Christmas Club Account | VA & NC Savings Rates

Save for Christmas year-round

Make your holidays merrier than ever with more cash for gifts and celebrations

Start with $10 and build up

Open your Carter Bank Christmas Club Account and then schedule automatic transfers from your checking account.

Save all year for your special celebrations

Make the most of your savings with automatic transfers and flexible usage.

Earn competitive interest

You'll get more for your money so you can bring extra joy to your world.

Get your money before Christmas

Access your savings on October 20^th, giving you plenty of time to plan and shop.

'Tis the season for good times and bright smiles

Christmas is a time for family, for festivities and for giving. But playing Santa can cost a bit of money.

To take the strain off your winter time budget, we make it easy to save throughout the spring, summer and fall. Make regular deposits, earn daily interest at a competitive rate, and then enjoy all the jingle in your pocket when the holiday season rolls around.

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FAQs

What are the common uses of the Carter Bank Christmas Club account?

Funds can be earmarked for any purpose. Of course, our Christmas Club puts you in a position to save for your holiday spending rather than relying on credit cards with high interest rates to cover holiday purchases but they can also be used for any other end-of-year purchases. New accounts start each year on October 21^st and funds can be added at any point before they are paid out on October 20^th.

Is there a maximum deposit limit for the Christmas Club account?

Yes, the maximum deposit is $5,000 per customer and all funds are paid out on October 20^th via ACH payment. However, any savings not used in a given year can be used to reopen another Christmas Club account, helping to carry over additional budget to the following year's holiday season. Check out our Christmas Club page for current rates and account details. Ready to start saving for the holidays? Apply now to open an account today.

When is interest credited/compounded for Christmas Club accounts?

Christmas Club interest is compounded daily and credited to the Christmas Club quarterly, giving you the flexibility to save the amount you need, up to $5,000. If the Christmas Club is closed before interest is credited, the interest will be forfeited. Christmas Club interest is compounded daily. 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. Check out our Christmas Club page for current rates and account details. Ready to start saving for the holidays? Apply now to open an account today.

Is there a minimum deposit amount to open a Christmas Club account?

The Christmas Club account is a great way to save money during the year for holiday or other expenses. You can open your account today with a $10 deposit. A maximum of $5,000 may be deposited into this account and there are no annual fees for active accounts. Payouts are disbursed October 20^th of each year via ACH to the account of your choice. Automatic drafts from your Carter Bank checking accounts can also be established. Check out our Christmas Club page for current rates and other account details.

Click here to open an account today.

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