FDIC Insured - Backed by the full faith and credit of the U.S. Government.
Saving Made Easy
With a robust lineup of saving account options with minimum starting deposits as low as $50.00, Southwest Capital Bank is here to help you get started saving for your next great adventure, whatever it may be!
Savings/Money Market Account Comparison
| Market Account Comparison | Christmas Club | Basic Savings | Premium Savings | Money Market Savings |
|---|---|---|---|---|
| Minimum balance to open | $25 | $50 | $250 | $2,500 |
| Withdrawal limit | 6 per quarter | 3 per month | 3 per month | 3 per month |
| Fee for exceeding withdrawal limit is charged per withdrawal | $10 | $5 | $5 | $5 |
| Mastercard® Debit Card | No | N/A | N/A | N/A |
| Online Banking with e-Statements | Yes | N/A | N/A | N/A |
| Variable Interest Rate1 | Yes - Call for Current Rate | N/A | N/A | N/A |
| Interest Paid | Monthly | Monthly | Monthly | Monthly |
| Average daily balance for interest payout | N/A | $100 | $750 | $2,500 |
| Dormancy fee (begins after 12 months of inactivity) | N/A | $5 per month | $5 per month | $5 per month |
To learn more about Miscellaneous Fees associated with Savings/Money Market Accounts review our Miscellaneous Fee Schedule.
To learn more about current interest rates, contact a member of the Southwest Capital Bank team at (505) 247-7922.
1.Variable interest rate subject to change without notice.
Certificate of Deposit Account
| Certificate of Deposit Account | Certificate of Deposit (CD)* |
|---|---|
| Minimum balance to open | $1,000 |
| Online Banking with e-Statements | Yes |
| Interest Rate | Yes - Call for Current Rates |
To learn more about current interest rates, contact a member of the Southwest Capital Bank team at (505) 247-7922.
For automatically renewing Certificates of Deposits, dormancy begins five (5) years after the earliest of the original maturity or the date of last indication of interest in the account by the owner.
*Early withdrawal penalties apply. Certificate of Deposits are allowed ten (10) days after the maturity date to withdrawal funds without penalty.
IRAs
Curious about IRAs? We've got you covered.
Traditional IRAs (Not employer-sponsored)
The money in your account grows on a tax-deferred basis
Your contributions may be tax-deductible (consult your tax advisor for deductibility in your situation)
You may withdraw money without penalty at age 59 1/2 (premature withdrawals may be subject to ordinary income tax and a 10% tax penalty)
Required minimum distributions must begin after age 72
Avoid tax penalties by rolling over money from your previous company's 401(k) or 403(b) plan
Roth IRAs (Not employer-sponsored)
The money in your account grows tax-free, however, contributions are not tax-deductible as with a Traditional IRA
Tax-free withdrawals in retirement if you have reached age 59 1/2 and have held the account for at least five years (premature withdrawals may be subject to ordinary income tax and a 10% tax penalty)
You are not required to begin taking distributions at age 72
SEP IRAs
A SEP (Simplified Employee Pension) IRA is a Traditional IRA set up under a written arrangement that allows employers to contribute to the IRA on the employee’s behalf (employer contributions may be discretionary). Generally, SEP IRAs have the same rules and requirements as Traditional IRAs.