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Young Savers |
Meridian Savings |
High Yield Money Market |
Certificate of Deposit (CDs)* |
| Description |
Convenient savings account for youths to learn the value of savings. |
Traditional account with a competitive interest rate. |
Check writing capabilities while earning high yield rates. |
Earn a guaranteed return for the term that meets your needs. |
| Recommended for |
Young savers wishing to learn the benefits of earning interest. |
Those wishing to set aside funds and earn interest without high balance requirements. |
Those wanting competitive rates and easy access without a fixed term. |
Those wishing to lock in competitive rates without risk to their investment. |
| Deposits and withdrawals |
$1 minimum to open
Two withdrawals allowed per month- additional withdrawals $2 each†
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$100 minimum to open
Two withdrawals allowed per month- additional withdrawals $2 each†
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$1,000 minimum to open
Six withdrawals allowed per month-additional withdrawals $10 each†
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$1,000 minimum to open
Withdrawals only permitted at maturity without substantial penalty |
| Interest |
Calculated and paid at statement cycle on all balances.
Click here for
current rates & tiers |
Calculated and paid at statement cycle on balances over $100.
Click here for
current rates & tiers |
Yes, balance tiers reward higher balances with higher rates.
Click here for
current rates & tiers |
Yes, competitive rate paid for specified terms.
Click here for
current rates & tiers |
| Account Features and Benefits |
| Free 24-hour Meridian Bank Texas bank-by-phone |
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| Free online banking |
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| Free online statements |
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| Free money orders |
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| Free money market checks |
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| Balance Requirements and Other Fees |
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The monthly maintenance fee is waived until the age of 18. Then the account will automatically be converted to a Meridian Savings account. |
We will waive your $5 monthly maintenance fee with a minimum daily balance of $100 or a combined balance‡ of $2,500.
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We will waive your $20 monthly maintenance fee with a minimum daily balance of $5,000, or an average daily balance of $10,000, or a combined balance‡ of $20,000. |
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* A penalty may be imposed for early withdrawal.
†Federal regulations limit the number of withdrawals allowed. You may make a total of six transfers from your account each four weeks or similar period when completed via a check, online banking payments, automatic drafts, debit card purchases, pre-authorized transfers (including overdraft transfers), and online or telephone transfers. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited for regulatory purposes. Please see TISA disclosure for additional information.
‡The combined balance option requires that you notify the bank of the personal accounts you wish to link in order to avoid the monthly maintenance fee. These Meridian Bank Texas accounts include checking, savings, CD, or IRAs. |