Build a Buffer While Earning Interest

Personal Savings Account

Open a personal savings account to help you plan ahead while staying prepared for the unexpected.

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Personal savings account

Choose the Best Personal Savings Option

Personal savings options
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Savings

A simple, reliable account to manage everyday saving.

 

  • Eligibility: Any individual
  • Minimum Opening Deposit: $10
  • Monthly Maintenance Fees: $5. No charge with an average daily balance of $100 or more.
  • Interest Features: Variable tiered rate¹. Interest will be compounded and credited monthly.
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High Yield Savings

Earn more on every dollar with a higher interest rate.

 

  • Eligibility: Any individual
  • Minimum Opening Deposit: $10,000
  • Monthly Maintenance Fees: $5. No charge with an average daily balance of $500 or more.
  • Interest Features: Variable tiered rate¹. Interest will be compounded and credited monthly.
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1Royal Business Bank uses variable interest rates for checking, money market, and savings accounts, the interest rate and annual percentage yield (APY) for your account depend upon the applicable rate tier. The interest rate and APY for these tiers may change at any time. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). To obtain the annual percentage yield, you must maintain a minimum average daily balance (ADB). We use the ADB method to calculate interest on your account. If you close your account before interest is credited, you will not receive the accrued interest. Interest is compounded and credited to the account monthly. Fluctuations in rate tiers and fees may reduce earnings on the account.

Terms and Conditions apply.

Please see our Fee Schedule and TISA disclosures for detail information.

Royal Business Bank Benefits

Why Choose a Personal Savings Account?

A savings account is the first step toward building financial stability and future growth.
  • 24/7 Online Banking2
    Access your online savings account anytime, anywhere.
  • High Yield Savings
    Put your money to work with a high-yield account that helps you reach your goals sooner.
  • FDIC Insured
    Your deposits are backed by Federal Deposit Insurance Corporation (FDIC) insurance. Up to $250,000 per depositor, per ownership category.

2To access online or mobile banking, you must first enroll in our online banking services by visiting our branches. Internet, text and wireless data fees may apply depending on your plan, and Royal Business Bank charges no fees for our online and mobile banking services.

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Personal savings account benefits
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Is a Personal Savings Account Right for You?

A personal savings account earns interest and helps you reach your goals. See if it’s right for you.

Personal savings account for young professionals
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Young Professionals

A savings account gives you a secure place to set aside cash for unexpected moments, like car repairs or medical bills, so you can stay focused on what matters most.

Personal savings account for growing families
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Growing Families

Whether it’s a dream vacation, your child’s future, or your first home, keep your goals in reach with a simple, dedicated way to grow your funds.

Personal savings account for newcomers to the U.S.
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Newcomers to the U.S.

Just getting started in the U.S.A? Savings account can help you manage your money, build a financial history, and prepare for what’s next.

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FAQs About Personal Savings

Need a Quick Answer?

Browse our most common questions before reaching out

A personal savings account is a safe, easy way to set money aside, whether you’re planning for something big or just building a financial cushion.

Your balance earns interest over time, helping your money grow while you’re not using it.

A savings account is meant for setting money aside. You typically won’t use it as often, but your balance earns interest, helping your money grow over time without doing a thing.

A checking account, on the other hand, is built for everyday spending, think groceries, bills, and other frequent transactions.

They sure do. When you put money into a savings account, the bank uses it for things like lending, and they pay you interest in return.

Most banks add the interest to your account once a month, but the exact timing can vary depending on where you bank.

That depends on the account.

At Royal Business Bank:

  • Our standard savings account has a minimum opening deposit of just $10, making it a great option if you’re starting small
  • Our  high-yield savings account is designed for those looking to earn more interest, and it requires a minimum opening deposit of $10,000

A high-yield savings account is a savings option that offers a higher interest rate than standard accounts. This means your balance can grow faster through compound interest.

It’s especially useful if you’re saving for medium-term goals like an emergency fund or a home down payment.