Secure account options that help you plan for your financial future
With many accounts featuring a low opening balance and very competitive rates, Redwood Capital Bank offers FDIC-insured secure options to meet your needs. From student savings accounts to IRA plans that help you save for retirement, we have easy and safe account options designed to enhance your banking relationship.
Basic Savings |
Money Market Savings | Minor Savings |
Certificate of Deposit | |
---|---|---|---|---|
Features and Benefits |
Low minimum opening balance Unlimited deposits and in-person cash withdrawals* |
Unlimited deposits and in-person cash withdrawals* Interest rate increases automatically as balance increases |
Unlimited deposits and in-person cash withdrawals by custodian* At age 18 the account will convert to a Basic Savings account |
Fixed interest rate Renews automatically Terms from 30 days to 59 months |
Minimum Opening Balance | $100.00 | $500.00 | $20.00 | $2,500.00 |
Monthly service charge | See Fee Schedule | |||
Minimum balance to avoid Monthly service charge | See Fee Schedule | |||
Interest |
Variable Compounds Paid |
Tiered Variable Compounds Paid |
Compounds Paid |
Tiered Fixed Compounds |
Minimum balance to earn interest | $100.00 | N/A | $1.00 | $2,500 |
online banking and bill pay | Free | Free | Free | Free |
Telebank 866-208-2504 | Free | Free | Free | Free |
*An additional activity fee may apply for each transaction over the limit of six. See current Fee Schedule.