SBT still provides its customers with a variety of savings options to plan for sunny days as well. The Premier is a tiered account meaning that the rate of interest paid increases as the account balance increases. Funds can be withdrawn at any time with no penalty. The Premier offers limited check writing privileges. The Simple Money Market account shares some features of the Premier, except that the interest rate stays the same regardless of the balance.
Interest is compounded daily and paid monthly.
Passbook and Statement Savings Accounts SBT offers the choice of a traditional account with a passbook the customer keeps and brings to the bank to make a deposit or withdrawal, or the newer and more convenient statement savings account, in which statements are mailed each month rather than recorded in a passbook. Interest on either account is compounded daily and paid quarterly. Certificates of Deposit SBT offers a variety of CD options for different investment goals. CDs that mature in just 32 days are available as well as those that mature over a longer period, paying a higher rate of interest. Interest on CDs is compounded daily and credited to the CD, to another SBT account, or paid by check either monthly, quarterly or at maturity as the customer prefers.