High Yield Online Savings Account
Grow Your Savings faster with a 4.00% Annual Percentage Yield (APY)
- Earn up to 4.00% Annual Percentage Rate
- Carver Bank deposits are insured by the FDIC up to $250,000 per individual and $500,000 per joint account
- Easy sign-up open account in 5 minutes or less
- Interest compounds daily and is deposited into account monthly
- Complimentary e-statements
- Complimentary Visa Debit Card
- Free Online Banking and Mobile Banking
- Access to free ATMs nationwide with J.P. Morgan, Wells Fargo and Allpoint
Terms & Conditions:
- This account can only be opened online. It cannot be opened at a Carver Bank branch.
- To apply online you must be 18 years or older, be a U.S. citizen or resident and have a Social Security Number.
- Minimum opening deposit $5,000.
- Minimum average daily balance to waive monthly maintenance service charge: $5,000.
- Monthly service charge of $5 will be charged if the average daily balance falls below $5,000 in a monthly statement cycle.
- Minimum daily balance falls below $5,000, the rate will adjust to the Carver Savings
- Compounding and Crediting- Interest will be compounded daily and credited monthly.
- Balance Computation Method - The daily balance method to calculate interest will be used, daily periodic rate is applied to the principal plus the accrued interest each day.
*Interest rates are subject to change anytime without prior notice at the Bank/s discretions. See your account disclosures and agreements for other important terms and conditions that may apply. Imposition of fees may reduce earnings. Fee, such as non-sufficient funds, overdraft fees, may apply to all accounts. See Fee Schedule for details. E-Statements available at no charge, otherwise $3.00 fee per monthly paper statements. We’ve partnered with JP Morgan Chase, Wells Fargo and Allpoint networks to provide free access to ATMs nationwide. You will not be charged a fee when using an in-network ATM, however, a third-party fee of $2.50 will be charged when using out-of-network ATMs. Carver Banks ATM Policies are subject to change at our discretion at any time. Carver Statement Saving has an Annual Percentage Yield (APY) of 0.10% as of March 13, 2023.