Carter Savings Account

Dollar by dollar, you can build a brighter future

A strong savings strategy is the key to reaching your financial goals

Dream big, start small
All it takes is at least $50 to open your Carter Savings account¹ and start working toward your goals.
Stay flexible
Make deposits by transferring from checking, using Online or Mobile Banking, or visiting Carter Bank branches.
Earn competitive interest
Make regular contributions to your deposits, helping to grow your money even faster.
Get overdraft protection
If you overdraw your checking account, you can have transfers in place to transfer money from savings to cover the shortfall.
It's more than just a "rainy day" fund

Common sense says it's a good idea to set aside money for unexpected expenses and financial emergencies. But take a moment to imagine everything else your savings might do someday - pay for vacations, make special purchases, cover college costs, and more. Start off with as little as $50, schedule automatic transfers to boost your balance, and feel good that you're taking the right steps to build a better tomorrow with our competitive rates.


For contact information, including phone numbers, email addresses, and online inquiries, please visit our "Contact Us" page. You can also call us at (833.275.2228), or visit us at one of our locations. To find a location click here.

Checking your way

Get checking account options, all with convenient digital tools.

1 Requirement: $50.00 minimum to open an account. 30 day grace period to get to minimum balance.

2 Christmas Club Disclosure APY = Annual Percentage Yield. Maximum deposit is $5,000 per customer. The daily balance method is used to calculate the account interest. This method applies a daily periodic rate to the principal ledger balance in the account each day. Unlimited deposits up to the $5,000 maximum deposit limit.  No withdrawals without closing the account.  If account is closed before interest is credited interest will be forfeited. $15.00 early closeout fee if account is closed within 90 days of account opening. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate daily. Fees may reduce earnings.

3 Initial Annual Percentage Yield (APY) assumes, principal and interest remain on deposit until maturity. Interest is compounded daily and credited quarterly on the anniversary date. To earn APY, the minimum balance must be $100.00. A penalty for early withdrawal will be imposed. Fees may reduce earnings. Annual Percentage Yield (APY) is accurate as of 12.15.23. Penalties for early withdrawals: For maturities of less than one year, a 30-day interest penalty will be assessed. For maturities of one year or more, a 90-day interest penalty will be assessed.

All promotional offers, products and services offered by Carter Bank are subject to updates, modifications and/or termination at any time.

4 Rates subject to change. At our discretion, we may change the interest rate daily. Fees may reduce earnings. (This includes transfers for overdraft or insufficient funds transfers). The Annual Percentage Yield (APY) and balance for Carter Bank Premium Money Market Account are accurate as of 5.22.2023. APY is variable and subject to change based on the balance in the account; $0-$2,499.99 at 0.00% / $2,500-$24,999.99 at 0.26% / $25,000-$49,999.99 at 3.26% / $50,000-$99,999.99 at 3.37% / $100,000-$499,999.99 at 3.46% / $500,000-$999,999.99 at 3.56% / $1,000,000 and above at 4.01%. To earn the advertised APY, the minimum balance must be $25,000.00. Charges and fees may reduce earnings. Premium Money Market Account is available for personal and business customers.
$2,500 minimum balance to avoid fees. 30 day grace period to get to minimum balance.

Carter Bank is a full-service financial institution with locations throughout Virginia and North Carolina.