Savings / CDs / Investments

• Savings Accounts
• Piggyback Savings
• Youth Savings
• Certificates of Deposit
• Money Market Account
• Retirement Accounts
• Platinum Status

What could be more rewarding than having your money work for you ... rather than you working for money? When you open a Southern Heritage Bank savings or investment account, you can put our experience to work for you. Plus, you can take comfort in knowing your hard-earned money is safe because each depositor is FDIC insured up to $100,000.

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Savings Accounts

Whether you are just starting to save, or simply want to earn interest on your money, Southern Heritage Bank has just the account for you.

• Minimum Opening Balance – $100
• 24-Hour Access – Besides making savings account deposits and withdrawals at any Southern Heritage Bank office, you can also make withdrawals, transfer funds and obtain your account balance through our ATMs as well as thousands of other ATMs worldwide that display the Plus and Pulse logos
• Interest Earnings – Compounded quarterly and credited quarterly.
• Withdrawals – Six allowed per quarter at no charge See Fees Page
• Account Statements – Mailed quarterly
• No Monthly Fees – On balances of $100 and above See Fees Page

   

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Piggybank Savings (Age < 18)

Learning to save money is a great habit to start at a young age. Southern Heritage rewards its young customers with money market interest rates to help them get off to a good financial start.

• Minimum Opening Balance – None
• Interest Earnings – Compounded quarterly and credited quarterly
• Withdrawals – Six allowed per quarter at no charge See Fees Page
• Account Statements – Mailed quarterly

   

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Certificates of Deposit

If you want a guaranteed interest rate, you may want to look into a Certificate of Deposit. You can choose among our CDs ranging from 7 days to 60 months. Contact any Southern Heritage Bank office for detailed information on current and special CD rates.

• Minimum Investment – $1,500 for CDs 12 months or longer and $2,500 for CDs less than 12 months
• Interest Rates – Vary according to investment amount and term; rates subject to change weekly, but are fixed during the term of the CD
• Access to Interest Earnings – Receive your interest by check ... monthly, quarterly, semi-annually or annually, as well as by direct deposit into your Southern Heritage Bank checking or savings account
• Renewal – Your CD will be automatically renewed unless you request otherwise
• Withdrawals – A penalty may be imposed for early withdrawals. See Fees Page

   

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Money Market Account

If you want to earn a premium rate of return, yet have complete access to your money, take advantage of this interest-bearing account.

• Minimum Opening Balance – $2,500
• Tiered Interest Earnings – Interest earned on total collected account balance and credited monthly. The Money Market is a tiered rate account that earns higher interest based on higher balances. Interest rates may re-price with market

$0 – $ 2,499	$75,000 - $99,999
$ 2,500 – $14,999	$100,000 - $249,999
$15,000 – $49,999	$250,000 – $499,999
$50,000 – $74,999	$500,000 +

• Access to Funds – You can withdraw your money at any Southern Heritage Bank office anytime. With your Money Market Account, you can also make withdrawals anytime at a Southern Heritage ATM
• Withdrawals – Up to six free transactions are allowed each month, three of which may be by check. See Fees Page
• No Monthly Fees – On balances of $2,500 and above or an average daily balance of $5,000 See Fees Page
• Account Statements – Detailed monthly statements help you quickly reconcile your account balance

   

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Individual Retirement Accounts (IRAs)

Planning for retirement is one of the most important steps you can take toward securing your future. Let Southern Heritage Bank help you establish an IRA, a Roth IRA, SEP, Medical or an Education IRA. Your contributions could lower your current tax bill. Plus, you may be able to capture greater earnings than with a non-retirement account (consult a qualified financial adviser for specific tax details). You can choose among IRA investments ranging from 12 months to 60 months.

• Minimum Opening Balance – $500
• Interest Earnings – Interest is calculated by daily balance method and compounded annually. Earnings are posted to your account quarterly
• Withdrawals – The IRS may impose a penalty for early withdrawals based on your tax status
• Account Statements – Mailed annually

   

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Platinum Status

Being a Platinum customer is the highest level of recognition and reward afforded by Southern Heritage Bank. Platinum status is your ticket to personal attention and exclusive benefits. Awarded based on your banking relationship, it is our way of thanking our most special customers.

To obtain Platinum status simply:

• Maintain a Southern Heritage Bank personal checking account.
• Maintain a minimum combined deposit balance of $30,000 or a minimum combined deposit or loan balance of $75,000
• Maintain your accounts in good standing.

Benefits include:

• Bonus Rates and Special Offers on Deposit Products
• Discounts on Loan Rates, Fees or Closing Costs
• FREE or Discounted Items Such as Checks, Online Banking or Credit Cards
• Recognition Gifts
• Special Offers by Mail ... and More

   

 

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