The Blue Grass Valley Bank
 
Monterey, VA ♦ (540) 468-1915
Blue Grass, VA ♦ (540) 474-2430
 
The Blue Grass Valley Bank
 

Christmas Club Account


Our interest bearing Christmas Club Account helps you save for the holidays year-round, so that you don't get caught at the last minute without the cash you need.


Rate Information: The interest rate and annual percentage yield are included in the Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account monthly. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Interest will be compounded annually and will be credited to the account annually. If the account is closed before interest is credited, you will not receive the accrued interest. At the end of the club account period (October 25th of the given year) the funds in the account will be mailed to you by check.

 

Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.

 

Limitations: You must deposit $1.00 to open this account. This account allows one early withdrawal during the term of the account.

 

Account Fees: There is no monthly service charge for maintaining a Christmas Club Account.