Personal Savings

Start saving today. Your future self will thank you.

Dad playing with daughter in the park

Choose one of these three options to start saving

Saving

Ponce Savings Account

A great way to start saving!
Get started
Interest rate (APY)
0.10%
Minimum balance
$100
Monthly Service Fee*
$0*
Can be avoided if minimum balance is met
$5 monthly charge if minimum balance falls below $100
Market

Money Market Account

Keep a higher balance and earn a higher rate
Get started
Interest rate (APY)
0.15%
For balance between $1,500 - $50,000. Higher Balances Earn Higher Rates
Minimum balance
 $1,500
Monthly Service Fee*
$0
Can be avoided if minimum balance is met
$10 monthly charge if minimum balance falls below $1,500
Certificate

Certificate of Deposit

Keep funds longer in your account, and earn even more
Get started
Interest rate (APY)
3.80%
For 6 months Term. Longer terms Earn Higher Interests
Minimum balance
$500
Monthly Service Fee*
$0*
No service fee
Saving

Ponce Savings Account¹

A great way to start saving!
Get started
Interest rate (APY)
0.10%
Minimum balance
$100
Monthly service charge
$0*
Can be avoided if minimum balance is met
$5 monthly charge if minimum balance falls below $100
Market

Money Market Account²

Keep a higher balance and earn a higher rate
Get started
Interest rate (APY)
0.15%
For balance between $1,500 - $50,000. Higher Balances Earn Higher Rates
Minimum balance
 $1,500
Monthly service charge
$0
Can be avoided if minimum balance is met
$10 monthly charge if minimum balance falls below $1,500
Certificate

Certificate of Deposit3

Keep funds longer in your account, and earn even more
Get started
Interest rate (APY)
3.80%
For 6 months Term. Longer terms Earn Higher Interests
Minimum balance
$500
Monthly service charge
$0*
No service fee
Annual Percentage Yield (APY)4
See the full list of interest rates.
0.10%
0.15%
For balance between $1,500 - $50,000. Higher Balances Earn Higher Rates6
3.80%
For 6 months Term. Longer terms earn higher interest
Minimum Balance
$100
$1,500
$500
Monthly Service Fee
Can be avoided if minimum balance is met
$0
$5 monthly charge if minimum balance falls below $100 any day in the statement cycle
$0
$10 monthly charge if minimum balance falls below $1,500 any day in the statement cycle
$0
No service fee

Save for Retirement with IRA Accounts

Traditional IRA

Contributions made to a traditional IRA mean that, depending on your employment status and income level, you may be able to deduct all or some of your contribution on your income tax return, which reduces your taxable income.

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Roth IRA

A Roth IRA gives you the chance to invest money after taxes and then take the contributions and earnings out tax-free in retirement. Contributions to Roth IRAs are made after taxes are paid, so there is no tax deduction. Instead, the contribution grows tax-free. As long as you wait until you’re 59½ years old to withdraw funds, earnings will not be taxed.

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Save for your child’s education with Coverdell Education Savings Account

Speech bubble with "CESA" text

CESA

When you invest in a CESA, you don’t have to pay taxes on the earnings, which means your money has a chance to compound faster.

Withdrawals are free from federal taxes as long as you use the money for qualified education expenses, such as tuition, books, supplies, uniforms, room and board, computer equipment and internet service.

Get started
Smart Tree - new york community bank - Poncebank

Ponce Tip!

A CESA is an excellent option for anyone with children under 18. Parents, guardians, grandparents or anyone else can contribute up to $2,000 combined per year until the child reaches 18, and withdrawals are tax-free if used for educational purposes.

You know your money matters. Ponce makes it matter more.

You know your money matters. And Ponce makes it matter more.

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Invest in your community not climate crisis

Don’t let your money fund Fossil Fuel Developments
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Support a minority-led, minority-founded bank

We’re committed to bringing banking service to people that most large banks ignore
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Bank with purpose

Around $0.80 of every dollar you deposit with Ponce bank creates community financing5

Get Money Smart!

Free Financial Mastery courses at Ponce U. Knowledge is power and we're always willing to share ours.
Learn more