CS&L’s Comet Classic Account is the perfect compromise between the convenience of our Savings account and the great returns of our Certificate of Deposit. This account is ideal for students looking to deposit weekly paychecks to save for irregular expenses. The terms of our Comet Classic are as follows:
- A minimum deposit of $25.00 is required to open a Comet Classic Savings Account. Your account will earn interest at the annual rate of .75%. Interest is figured on your average daily balance compounded monthly. This is the current rate and is subject to change.
- This is a deposit only account and you may deposit as often as you like.
- You must choose from one of the following maturity dates: Winter Break, Spring Break, or Summer Break.
- Withdrawing money before the maturity date will result in no interest being earned for that month and a service fee charge of $2.00
- Passbooks will be given to account holders; however, they are not needed to make transactions.
- There is no deposit limit on this account.
- A parent authorization form will be required to open a Comet Classic Account.