Savings | Personal Banking | American Bank of Commerce Personal Savings | ABC Bank

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Personal Savings

A personal savings account is the first step to financial stability. It’s the emergency fund that we all need, the safety net, and the beginning stage of building wealth. American Bank of Commerce knows you need a savings account that supports your savings goals. We offer a variety of savings account options – each one customized for your benefit. With online account opening now available, we make it even easier for you to open an account.

Click Here To Open An Account Online

* Online account opening is only available to consumers residing in Texas and Colorado at this time. Not all Checking and Savings products are eligible to be opened online.

  • ABC SAVINGS

    Account Description & Benefits: Savings accounts are an easy and safe way to save for the future and may be tied to your checking account to protect you from accidental overdraft charges. Let us help you set up an Automated Funds Transfer to make saving easy.

    Interest Bearing - Minimum Daily Balance required to obtain the annual percentage yield Yes

    Service Charges

    Daily balance during statement cycle determines service charge:

    • $0 – $49.99 = $3.00
    • $50.00 + = $0

    Over 6 withdrawals per quarter = $2 per item

    Eligibility Individual or Business
    Minimum Opening Deposit $50
    Transaction Limitation 6 transfers or withdrawals per month by check, debit card or similar order payable to a third party
    ATM/Debit Card - additional fees may apply, a full fee schedule is available at any branch Yes - ATM Only 

     

  • ABC YOUTH SAVINGS

    Account Description & Benefits: This account is set up for individuals age 0 to 18. Whether saving for college, a new car or the future, teach your child money savings basics.

    Interest Bearing - Minimum Daily Balance required to obtain the annual percentage yield Yes

    Service Charges

    • No statement cycle service charge
    • Over 6 withdrawals per quarter = $2 per item
    Eligibility Individuals 0 – 18 years old
    Minimum Opening Deposit $25
    Transaction Limitation 6 transfers or withdrawals per month by check, debit card or similar order payable to a third party
    ATM/Debit Card - additional fees may apply, a full fee schedule is available at any branch Yes - ATM Only 

     

  • HEALTH SAVINGS (HSA)

    Account Description & Benefits: Your High Deductible Health Plan (HDHP) is combined with an HSA account for the purpose of paying or reimbursing qualified medical expenses. Contributions to an HSA are tax deductible, the earnings grow tax deferred and distributions to pay for reimbursed qualified medical expenses are tax free.

    Interest Bearing - Minimum Daily Balance required to obtain the annual percentage yield Yes

    Service Charges

    Daily balance during statement cycle determines service charge:

    • $0 – $999.99 = $2.00
    • $1,000 + = $0
    Eligibility Individuals covered by a high-deductible health plan that meets annual requirements – annual contribution limits apply
    Minimum Opening Deposit $.01
    Transaction Limitation Unlimited
    ATM/Debit Card - additional fees may apply, a full fee schedule is available at any branch Yes – Health Savings debit card only

     

  • Account Description & Benefits: An IRA, is a tax-deferred account that permits individuals to set aside money each year for retirement planning, with earnings tax-deferred until withdrawals begin at age 59 1/2 or later. Contributions may be deductible. IRA’s are funded by a Certificate of Deposit. IRA Types offered: Traditional IRA, ROTH IRA, SEP IRA (Simplified Employer Plan), CESA (Coverdell Education Savings Account).

    Interest Bearing - Minimum Daily Balance required to obtain the annual percentage yield Yes

    Service Charges

    Penalty for early withdrawal

    Eligibility Individuals
    Minimum Opening Deposit $1,000
    Transaction Limitation Non-transactional account
    ATM/Debit Card - additional fees may apply, a full fee schedule is available at any branch No

     

  • CERTIFICATE OF DEPOSIT

    Account Description & Benefits: Certificate of Deposits are a low-risk investment that allows you to maximize your savings with added benefits of liquidity and safety. CD terms from one month to five years.

    Interest Bearing - Minimum Daily Balance required to obtain the annual percentage yield Yes

    Service Charges

    Penalty for early withdrawal

    Eligibility Individuals or Business
    Minimum Opening Deposit

    $1,000 for Regular CD’s – all terms

    $100,000 for Jumbo CD’s – all terms

    Transaction Limitation Non-transactional account
    ATM/Debit Card - additional fees may apply, a full fee schedule is available at any branch No