Checking Accounts
You can get a checking account just about anywhere these days. But at Bank of the Lowcountry, we have a variety of accounts to help you meet your cash management needs. From a no minimum balance/no service charge accounts, to a Seniors account that pays competitive rates, to our money market account that offers a premium rate…Bank of the Lowcountry can tailor an account to suit your needs!
Personal Checking
Overview
Includes Student Checking for 15+
$50 minimum opening deposit
No minimum balance
No interest
Student Checking issued lower limit debit card
Perfect For:
Managing your cash easily and effectively
Lowcountry Checking
Overview
$50 minimum opening deposit
NO service charge with average daily balance of $2,500 or loan balance of $25,000 ($12/month service charge if balance falls below minimum)
Earns interest
Free basic checks
Five free cashier’s checks/month
Five foreign ATM fees waived/month
Perfect For:
Valuable services and features to help you manage your money, including the ability to earn interest on your balance.
Pelican Checking (55+)
Overview
$50 minimum opening deposit
NO minimum balances
NO service charges
Tiered interest based on balance
Free standard checks
Five free cashier’s checks per month
Perfect For:
No nonsense account for those 55 years and up.
Personal Money Market
Overview
$1,000 minimum opening deposit
Tiered interest based on balance (standard interest rate paid if balance falls below $1,000)
$5 service charge
Limit of six transfers, checks, or ACH transactions per statement cycle
Unlimited teller withdrawals
$5 charge for each third-party transaction over limit
Perfect For:
Earning interest like a savings account plus debit card and check transaction availability.
Savings Accounts
Any day is a good day to start saving for a sound future. At Bank of the Lowcountry, we make it easy to reach your long or short-term savings goals.
Personal Savings
Overview
Includes Student Savings for 15+
$50 minimum opening deposit/$25 for Junior Savings
Standard interest rate paid
Interest earned daily, paid quarterly
Limit of 6 transfers/withdrawals per month (after three withdrawals/quarter, $1/withdrawal fee will be imposed)
$3 charge/quarter if minimum balance falls below $50 (no charge on Junior Savings)
Perfect For:
A simple and easy way to save.
Christmas Clubs
Overview
50-week club
Starts 2nd week of November and runs through 3rd week of October
Deposits can be made as often as you like
Standard interest earned
$5 early close out penalty and forfeiture of all interest
Perfect For:
Leave the stress out of saving for the holidays.
CDs and IRAs
When it comes to saving money for the future, you are looking for a safe place and competitive interest. At Bank of the Lowcountry, we offer a range of Certificates of Deposits to meet your needs. Individual Retirement Accounts are available for individuals to set aside funds for retirement and take advantage of tax deferred or tax-free interest income. Bank of the Lowcountry can get you headed in the right direction.
Certificates of Deposit
Overview
7-364 Days Maturity = Minimum Deposit of $1,000
12-48 Months Maturity = Minimum Deposit of $500
Interest may be deposited into a separate Bank of the Lowcountry account
Maturity notices are mailed 10 days prior to maturity
Automatically renews after 10-day grace period
Perfect For:
Put your money away and get a fixed return!
Important:
Early withdrawal will result in forfeiture of three months interest, whether earned or not, on certificates with maturities exceeding 12 months. A forfeiture of one month’s interest is charged on CDs with maturities of less than 12 months.
Traditional IRA
Overview
$500 minimum deposit on our fixed rate 18- or 36-month term IRA
$25 initial minimum deposit on 18- or 36-month variable rate IRA, and you can make additional deposits
Automatically renews after 10-day grace period
No administration fees
Consult your tax advisor for details relevant to your specific needs.
Perfect For:
Accumulate tax-advantaged deposits and earnings for your retirement.
Important:
The 10% early withdrawal penalty does not apply to distributions of up to $10,000 for first-time home buyer expenses or for qualified educational expenses. Early withdrawal forfeits three months' interest. No forfeiture of interest for IRA holders 59½ and older.
Roth IRA
Overview
You can contribute to a Roth IRA if:
You have earned income (or your spouse has earned income) AND
Your modified adjusted gross income (MAGI) cannot exceed certain limits
Consult your tax advisor for details relevant to your specific needs.
Perfect For:
Flexibility including the option of contributing even after you retire and keeping it open for as long as you live.
You do not pay taxes on your earnings if they are part of a qualified distribution. A qualified distribution includes participation in a Roth IRA for over five years and distributions.
After age 59 1/2
To beneficiaries upon death
Due to disability or
For qualified first-time home buyers (up to $10,000)
DEBIT CARDS
Bank and shop anywhere with the Bank of the Lowcountry’s MasterMoney Check Card.
No annual fees
No transaction fees (use of a non-Bank of the Lowcountry ATM could result in a fee)
Withdraw up to $300 cash/day at ATMs and make purchases up to $1,200/day
Make purchases 24/7 at over 20 million Mastercard merchants
Instant issue when you open a checking account (some restrictions may apply)
CREDIT CARDS
A credit card with no annual fee! Bank of the Lowcountry offers several card choices, so we know we have the right one for you.
No annual fee
25-day grace period for repayment of balances for purchases
