Savings
Managing your savings has never been easier. Jackson Savings Bank, SSB offers a variety of account options, from convenient passbook savings and youth accounts to higher-yield Money Market Passbook Accounts and IRAs. With low fees and competitive interest rates, our accounts are designed to help you save effortlessly and plan for the future.
Types of Savings
Passbook Savings
With a passbook savings account, there are no statements to manage. All transactions are recorded in your personal savings passbook. The minimum balance to open this type of account is $100.00. With a variable interest rate and very little fees, this account offers an easy way to save money.
Youth Savings
With a youth savings account, there are no statements to manage. All transactions are recorded in your personal savings passbook. The minimum balance to open this type of account is $25.00. With a variable interest rate and very little fees, this account offers an easy way to save money.
Money Market
Enjoy a higher interest rate on your savings with a Money Market Passbook Account. The minimum opening balance for this account is $1,000.00.
IRA
With a minimum opening balance of $500.00, our 18 month IRA – Certificate of Deposit account will help you save money for your future. Contact us for our current rates or visit one of our IRA specialists for further information.
FAQs
What types of home loans does Jackson Savings Bank offer?
Jackson Savings Bank offers a variety of home loan options, including competitive fixed and adjustable rate mortgages. We provide up to 90% financing for traditional homes, modular homes, and other types of manufactured housing. We also offer specialized financing for rural properties and VA loans for eligible veterans.
Can I get financing for a modular or manufactured home?
Yes, we finance modular homes and manufactured housing just like traditional site-built houses. We offer up to 90% financing for existing modular homes and 80% financing for construction loans. Additionally, we provide 25-year adjustable rate loans for manufactured homes with a fixed rate for the first 5 years.
What are USDA loans, and how can I apply for one?
USDA loans are designed for homes in rural areas as defined by the U.S. Department of Agriculture. These loans typically do not require a down payment and offer fixed interest rates. Contact us for more details on eligibility and application procedures.
What benefits do VA loans offer?
VA loans are available to eligible veterans and offer benefits such as no down payment, no mortgage insurance requirements, and generally lower credit score requirements. These loans are guaranteed by the U.S. Department of Veterans Affairs, providing additional security and favorable terms.
What should I know about adjustable rate mortgages?
Our adjustable rate mortgages feature competitive rates and provide up to 90% financing. These loans come with fixed rates for an initial period (e.g., 5 years) and adjust annually thereafter. They can offer lower initial rates compared to fixed-rate loans, potentially saving you money in the early years.
