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Savings & CDs

There's no time like the present to start thinking about how your money can work for you. Whether you are looking to set a little money aside for a rainy day or looking to secure your financial future, State Central Bank offers a wide range of savings plans. We feel confident you will find one that best suits you.


Regular Savings Account

An account that requires no minimum deposit to open.

  • Interest is paid on the daily average collected balance
  • No service charge when average collected daily balance is $50
  • May be accessed with an ATM card
  • Accessible with SHAZAM ChekCards linked to an SCB Checking account
  • Allows 12 withdrawals per calendar quarter at no charge (Certain limitations apply.)



Golden Passbook Account

An account that is more flexible than a certificate of deposit for short-term investment.

  • Requires $2,500 to open and a $2,500 average collected daily balance
  • Earns a higher interest rate than the regular savings account


Young Dreamers Account

A savings account for people under the age of 18 and/or attending college or in the military.

  • Earns interest on the average collected daily balance and paid quarterly.
  • May be accessed with an ATM card
  • Accessible with SHAZAM ChekCards linked to an SCB Checking account
  • Allows 12 withdrawals per calendar quarter at no charge


Christmas Club

A short term savings plan to offset holiday expenses.

  • For any budget-choose a $1, $2, $3, $5, $10 or $20 club
  • Automatic payments can be made from your checking or savings account


Health Savings Account (HSA)

A tax-free savings account to pay for qualified medical bills.

  • Contributions are tax deductible
  • Earnings are tax free
  • Tax-free withdrawals for qualified medical expenses
  • Available to persons who meet the following criteria:

1. Covered by a high-deductible health plan 

2. Are not enrolled in Medicare

3. Are not claimed as a dependent on another's tax form


Certificates of Deposits

Regular CD

Select various CD maturities ranging from 91 days to 60 months

  • Rates are competitive based on the current market
  • Minimum investment required
  • Guaranteed interest rate through out term of the certificate
  • Interest can be disbursed in one of three ways:

1. As an interest check

2. Deposited into a checking or savings account

3. Added back semi-annually/quarterly (at maturity for a 91-Day CD)


Budget Master CD

A 10 month CD requiring a $1,000 minimum deposit

  • Interest is paid monthly into a checking or savings account
  • Guaranteed fixed interest rate throughout term of certificate
  • Not renewable 


Investment CD

A 12 month CD that works similar to a U.S. Treasury Bill

  • Available only to Grand checking, Diamond Now checking, and qualified IRA customers
  • $20,000 minimum deposit
  • Higher interest rate than that of the Grand and Diamond Now accounts
  • FDIC insured 
  • No penalty for early withdrawal after 6 months