Personal Savings
Morgantown Bank & Trust offers a variety of savings account options. Enjoy convenient account access with FREE Online Banking and FREE 24-Hour Telephone Banking. Our friendly Customer Service Representatives will assist you in selecting the best account to suit your needs.
STATEMENT SAVINGS
A convenient and accessible way to save money, our statement savings works well on its own or linked to your Morgantown Bank & Trust Bank ATM card or VISA® Debit card*.
- $50.00 Minimum Opening Balance
- There is no Service Charge for 0-9 withdrawals per quarter. After 9 withdrawals per calender quarter there is a $3.00 charge per withdrawal.
- Maintain only $50.00 daily balance to earn interest
- FREE Online Banking
- FREE 24-Hour Telephone Banking
- Interest paid quarterly
- Quarterly Statements
*VISA® Debit card available only when combined with an eligible Checking Account.
CHRISTMAS CLUB ACCOUNT
This is an easy way to save for Christmas!
- Account openings restricted to October 15 - December 31
- The minimum amount you may deposit is $3.00
- Christmas Club accounts that make all weekly scheduled payments will have their last payment made by the bank which is considered a bonus.
- All Christmas Club payments are automatically deducted weekly from customer's checking accounts
- Disbursements of the Christmas Club account is automatically deposited to a customer's checking or savings account the first week in October of each calendar year
- Early closing of the account will result in a $10.00 fee
CERTIFICATES OF DEPOSIT
Your Morgantown Bank & Trust Certificate of Deposit offers a guaranteed, higher interest rate with terms from 14 days to 5 years. The interest rate and annual percentage yield will not change for the term of the account.
- If you're looking for a safe place to keep your money and at very competitive rates, then a Morgantown Bank & Trust CD is the investment instrument for you. We offer a wide range of certificates of deposit with terms from three months to five years.
- Interest may be paid by check, transferred to Morgantown Bank & Trust checking or savings account or added back to the principal of the certificate
- Interest may be paid monthly, quarterly, semi-annually or annually
- Withdrawal of funds prior to maturity incurs a penalty
- For CDs with a term of 1 year or less – forfeiture of one month’s interest
- For CDs with a term of over 1 year - forfeiture of three months interest
- For 54 month special CDs, forfeiture of 6 months interest and these CDs are non-renewable
- For 60 month special CDs, forteiture of 6 months interest
- Grace period of 10 calendar days granted to account holder after maturity
Click here to see today's CD rates
INDIVIDUAL RETIREMENT ACCOUNTS
Fixed Rate IRA
- Minimum opening renewal deposits of $500
- Interest accrues daily and reinvested into the account semi-annually
- Substantial penalty for early withdrawal before maturity if under age 59 ½
Variable Rate IRA
- Minimum opening renewal deposits of $50
- Interest is accrued daily and reinvested into the account quarterly
- Interest is subject to change without prior notice
- Deposits may be made during the term of the time deposit
- Substantial penalty for early withdrawal before maturity if under age 59 ½