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Personal Savings

Earn interest at a very competitive market rate, while you keep your excess funds ready for immediate access. Or from time-to-time, you may have the need to invest funds for longer term needs, in an account insured by FDIC up to $250,000. Either way, Valley National Bank has a savings plan that is right for you!

Personal Savings

  • NO minimum balance required to earn interest when the account is opened at the branch; Must maintain $100 balance to earn interest when account is opened online
  • Interest bearing at a variable rate, compounded daily and credited monthly. Fees may affect earnings
  • Transaction limitations apply
  • Low initial opening deposit of $100.00
  • Low $500.00 minimum daily balance requirement for accounts opened at the branch; $300 average daily collected balance requirement for accounts opened online - A monthly maintenance charge of $5.00 will be imposed if the balance requirements are not maintained
  • FREE electronic statements
  • $3 paper statements for accounts opened online

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Personal Money Market

  • FREE Online Banking
  • FREE Bill Pay
  • FREE telephone access to account information
  • Transaction limitations apply
  • Low initial opening deposit of $1,000.00
  • Low $2,500.00 minimum daily balance requirement – A monthly maintenance charge of $15.00 will be imposed if the balance falls below $2,500.00 any day of the cycle.
  • Interest bearing at a variable rate, compounded daily and credited monthly. You must maintain a minimum daily collected balance of $2,500.00 to earn interest. Fees may affect earnings.
  • FREE electronic statements
  • $3 paper statements for accounts opened online

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Tiered Savings

  • No minimum balance requirement to earn interest
  • Tiered interest rates compounded dialy and credited monthly.
  • Low initial opening deposit of $250
  • Low $250 minimum daily balance requirement to earn interest
  • FREE electronic statements, $3 paper statements for accounts opened online

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Kids Savings

  • NO monthly service charge
  • NO minimum balance required to earn interest
  • Interest bearing at a variable rate, compounded daily and credited monthly. Fees may affect earnings
  • Transaction limitations apply
  • Low initial opening deposit of $1.00

Certificates of Deposit

  • Higher yielding investments at a guaranteed interest rate
  • Flexible terms: 30 days to five years
  • Low minimum opening deposits
  • Credited interest may be sent to you or automatically transferred to another account, without penalty.
  • Automatically renewable at maturity

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Holiday Club Savings

Save More. Give More.

A Holiday Club Savings Account is a smart savings plan for next year’s holiday season. Look for details in October to get started!

  • Weekly minimum deposit varies: $10, $20, $25 or $50
  • Deposits can be made weekly for up to 50 weeks or you can set up automatic transfers from your Valley Checking account.

IRA

IRAs offer you long-term retirement savings with tax advantages.

  • Traditional IRA - A tax-deferred investment that may allow you to contribute up to $5,500 annually if you are under age 50 and $6,500 annually from age 50 up to age 70-1/2 or until retirement.
  • Roth IRA - An IRA plan that may allow you to contribute up to $5,500 annually if you are under age 50 and $6,500 annually if you are age 50 or over.
  • Education IRA - An IRA designed to help fund a child's higher education expenses. Contributions of $2,000 can be made up to the child's 18th birthday.

Consult your tax advisor for eligibility and potential tax savings.

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Health Savings

Health Savings Accounts (HSAs), are a convenient way to save and pay for qualified medical expenses as long as you are participating in an eligible, high-deductible health plan (HDHP) that has a minimum deductible of $1,300 for individuals and $2,600 for family coverage.

With Valley’s HSA, the funds in the account are always yours. Unspent balances remain in the account until utilized. You have the freedom to continue saving in the account, even after your retirement.

Cannot be enrolled in any other plan or Medicare.