Baltimore County Savings Bank Personal Banking

Important Personal Banking Information

Savings and Checking Accounts

APY means Annual Percentage Yield. Rewards Checking requires a $25 minimum balance to open and is subject to bank's standard service fee schedule; fees incurred could reduce earnings. ATMS accessed within the United States outside of the MoneyPass network will automatically receive ATM refunds up to $15 per statement cycle when the minimum requirements are met for Rewards Checking. Qualifications to earn maximum APY include 12 debit card purchase (excludes ATM transactions), e-statements, online banking established and maintained and one direct deposit or ACH auto debit per statement cycle. Rates on Savings and Checking accounts may change after account is opened. To qualify for Sr. Gold Checking you must be 55 or older and have at least one other BCSB deposit account  To avoid a $5.00 monthly fee on Sr. Gold Checking a $250 balance must be maintained in the account or have one direct deposit during the statement cycle or maintain combined BCSB accounts totaling $250.00 or more.  Interest on savings and checking accounts is computed from day of deposit, to day of withdrawal, compounded daily and paid monthly. A fee of $5.00 will be assessed monthly to passbook savings and statement savings accounts if the balance falls below $250.  A fee of $5.00 will be assessed monthly to Interest Checking accounts if the balance falls below $250. A fee of $8.00 will be assessed monthly to Super Checking accounts if the balance falls below $1,000. Free Checking accounts do not earn interest. Money Market Deposit Accounts allow an unlimited amount of in-branch withdrawals at a minimum of $500.00 each.  Accounts are limited to six debits per statement cycle at a minimum of $500.00 each.  A $15.00 fee may be assessed per cycle for withdrawals or transfers exceeding the limit.  Fees may reduce earnings.

Certificates of Deposit

APY means Annual Percentage Yield. The minimum deposit to open a Certificate of Deposit is $500. Interest is computed from day of deposit, to day of withdrawal, compounded daily and paid monthly. A bonus rate is paid to qualified customers who have a BCSB checking account with direct deposit. The bonus rate does not apply to certificate renewals. Early withdrawal penalties are assessed in an amount equal to the lesser of all interest paid or three months earnings (for terms of 12 months or less) or six months earnings (for terms greater than 12 months).

Retirement Accounts

APY means Annual Percentage Yield. Minimum deposit to open an IRA certificate account is $500. Interest is computed from day of deposit, to day of withdrawal, compounded daily and paid monthly.  Withdrawals for Required Minimum Distributions (by customers over 70½ years) will not be assessed early withdrawal penalties. Early withdrawal penalties apply to all other IRA certificate of deposit customers. . Early withdrawal penalties are assessed in an amount equal to the lesser of all interest paid or three months earnings (for terms of 12 months or less) or six months earnings (for terms greater than 12 months). Bump-up and term changes are not permitted. Deposits to IRA certificates can be made at maturity. Additional deposits are not permitted during the term of the certificate. IRA statement savings accounts are available with a minimum opening deposit of $250, and allow for deposits to be made at any time. There is no monthly fee associated with the IRA statement savings account.

Education Accounts

APY means Annual Percentage Yield. Minimum deposit to open an account is $100. Interest is computed from day of deposit, to day of withdrawal, compounded daily and paid monthly. Contributions and earnings are tax-free when withdrawn to pay for a qualified education expense. Early withdrawal penalties are assessed in an amount equal to the lesser of all interest paid or three months earnings (for terms of 12 months or less) or six months earnings (for terms greater than 12 months).

Health Savings Accounts

APY means Annual Percentage Yield. Minimum deposit to open an account is $50.00. Interest is computed from day of deposit, to day of withdrawal, compounded daily and paid monthly. Accounts are assessed a monthly fee of $2.00 if the balance falls below $250. Fees may reduce earnings.

Consumer Loans

Annual Percentage Rate (APR) is current as of the date indicated. Cost per $1000 is based on maximum term. Rates listed are for purchase of the indicated collateral. Adequate property and casualty insurance required. Rates and terms are subject to change without notice and valid only for Maryland residents. All loans are subject to regular underwriting standards. Other rates and terms available. Contact us for more information.

Mortgage Loans

Annual Percentage Rate (APR) is based on a minimum loan amount of $200,000 on conforming loans. Jumbo (non-conforming) loan APR calculation is based on a loan amount of $600,000, with a 20% down payment. Rates are for primary single-family owner-occupied residences on Maryland properties only. All purchase loans require a 10% or more down payment. Down payments of 10% available on loan amounts up to $417,000 with Private Mortgage Insurance (PMI).  PMI is required on loan to values (LTVs) in excess of 80%. For refinances and jumbo loans there is a maximum loan to value (LTV) of 80%. For condominium purchase and refinances there is a maximum loan to value (LTV) of 80%. Adequate property and flood insurance may be required. All loan approvals are subject to BCSB’s normal underwriting standards.

Home Equity Fixed Rate Loans

Annual Percentage Rate (APR) is based on a minimum loan amount of $100,000. Rates are for owner-occupied single-family residences on Maryland properties only. For fixed rate loans the closing costs range from $550 to $6,200 primarily based on the loan amount and the property location. The maximum loan amount is 80% of your house’s value, less the outstanding first mortgage, with a maximum loan amount of $500,000. Adequate property and flood insurance may be required. Loans are subject to BCSB’s normal underwriting standards and will result in a security interest on your property. Consult a tax advisor regarding the deductibility of interest and charges for all home equity loans.

Total Control Home Equity Lines of Credit

Annual Percentage Rate (APR) is subject to adjustment monthly equal to the prevailing Prime Rate, minus ¼% or 4% floor up to 80% LTV, as published in the Wall Street Journal for the life of the loan. “Prime Rate” means the latest U.S. prime rate published in the Money Rates section of The Wall Street Journal for the last day of the preceding calendar month. As of 8/1/10 the Prime Rate is 3.25% which would result in an APR of 4.00% (due to the floor) up to 80% LTV based on a loan amount of $100,000. The line of credit provides a 30-year term with a 15-year draw period. Interest rates may increase after consummation, with a maximum rate of 24% and a floor of 4% up to 80% LTV. Borrower has the option to create three (3) fixed rate term loans at the currently offered term loan rates. A $50 transfer fee applies each time you establish a fixed rate loan, with a $5,000 minimum balance transfer. ¹Closing costs apply to lines over $250,000 and range from $550 to $6,200, based primarily on loan amount and property location. ²For lines less than $250,000 the closing costs are paid by the bank, and are subject to recapture in the event interest paid in the first three years of the line does not exceed the closing costs. Offer valid on primary, single-family, owner-occupied properties in Maryland only, and is subject to change without notice. Adequate property and flood insurance may be required. Loan approval is subject to normal underwriting standards. Consult your tax advisor regarding deductibility of interest.

¹ Closing costs apply to any loan amount over $250,000.
² For lines with LTV of 80% or less and $250,000 or less the closing costs are paid by the bank.