A savings account is a type of deposit account that allows you to earn interest on your deposited funds while still having access to your money when you need it. Unlike a checking account, it’s designed for saving rather than frequent spending.
You can open a savings account by visiting any of our banking centers or applying for Kasasa Saver® or Star Savings online.
The minimum balance for opening a savings account varies depending on the account you choose. Please refer to the table on our savings page for more information.
You can make as many deposits a month as you’d like, however withdrawals are typically limited to 6 free withdrawals a month. This is set up to encourage saving your money. Please refer to your account terms for more information.
Choosing a savings account requires careful consideration of your financial goals and what the savings account offers, like Annual Percentage Yield, Fees, Minimum Balances, Accessibility, Interest Payment Frequency, and additional money management features that your bank may offer. Texas First Bank offers remote mobile check deposit, budgeting tools, credit score reporting, and more.
Yes, savings accounts typically earn interest. The bank pays you a percentage of your balance, usually calculated daily and paid monthly. The interest rate may vary depending on the type of account.
APY stands for Annual Percentage Yield, a standardized way to express how much compounded interest you’ll earn on your savings over a year. The higher the APY, the greater the interest you’ll earn.
Yes, Texas First Bank allows customers to open Kasasa Saver and Star Savings accounts online. Get started today!
Yes, you can open multiple savings accounts. The benefits of having separate accounts include allocating funds for different goals, such as travel, college, or emergency savings. Multiple accounts can also help you take advantage of different interest rates, allowing you to earn a larger return on funds you plan to keep in the account for extended periods.
Yes, your savings account is insured by the FDIC up to $250,000.
You can transfer using online banking , mobile banking, or visiting one of our convenient locations to wire transfer or ACH funds transfer.