Savings Accounts

Piedmont Federal offers a variety of flexible savings accounts to fit your needs, along with some of the best rates around.

STATEMENT SAVINGS
A Piedmont Federal Statement Savings account offers you an excellent return with unlimited access to your money. All with no fees, a $100 minimum balance and the convenience of a quarterly statement.

CDs
1-Year/3-Year Flexible CD
A Certificate of Deposit (CD) that guarantees the rate for 3 years but offers the option of annual withdrawal. $50,000 minimum balance.

Jumbo Certificate of Deposit
Offers flexible terms that range from 3 months to 4 years. $100,000 minimum balance. Call for a current quote

3-Month, 6-Month and 9-Month Certificates of Deposit
Earns money-market rates, with short-term maturity. $500 minimum balance.

1-Year, 1 1/2-Year, 2-Year, 2 1/2-Year, 3-Year and 4-Year Certificates of Deposit
Longer terms to meet your savings needs. $500 minimum balance.

An interest penalty will be imposed for early withdrawal.

COVERDELL EDUCATION SAVINGS ACCOUNT (CESA)
Formerly called the Education IRA, this account grows tax free as long as withdrawals go toward educational expenses. $2,000 can be contributed annually for each child into a CESA. Contributors may include corporations as well as individuals. Withdrawals may be used for certain elementary, secondary and post-secondary school expenses, such as tuition, books, computers, supplies, fees and others. Even better, a CESA can be established with as little as $100 and can be opened up until the tax-filing date, excluding extensions. The child must be under age 18 for contributions to be made on their behalf, and there are some limitations on income. Stop by a branch or call for complete details.

HEALTH SAVINGS ACCOUNT (HSA)
A Health Savings Account (HSA) is a tax-exempt account established exclusively for the purpose of paying qualified medical expenses for you, your spouse or your dependent(s). An HSA is established by you in much the same way that you set up an IRA. If you meet the eligibility requirements for an HSA, you, your employer, your family members or other individuals may contribute to your HSA. To meet the requirements, you must be covered by a high-deductible health plan (HDHP), must NOT be covered by another health insurance plan, and NOT enrolled in Medicare. Your contributions are deductible on your federal income tax return. Contributions are NOT deductible if made by your employer. Contributions can be made anytime up to your tax-filing deadline, excluding extensions.


FDIC deposit insurance is now $250,000 per depositor.
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