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Personal Savings

Want to compare our savings accounts?

Want to apply for a Savings Account?

Learn about the benefits of a Blue Ridge Bank and Trust online savings account.

The simple savings calculator from Blue Ridge Bank and Trust shows how your investment can grow based on initial and additional deposits, plus interest.


Maximum Yield (MY) Savings Regular Savings Money Market Deposit Account Maximum Yield (MY) Money Market Certificate of Deposit (CD) Student Savings My First Million
Minimum to Open $25 $100 $1,000 $15,000 As little as $500* $50 $5
Minimum Balance $0.01 to earn interest
$100 to earn interest
$1,000 to earn interest
$15,000 to earn interest
As little as $500* to earn interest
$50 to earn interest $5 to earn interest
Limitations
Allows 6 transfers per monthly statement cycle
To avoid fees, withdrawals are limited to 3 per month
Allows 6 transfers per monthly statement cycle
To avoid fees, withdrawals are limited to 3 per month
Allows 6 transfers per monthly statement cycle

Withdrawals in person are unlimited
Allows 6 transfers per monthly statement cycle

Withdrawals in person are unlimited
None
Allows 6 transfers per monthly statement cycle
To avoid fees, withdrawals are limited to 3 per month
Age 0-12
Allows 6 transfers per monthly statement cycle 
To avoid fees, withdrawals are limited to 3 per month
Statements

eStatements Required

Paper statements are available for a $5 monthly fee

Quarterly or monthly if there are electronic deposits or withdrawals Yes Yes N/A
Yes Quarterly or monthly if there are electronic deposits or withdrawals
Free Online Banking Yes Yes Yes Yes N/A Yes Yes
Free Mobile Banking Yes** Yes** Yes** Yes** N/A
Yes** N/A
eStatements Available Required Yes Yes Yes N/A Yes Yes
Interest Bearing
Tiered interest rate
Interest will be credited to the account monthly***
Interest will be credited to the account semi-annually***
Tiered interest rate
Interest will be credited to the account monthly***
Tiered interest rate
Interest will be credited to the account monthly***
Interest can be compounded, paid by check or deposited into an account you designate***
Interest will be credited to the account quarterly*** Interest will be credited to the account quarterly***
Fees $1 fee for each withdrawal in excess of 3 per month
$1 fee for each withdrawal in excess of 3 per month
$3 monthly fee if balance falls below $100
$10 per transaction fee in excess of 6 per monthly statement cycle
$10 monthly fee if balance falls below $1,000
$15 per transaction fee in excess of 6 per monthly statement cycle
$15 monthly fee if balance falls below $15,000
A penalty may be imposed for early withdrawal $1 fee for each withdrawal in excess of 3 per month
$1 fee for each withdrawal in excess of 3 per month



* Customers age 17 and younger may purchase CDs for as little as $250.
**Your cell phone or mobile device must be equipped to access the Internet. You may be charged access rates depending on your carrier. Check with your service provider for details on specific fees and charges. All terms and conditions applicable to online banking may apply to mobile banking.
***The daily collected balance method is used to calculate interest. This method applies a daily periodic rate to the principal in the account each day. Rate may change weekly. For current rates and listing of any miscellaneous fees or charges that may apply, visit one of our locations, call our Customer Service Center at 816-358-5000 or see our Fee Schedule.
Enjoy additional premium interest by opening a MY Savings account! If you meet qualifications to earn premium interest in your MY Checking, you will also earn additional interest in your MY Savings.

Features
 
  • $25 to open
  • Earn interest on all balances*
  • Interest paid monthly
  • No minimum balance
  • No monthly service fee*
  • Free online banking and e-Statements
  • Free mobile banking, mobile deposit, and text banking**

Requirements
To earn premium interest in a MY Savings account, simply meet these requirements each monthly qualification cycle:

  • Must have a MY Checking account 
  • Must meet the monthly requirements in your MY Checking account:
    • Sign up for e-Statements
    • Complete 12 or more debit card point-of-sale purchases
    • Complete one ACH direct deposit or payment 
To learn more about the Maximum Yield (MY) Checking account.

*The MY Savings account requires $25 to open, electronic statements, an active email account, and enrollment in online banking. Paper statements are available for a $5 monthly fee. Interest is paid on all balances. Interest compounded monthly and credited to the account monthly. Premium interest on balances up to $25,000 when monthly requirements are met in your MY Checking account. Tiered interest on balances over $25,000 or if requirements are not met in your MY Checking account. You are allowed (6) transfers per monthly statement cycle. $1 excess item fee for each withdrawal in excess of (3) per monthly statement cycle. A charge of $25 will be assessed on the account if closed within 180 days of opening. The interest rate and annual percentage yield will depend upon the balance in the account as shown on the Rate Chart.
 
**Must be registered online banking user to access account through the BRB Mobile App, Blue Ridge Bank does not charge for text banking, but message and data rates may apply. Check with your service provider for specific fees and charges.
Start with a firm foundation. A regular savings account allows you to build your savings with a low minimum balance. For as little as $100 you can begin earning interest and save for the future.

  • $100 to open
  • $100 minimum balance to earn interest*
  • Interest paid semi-annually
  • No monthly service fee
  • Quarterly statements, monthly with electronic transactions
  • Free online banking and e-Statements
  • Free mobile banking, mobile deposit, and text banking**


* The interest rate and annual percentage yield will depend upon the balance in the account as shown on the Rate Chart. $1 excess item fee for each withdrawal in excess of three (3) per monthly statement cycle. $3 monthly low balance fee if balances falls below $100.
**Must be registered online banking user to access account through the BRB Mobile App, Blue Ridge Bank does not charge for text banking, but message and data rates may apply. Check with your service provider for specific fees and charges.
 
Good money habits start early. Teach your child the skills he'll need to succeed with his own Blue Ridge Bank and Trust Co. savings account, exclusively for kids up to 12 years old. Plus, our friendly mascot, "Otter B. Saving", makes saving fun! To get your child started on his own first million, simply call (816) 358-5000 or stop by your nearest branch office and ask one of our friendly financial service representatives how to enroll.

  • Age 12 or younger
  • $5 minimum to open
  • Interest paid quarterly, statements every 6 months
  • My First Million passbook and goodie bag
  • Savings incentives
  • CDs available
  • Newsletter

The interest rate and annual percentage yield will depend upon the balance in the account as shown on the Rate Chart.
You have a lot of reasons to save, from your first car to college. Ideal for ages 13 and over, Blue Ridge Bank Student Savings establishes good money habits that last a lifetime.*

Details
  • Only $50 to open
  • Earn interest on all balances1
  • Interest paid quarterly
  • No monthly service fee
  • Allowed (6) transfers per monthly statement cycle2
Perks
  • Free online banking and e-Statements
  • Free Mobile Banking - Download the BRB Mobile App for iPhone® and Android™ to access your account, transfer funds, and pay bills3
  • Free Mobile Deposit - Easy as snapping a picture on your mobile device.3
  • Free Text Banking - Sign up through the free mobile app to access balance and history, make transfers, and set alerts.3
Also Available
  • Student Checking

*All account holders 17 years and younger will be required to have a parent or legal guardian on the account. The parent or legal guardian must sign a minor deposit guaranty form.

1The interest rate and annual percentage yield (APY) may change without notice. Fees may reduce earnings. Rates are subject to change.
2To avoid fees, withdrawals are limited to 3 per month. $1 fee for each withdrawal in excess of 3 per month.
3Must be registered online banking user to access account through the BRB Mobile App. Blue Ridge Bank does not charge for text banking, but message and data rates may apply. Check with your service provider for specific fees and charges.
Earn more with a Regular Money Market account. It's like a savings account with check writing privileges.

$1,000 to open
$1,000 minimum to earn interest
Free online banking
Free e-Statements
Tiered interest rate*
Free online banking and e-Statements
Free mobile banking, mobile deposit, and text banking**
 

*The interest rate and annual percentage yield will depend upon the balance in the account as shown on the Rate Chart. $10 per transaction fee in excess of six (6) per monthly statement cycle. $10 monthly fee if balance falls below $1,000.
**Must be a registered online banking user to access account through the BRB Mobile App, Blue Ridge Bank does not charge for text banking, but message and data rates may apply. Check with your service provider for specific fees and charges.
Looking for higher earnings on your investments? Consider the Maximum Yield Money Market account.

  • $15,000 to open
  • $15,000 minimum to earn interest*
  • Free online banking and e-Statements
  • Free mobile banking, mobile deposit, and text banking**
  • Tiered interest rate


*The interest rate and annual percentage yield will depend upon the balance in the account as shown on the Rate Chart. $15 per transaction fee in excess of six (6) per monthly statement cycle. $15 monthly fee if balance falls below $15,000.
**Must be registered online banking user to access account through the BRB Mobile App. Blue Ridge Bank does not charge for text banking, but message and data rates may apply. Check with your service provider for specific fees and charges.
For our CD terms and rates, please see the Rate Chart.

The Retirement Plan for Everyone

One of the greatest challenges facing American workers is ensuring their financial security in retirement. An IRA is one of the most viable tools to ensure a secure retirement. The Traditional IRAs offer:

  • Independence (they can be opened and funded without any employer participation),
  • Immediate tax benefits, with contributions and earnings tax-deferred until retirement*
  • Accessibility, with assets always available
  • Flexibility, because IRA owners choose their contribution amount (within limits), investments, and the financial organization.
The requirements for contribution to a Traditional IRA are few. You can contribute if:
  • You or your spouse has earned income from employment.
Each year you can contribute up to:
  • A maximum of $6,000 for 2019, and a
  • Catch-up contribution of $1,000 if you are age 50 or older.
Blue Ridge Bank offers Traditional IRAs in a variety of terms and rates. View the Rate Sheet. For more information about IRAs, please call our Customer Service Center at 816-358-5000.

*Please consult your tax advisor.
A Tax-Free Source of Retirement Income
Americans are looking for new ways to secure their financial future. The Roth IRA gives you the option to invest after-tax dollars today, let the investment grow tax deferred, and take qualifying withdrawals tax free.

What makes the Roth IRA unique?
Unlike any other type of IRAs, the Roth IRA can provide you with tax-free income during your retirement. Your money going into the Roth IRA is taxed; your money later withdrawn, which may potentially include significant amounts of earnings, is tax-free if your follow certain requirements.

Two factors make this possible:

  • First, the money you contribute to a Roth IRA has already been taxed. Therefore, the principal amount is never subject to taxes or penalties in the future, as long as you stay within the contribution guidelines.
  • Second, this retirement savings vehicle allows the money you contribute to grow tax-deferred. If you do not withdraw any of the earnings until you have had a Roth IRA for at least five years, and you satisfy one of four qualifying events, those tax-deferred earnings become tax-free. (Consult your tax advisor for eligibility.)

What are the qualifying conditions and events?
If you satisfy two conditions, you may take tax-free and penalty-free withdrawals from your Roth IRA. First, a Roth IRA must have been open for a minimum of five years. Second, the withdrawal must be made after one of the following events occurs:

  • Attaining age 59 1/2
  • Incurring a disability
  • Incurring first-time homebuyer expenses
  • Death
Distributions that meet the above requirements are referred to as "qualified" distributions. While you may take distributions from your Roth IRA at any time, distributions that are not qualified are subject to taxes (and in some cases early distribution penalties) to the extent they exceed your aggregate contributions to Roth IRAs.

What is the maximum contribution amount?
If you are eligible, the maximum amount to contribute for 2019 is $6,000. In addition, if you reach age 50 or older by the close of the taxable year, you may also make a catch-up contribution up to $1,000.

For more information about the benefits of a Roth IRA, please call our Customer Service Center at 816-358-5000.