Savings Account

Features

• Available to individuals with earned income for the specific purpose of providing funds for and reducing the tax burden during retirement years
• Required minimum varies according to term and interest rate desired
• Contributions (deposits) are not tax deductible and not reported as income when withdrawn
• Interest is compounded daily for terms of 18 months; interest is compounded annually for terms of 19 through 60 months
• No minimum distribution amount is required at age 70-1/2

Features

• Available to individuals with earned income for the specific purpose of providing funds for retirement and reducing the tax burden while still employed
• Required minimum varies according to term and interest rate desired
• Contributions (deposits) may be deductible for the tax year in which they were made
• Interest is compounded daily for the term
• Account funds are reported as income when withdrawn
• Possible to contribute to an account for a non-working spouse

CDARS is a deposit placement service through Hawaii National Bank wherein certificates of deposit totaling over $250,000 receive full FDIC coverage* by participation in a network of FDIC-insured financial institutions. This nationwide network of FDIC-insured banks is managed by Promontory Interfinancial Network, LLC. You are encouraged to read the CDARS Deposit Placement Agreement and speak with your Warm-Hearted Banker.

Features

• Minimum: $25,000
• Maximum insurance coverage up to $30 million
• Competitive interest rates with varying terms offered

Features

• Available to individuals, partnerships, corporations and other organizations with funds to commit for specific terms
• Minimum deposit of $2,500
• Terms are in months; 1 month, 2 month, etc.
• Interest rates vary according to the deposit amount and term
• Interest payment options are flexible
• At maturity, certificates are automatically renewable for the same term at the then prevailing rate
• Substantial penalty for early withdrawal

Features

• Available to individuals for anticipated holiday expenses
• Minimum to open: $1
• Maximum balance: $10,000
• No maintenance fee
• Interest compounded daily
• Plans allow automatic deduction from other HNB accounts or from another financial institution's checking or savings account
• Handy coupon book available
• Account may be automatically renewed to eliminate signing new signature cards annually
• Account is closed and a check for balance plus interest is distributed at the end of October

Features

• Available to children ages 5 to 17
• Minimum to open: $10
• Maximum balance: $10,000
• No maintenance fee
• Account is in child's name only
• Annual percentage yield is higher than for regular savings account
• Account is automatically converted to a regular Savings Account after child's 18th birthday
• From age 12, ATM card permitted with parents' permission

Features

• Available to individuals, partnerships, corporations and other organizations
• Minimum to open: $100
• Minimum balance of $200 required to avoid monthly service charge of $3
• Interest compounded daily and paid monthly
• Can be used for overdraft protection in conjunction with your checking account
• Unlimited deposits and over the counter or ATM withdrawals
• Up to six pre-authorized automatic or telephonic transfers per calendar month
• Excessive withdrawal charge:
ATM or counter withdrawals - no charge