The PrivateBank

The PrivateBank helps you save for the future with competitive rates. Choose the savings option that works best for your resources, goals and timing.

We have accounts suitable for:

Short-term saving - traditional savings accounts, best for emergency reserves or for building up funds for an upcoming planned expense
Mid-term saving - money markets and CDs, often used to save for major planned purchases, such as college tuition
Long-term saving - IRA accounts to save for your retirement

Short-term saving

Earn interest while knowing you have easy access to your cash if you need it.

The Piedmont Savings account offers interest compounded daily and credited monthly with the following stipulations:

$100 minimum opening deposit
$3 maintenance fee waived if average daily balance of $100 or greater
Three withdrawals per month allowed at no charge; $3 fee per additional withdrawal, no more than six per statement cycle
Interest compounded daily and credited monthly
No minimum balance required to earn interest
Free online account access

The Piedmont Prestige Savings account offers a higher rate than the Piedmont Savings account with the following stipulations:

$100 minimum opening deposit
$10 maintenance fee waived if average daily balance of $2,000 or greater
Three withdrawals per month allowed at no charge; $3 fee per additional withdrawal, no more than six per statement cycle
Interest compounded daily and credited monthly
No minimum balance required to earn interest
Free online account access

Mid-term saving

If you have more money to invest and more time to let it sit, you can earn better rates with a Piedmont money market or CD.

	Piedmont Prime Money Market	Certificates of Deposit (CDs)
Minimum opening deposit	$1,000	$1,000
Maintenance fee	$25 / month Waived if average daily balance is $10,000 or more	None
Withdrawals allowed	Three withdrawals per month free; $5.00 per additional withdrawal, no more than six per statement cycle	Substantial penalty for early withdrawal
Interest	Compounded daily and credited monthly; rate variable based on 60% of current Wall Street Journal Prime Rate	Compounded daily and paid monthly; may be credited to the CD or paid by check
Maturities	N/A	Three months to 60 months; automatic renewal option available
Online account access to: view account balance transfer funds between accounts place stop payments order checks view cancelled checks	Yes	Yes (view account balance only)

The PrivateBank also offers money markets and CDs for businesses.

*Federal regulations allow no more than six (6) debit transactions in a monthly statement cycle. Of these six (6) transactions, no more than three (3) can be checks, debit card transactions, transfers or preauthorized transfers, including those made by phone, PC banking payments or internet (including bill payments). Unlimited transactions are permitted if made by the customer in person, by mail, at the ATM, or by telephone when a check is mailed directly to the customer.

Long-term savings

Individual Retirement Accounts (IRAs) let you save for your retirement and take advantage of tax-deferred earnings as well as possible yearly deductions.

The PrivateBank IRA CDs offer:

Minimum opening deposit of $1,000
Maturities ranging from 3 to 60 months*, with automatic renewal available
Competitive interest rates, compounded daily and credited monthly
No maintenance fee

* Special rules and penalties for IRA withdrawals apply. Withdrawals from IRAs before age 59 1/2 may be subject to a 10% federal tax and possible state tax.

See deposit account agreement and deposit accounts fee schedule for additional fees and conditions