Old Point Bank Rates

The Old Point National Bank is a full service community bank located in Virginia.  Old Point National Bank has been FDIC insured since January 1, 1934.  The bank has 20 banking locations throughout Hampton Roads.  For the non-Virginians, Hampton Roads is the name of both a body of water and the area of land that surrounds it in southeastern region of Virginia.

Old Point National Bank is chartered as a National Bank.  Therefore the primary regulator is the Office of the Comptroller of the Currency (OCC).  At the end of 2008, tha bank had assets of $830,975,000 and net income of $6,710,000.  The banks non current loans as a percent of total loans was 0.72%.  The core capital or leverage ratio was 9.38%, tier 1 risk-based capital ratio was11.73% and total risk-based capital ratio was12.69%.

Old Point National Bank offers a broad array of personal banking products and services to meet consumer’s needs.  The bank has a variety of checking accounts, mortgages, investment accounts, and more.  Old Point National Bank has a variety of savings options to help consumers meet their investment targets.

Old Point National Bank has a statement savings account that can be used to save for almost anything.  The statement savings accounts require a $10.00 minimum balance to open.  There is a $1.00 charge for each withdrawal in excess of 2 per calendar month and a $2.00 charge for a monthly account balance less than $200.

The bank offers a money market account in which you can invest and have the convenience of limited check writing.  The money market savings accounts require a $25.00 minimum deposit to open.  The money market accountholder may make six withdrawals from the money market savings account per monthly statement period, three of which may be by check.  This account is a tiered-rate account that offers even higher rates for higher balances.  The money market allows access to your money through checks, ATM, phone, or in-person withdrawals.

Old Point National Bank certificates of deposit, or CDs, are a good way to save for the future especially considering our present economic environment.  These FDIC-insured, high yielding bank accounts are available for a variety of terms.  The bank offers CDs from a 7-day CD requiring a $2,500 initial deposit, to a 5-year certificate for as little as $500 and many different levels in between.  The bank CDs earn competitive interest rates that are guaranteed for the term of the deposit.

All of the bank CDs are automatically renewable, and the CD account holder can choose how and when to receive the interest: it can be automatically credited to an Old Point checking account or savings account, sent to the accountholder by check, or be reinvested in the CD at maturity.

7 to 31 day CD rate is 0.60% APY.  Minimum opening deposit for this bank CD is $2,500.00
91 day CD rate is also 0.60% APY.  Minimum opening deposit is also $2,500.00 for this bank CD.
182 day CD rate is 0.75% APY.  Minimum opening deposit for this bank CD is $2,500.00.
One year CD rate with no penalty is 1.00% APY.  Minimum opening deposit for this bank CD is $2,500.00.
13 month CD rate with no penalty is 1.50% APY.  Minimum opening deposit for this bank CD is $1,000.00.
Special 7 month CD rate is 2.25% APY.  Minimum opening deposit for this bank CD is $10,000.00.
12 to 23 month CD rate is 1.10% APY.  Minimum opening deposit for this bank CD is $500.00.
Special 14 month CD rate is 2.50% APY.  Minimum opening deposit for this bank CD is $5,000.00.
24 to 35 month CD rate is 1.35% APY.  Minimum opening deposit for this bank CD is $500.00.
26 month bump up CD rate is 2.75% APY.  Minimum opening deposit for this bank CD is $10,000.00.
36 to 59 month CD rate is 1.55% APY.  Minimum opening deposit for this bank CD is $500.00.
Five year CD rate is 2.20% APY.  Minimum opening deposit for this bank CD is $500.00.
Special 58 month CD rate is 3.05% APY.  Minimum opening deposit for this bank CD is $5,000.00.

Bank CD rates subject to change without notice.  Additional conditions may apply.  For current CD rates contact a bank representative at 757-728-1290 or 800-952-0051.  Additional account information and bank rates are also available at the bank website located at www.oldpoint.com.

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This entry was posted on Saturday, March 7th, 2009 at 12:39 am and is filed under Bank Promotions. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.