| Checking is a basic banking service for easy bill payment
and concise record keeping. Southwest Georgia Bank has a broad selection
of personal and business accounts to match your needs and lifestyle.
All Southwest Georgia Bank checking accounts provide you with detailed
monthly statements. Accidental death insurance options are available.
Also, all checking accounts are FDIC insured up to the applicable limit. |
| Regular Savings |
Interest is compounded and paid quarterly on daily
collected balances. Withdarwals/transfers can be made in person, through
ATMs and through SGB Online Banking. A monthly maintenance fee of $1.00
will be charged if the daily minimum balance drops below $500.00. Two
withdrawals/transfers per month are allowed with no charge. A withdrawal/transfer
fee of $2.00 per debit is charged for all withdrawals/transfers over
two per month. The minimum deposit to open a regular savings account
is $50.00.
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| Certificate of Deposit |
| Maturities are offered in terms of three months, six months, one year,
two years, three years, four years and five years. Simple interest is
earned and paid on certificates of less than one year. Certificates of
one year and more may be compounded and paid quarterly. The minimum deposit
to open a Certificate of Deposit is $1,000.00. A penalty may be imposed
for early withdrawal. |
| Individual Retirement Account (IRA) |
| We can help you save for retirement and the interest earned will be
tax free until you retire. We offer Traditional IRAs, Roth IRAs and Education
IRAs. Current regulations allow you to deposit a yearly maximum of $2,000
earned income. Working couples may deposit a maximum of $4,000. If you
are filing jointly and only one spouse works, you may deposit a yearly
maximum of $4,000. Minimum deposit to open an IRA varies, and taxable
contribution situations vary by individual. |
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