Multiple Ways to Save for Tomorrow

Emergency fund, vacation, college, retirement, or just saving for that special thing you’ve been wanting; whatever your reason to save some for later, it is a wise decision. There are many reasons people save. No matter what you’re saving for, we’re here to help keep your money safe and secure until you’re ready to use it. The Callaway Bank provides several options to put some money away depending on your needs.

Personal Savings Account: Having a specific account in which you can deposit funds for your future needs helps make savings easy! You can even set up auto-transfer to your Personal Savings Account – monthly or every payday! You choose how often and how much.

Easy Save Savings Account comes with a more competitive interest rate than other savings accounts and requires an auto-transfer of a minimum of $10 per month from your Callaway Bank checking account into your Easy Save Savings Account.

Money Market Account

A Money Market Account is similar to a savings account but with a little more flexibility. Money Market Accounts for business and personal savings needs typically earn more interest than Savings Accounts and funds can be used from the account. These accounts typically require a larger deposit amount to open that other types of savings solutions.

Our Advantage Money Market Account is an outstanding option for emergency funds. They allow you to keep a larger amount set aside, but it is quickly available when needed. 

CDs (Certificate of Deposit)

CDs are another savings option that can help you earn more in interest than a typical savings account. There are various types of CDs, but in general, the way a CD works is a person agrees to deposit an amount of money for a specific amount of time. An example would be you could open a CD for $5,000 for a 12-month term. Because you agree to keep in the bank for that period the bank agrees to pay you a higher interest rate.

Long and short-term CDs both earn a higher rate than a typical savings account. Maximize earnings by combining your choice of time commitment (long or short-term) and deposit amount. And, with our Add On-CDs add funds to your CD during its term to help you reach your savings and financial goals even faster.

For Your Community CD Specials offer a premium rate for a limited time.

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