The Milton Banking Company offers a wide variety of deposit products to meet your special needs.
Personal Checking Account
$100.00 minimum opening balance
$4.00 per month charge if balance falls below $400.00 during any day of the monthly cycle
$0.12 per item fee for each check written
No service charge if primary account holder is over the age of 60
No service charge for qualified educational and charitable groups
Attach a Master Money Debit Card with this account for ATM transactions and account purchases
Interest Checking
For our customers who prefer the benefits of our checking account plus earned interest, we offer interest bearing checking accounts. The features of these accounts are:
Now Accounts
Interest rate of .30% (APY .30%)*
$800 minimum daily balance
$4.00 per month charge if balance falls below the minimum**
Attach a Master Money Card with this account for ATM and Point of Sale Transactions
Super Now Accounts
Interest rate of .50% (APY .50%)*
$2,500 minimum daily balance
$10.00 per month charge if balance falls below the minimum**
Attach a Master Money Card with this account for ATM and Point of Sale Transactions
Business Checking Accounts
$100.00 minimum balance to open account
$2.50 monthly maintenance fee
$0.10 per item fee for each check written, and each check deposited (not drawn off of The Milton Banking Co.)
Receive a credit of $0.25 per $100.00 monthly average balance to offset your service charge.
Business Transfer Checking Accounts
$100.00 minimum balance to open account
$2.50 monthly maintenance fee
$0.10 per item fee for each check written, and each check deposited (not drawn off of The Milton Banking Co.)
Passbook Savings Accounts
Interest rate of .50% (APY .50%)*
$50.00 minimum opening balance requirements
A $25.00 daily balance must be maintained to earn interest
$1.00 per month charge if balance falls below $100.00
Statement Savings Accounts
Interest rate of .30% (APY .30%)*
$50.00 minimum opening balance requirements
A $25.00 daily balance must be maintained to earn interest
$1.00 per month charge if balance falls below $100.00
Preauthorized transactions are limited to six per statement cycle with no more than three to third parties
ATM cards may be used with this account
Minor Passbook Savings Accounts
Interest rate of .50% (APY .50%)*
$50.00 minimum opening balance requirements
A $25.00 balance must be maintained to earn interest
No Service Charge
Money Market Accounts
Interest rate of .50% (APY .50%)*
$2,500.00 minimum opening balance requirements
$10.00 per month charge if balance falls below $2,500.00
A per item fee of $10.00 will be charged for each transaction in excess of six during a statement cycle.
Christmas Club Accounts
Interest rate of .50% (APY .50%)*
No fees or charges for these accounts
Affordable and popular
A minimum balance of $5.00 must be maintained to obtain APY*
Closing account prior to maturity will impose a $5.00 closing fee plus accrued interest
Our Christmas Club begins the fourth week of October and is paid out on the third week of
October of the following year.
Certificates of Deposit
Our certificates of deposit combine safety and a guaranteed return for the applicable term. Various terms are available to meet your needs. Our current rates and terms are as follows:***
Term
Term
Interest Rate
APY
Minimum Balance
Three Months
.75%
.75%
$1,000.00
Six Months
1.10%
1.11%*
$1,000.00
Nine Months
1.10%
1.11%*
$1,000.00
Twelve
Months
1.40%
1.41%
$1,000.00
Fifteen Months
1.40%
1.41%
$1,000.00
Eighteen Months
1.60%
1.61%
$1,000.00
Twenty-One Months
1.60%
1.61%
$1,000.00
Twenty-Four Months
1.80%
1.81%*
$1,000.00
Twenty-Seven Months
1.80%
1.81%*
$1,000.00
Thirty Months
1.90%
1.92%*
$1,000.00
Thirty-Three Months
1.90%
1.92%*
$1,000.00
Thirty-Six Months
2.10%
2.12%*
$1,000.00
Forty-Eight Months
2.30%
2.32%*
$1,000.00
Sixty
Months
2.50%
2.53%*
$1000.00
Individual Retirement Accounts (IRA)
For those eligible customers, an IRA is a great way to save money
for retirement. We have two different IRAs available: Traditional and Roth. There is a minimum
deposit of $500.00 to open an IRA. These accounts earn the current certificate of deposit rates
(provided above) for the term of your choice.*** Also please note that FDIC Insurance increases
IRA coverage to $250,000.00. Our customer service representatives will be happy to explain the
differences and benefits of these accounts.
The Milton Banking Co. is participating in the FDIC's Transaction Account Guarantee Program. Under this program, all non interest-bearing transaction accounts are fully guaranteed by the FDIC for the entire amount of the account. This coverage is in addition to, and separate from, FDIC deposit coverage under the FDIC's general deposit insurance rules.
Whether it is Personal Checking, Christmas Club or any of the other deposit accounts, The Milton
Banking Company has an account for you. If you have any questions, please contact us at
(740) 384-2116 or contact your nearest office in Wellston, Jackson, New Holland, Mt. Sterling or Oak Hill.
Thank you for choosing The Milton Banking Company.
*APY - Annual Percentage Yield for monthly compounding.
Interest rates are subject to change daily. APY accurate as
of February 2, 2010.
**Fees could reduce the earning on these accounts.
***There is a penalty for early withdrawal from Certificates of Deposit/IRAs.
Bounce Protection is a non-contractual overdraft privilege of $400.00 given to regular checking
accounts and $1,500.00 given to NOW and Super NOW accounts within 30 - 45 days after the account
is opened and is considered to be "good standing" by The Milton Banking Company. A $25.00 per item fee
is charged when you use your Bounce Protection. Bounce Protection can be used for all types of
transactions including, but not limited to ATM Withdrawals, Point-of-Sale Transactions, Checks, Wire
Transfers, Automated Clearing House (ACH) Transactions, Pre-authorized Transfers, etc.
Bounce Protection is a non-contractual overdraft privilege of $400.00 given to regular checking
accounts and $1,500.00 given to NOW and Super NOW accounts within 30 - 45 days after the account
is opened and is considered to be "good standing" by The Milton Banking Company. A $25.00 per item fee
is charged when you use your Bounce Protection. Bounce Protection can be used for all types of
transactions including, but not limited to ATM Withdrawals, Point-of-Sale Transactions, Checks, Wire
Transfers, Automated Clearing House (ACH) Transactions, Pre-authorized Transfers, etc.
