set aside funds for "that rainy day."

Summary

  • Interest bearing account
  • $2 service charge if balance falls below $100*
  • Free ATM card
  • Free online banking with bill pay
  • Free e-Statements
  • Direct deposit available
  • FDIC insured

*Service charge is waived for senior citizens and non-profit organizations

Certificates of Deposit (CDs)

For customers who have the flexibility to invest funds for a set period of time, a CD offers a fixed rate of return with no risk. Just choose the term, then sit back and let it do the work, giving you a healthy return on your investment!

Summary

  • Fixed rates
  • Terms from 3 Months to 60 Months
  • May be used as loan collateral
  • FDIC insured
  • Monthly interest can be compounded or sent to you

Money Market Savings Account

Get the most bang for your buck with a PSB Money Market account. If you regularly maintain a higher balance, you can take advantage of better interest rates.

Summary

Ricki Kids Savings Club

Start teaching good financial habits to the Forward Thinkers of tomorrow.

Saving is an important responsibility that children should learn early. But that doesn't mean it can't be fun! The Ricki Club makes learning how to save money an exciting game and fun adventure!

Summary

  • For ages 12 and under
  • Interest bearing account
  • No minimum opening deposit
  • Get $5 credited to account at opening
  • Get $5 coupon to deposit each year as a birthday gift

Christmas Savings Account

The holiday season can be taxing on anyone's pocketbook. Start planning ahead and invest in a Christmas Savings account where you can earn interest so when it's time to start buying gifts, you have something set aside to make it easy.

Summary

  • Save for holiday spending
  • Interest bearing account
  • No service charges
  • No minimum opening deposit
  • Balance sent to you November 1st
  • Maximum balance of $10,000
  • FDIC insured

Health Savings Account (HSA)

Save now for future health expenses with a PSB Health Savings Account. This is a great way to set aside funds and earn interest tax-free. When you need them, you can use it to pay qualifying expenses tax-free too!

An HSA is ideal for anyone with a high deductible health insurance plan.

Summary

  • Save for future medical expenses
  • Interest bearing account
  • Balance grows tax-free
  • Use funds on qualifying expenses
  • Easy access to funds
  • No "use it or lose it" rule
  • FDIC insured

Individual Retirement Account (IRA)

When it comes to planning for the future, there's no time like the present. Start building toward a better tomorrow by opening an IRA today.

Our financial advisors can help customize a plan that fits your needs so you can relax knowing your future looks bright.

Summary

  • Plan for the future
  • Favorable rates
  • Short and long-term plans
  • Traditional and Roth available
  • FDIC insured
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