Savings

Statement Savings

Build your wealth and future with Kingston National Bank!

Kingston National Bank offers a “Statement Savings” account that provides the customer a simple, safe way to manage and save funds. 

• Simplified savings solution
• Contact us for current rates

Account Features:

• $100 minimum to open an account.
• $5.00 service charge if daily balance falls below $100.
• Service charge waived for minors (Ages 0-25) and seniors (55 years old and older).
• $3.00 monthly fee for paper statements.
• In addition, ATM cards, On-line Banking, and eStatements are available for your convenience.
• A balance of $100 is required to earn interest.

Effective November 1, 2020, the number of withdrawals or transfers to another account or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party will increase from six (6) to ten (10) transactions in a four (4) week or similar period.

If there are more than ten (10) of the above transactions in a four (4) week or similar period the following fees will be charged per each item over ten (10):

• Kingston Classic Money Market Account - $5.00 for each item over ten (10).
• Marquee Money Market Account - $5.00 for each item over ten (10).
• Statement Savings Account - $1.00 for each item over ten (10).
• Passbook Savings Account - $1.00 for each item over ten (10).

Withdrawals made in person, by messenger, by mail, or at an ATM are unlimited.

Health Savings Account

HSA is the smart way to invest today in your wellness tomorrow!

An HSA works in conjunction with a high-deductible health insurance plan. When it comes to healthcare, it is always better to have more options. An HSA may grant you a tax advantage* to offset medical expenses. Funds contributed to the account are not subject to income tax and may be used to pay for any qualified out of pocket medical expenses that are not covered by insurance. 

Account Features:

• Must have a high deductible health insurance plan to qualify (HDHP).
• $3.00 monthly service charge.
• HSA debit card included.
• Interest bearing account based on current market rates, featuring a tiered rate.
• Balance carries over from year to year and the account remains with you, regardless of change in coverage or employment.
• HSA funds may be used to pay for medical expenses that include most medical, dental and vision care.
• Tiered interest bearing account on the following balance ranges:
  $1,500.00 – $4,999.99
  $5,000.00 - $9,999.99
  $10,000.00 - Above

Contact a Customer Service Representative for current rates!

*Please consult your tax advisor.

Vacation Club

Relax knowing your vacation is paid for ahead!!

Kingston National Bank offers an annual “Vacation Club Savings” account. Start saving today for that dream vacation to help you relax and leave behind your day-to-day troubles and cares. 

Account Features:

• Just $1.00 to open!
• Starts in June each year and pays out the following June.
• The consumer may choose the amount he/she wants to deposit.
• May make direct transfer deposits from existing KNB account or by voluntary deposit.
• May not make withdrawals from this account

Christmas Club

What a great way to save for the Holidays!!

Kingston National Bank offers an annual “Christmas Club Savings” account. This account allows you to set aside spending money for the holidays – and will have you decking the halls stress free! 

Account Features:

• Just a $1.00 to open!
• Starts in November each year and pays out the following November.
• The consumer may choose the amount he/she wants to deposit.
• May make direct transfer deposits from existing KNB account or by voluntary deposit.
• May not make withdrawals from this account.

Harvest Club

Save for the fall celebrations!!

Kingston National Bank offers an annual “Harvest Club Savings” account. Start saving today for that special fall event like county fairs and the Pumpkin Show!! 

Account Features:

• Just $1.00 to open!
• Starts in October each year and pays out the following October.
• The consumer may choose the amount he/she wants to deposit.
• May make direct transfer deposits from existing KNB account or by voluntary deposit.
• May not make withdrawals from this account.

Certificates of Deposit

If you have your eye on the road ahead, a CD could be a savings strategy for you!

Kingston National Bank provides a wide variety of Certificates of Deposit options for managing and building your short-term and long-term wealth. Certificates of Deposit can be purchased for a variety of terms at competitive rates. 

Account Features:

• $1,000.00 minimum balance to open.
• Competitive Rates.
• Certificates of Deposit are automatically renewable.
• A variety of terms available to meet your investment goals.

Individual Retirement Accounts

Do not wait! Honor all your years of hard work by building your retirement today!

You can have a successful retirement fund. Funds you save with us will be ready when you retire and the cumulative interest we provide will reward you for investing with Kingston National Bank. Our IRA Certificate is a safe, conservative saving retirement option. 

Traditional IRA

• Earnings are not taxed until withdrawal.
• Tax deferred growth of funds.
• Contributions may be tax deductible (Consult your tax advisor).
• Penalty free if you need funds for certain medical emergencies, first time home buying, and qualified educational expenses.
• Mandatory minimum distributions required annually from traditional IRA's after you reach the required minimum distribution age.

Roth IRA

• No mandatory distributions required
• Tax free growth of your funds
• Penalty free withdrawals after 5 years and age is 59 ½ years old.
• Customers could be subject to an early withdrawal penalty on IRAs.