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Malaga Bank is participating in the FDIC's Transaction Account Guarantee Program. Under that program, through December 31, 2010, all non-interest bearing transaction accounts are fully guaranteed by the FDIC for the entire amount in the account. Coverage under the Transaction Account Guarantee Program is in addition to and separate from the coverage available under the FDIC's general deposit insurance rules. |
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PERSONAL BANKING |
At Malaga, we are committed to providing a personal banking experience that caters to today's busy lifestyle. Our personal bankers can help you find accounts that fit your needs and continue to work with you to realize and achieve your personal financial goals.
Choose from a variety of products and services; from checking accounts to lines of credit and personal loans, our personal bankers are here for you!
Checking and Money Market Accounts
No-Fee Checking
You can open this account with as little as $100 and there is no monthly service charge or minimum balance required. You'll receive one free box of Malaga Bank checks each year.
Unlimited Checking
This account is designed for those who carry higher balances. Avoid a monthly service charge by maintaining the minimum daily balance of $500.
Student Checking
Like our No-Fee checking you can open this account with as little as $100. There is no monthly service charge or minimum balance required. Available to students 16 years of age when opened as a joint account with a parent or guardian.
Preferred Checking
Open this account with only $100 and start earning interest right away. Plus, receive image checks in your monthly statement.
Senior Checking (55+)
Open this account with as little as $100. The low monthly service charge can be waived with a minimum daily balance of $500 or with direct deposit. Receive one free box of Malaga Bank checks each year.
Premier Market Account
This account earns a higher rate of interest than a checking account and still provides you with the flexibility to make deposits and withdrawals anytime.
Malaga Market Account
This account earns a higher rate of interest than a checking account and still provides you with the flexibility to write up to 6 checks per statement cycle, and make deposits and withdrawals at anytime.
| Account | Minimum Deposit | Minimum Balance Requirement | Monthly Service Charge | Accrues Interest | Check Writing | ATM Card | Debit Card | Online Banking |
|---|---|---|---|---|---|---|---|---|
| No-Fee Checking | $100 | N | N | N | Unlimited | N | Y | Y |
| Student Checking1 | $100 | N | N | N | Unlimited | Y | N | Y |
| Unlimited Checking | $100 | $500 | $72 | N | Unlimited | N | Y | Y |
| Preferred Checking | $100 | $1000 | $102 | Y3 | Unlimited | N | Y | Y |
| Senior Checking (55+) | $100 | $500 | $54 | Y3 | Unlimited | Y | Y | Y |
| Premier Market Account | $1000 | $10,000 | $102 | Y3 | No | Y | N | Y |
| Malaga Market Account | $1000 | $10,000 | $102 | Y3 | Up to 6 checks per cycle | Y | N | Y |
1Must be 16 years or older when opened as a joint account with parent or guardian.
2Service charge applies when minimum balance requirement is not met.
3 Interest rate based on account balance.
4Service charge applies when minimum balance requirement is not met or direct deposit is not set-up.
Savings and Certificates of Deposit
Preferred Savings
This account gives you the high yielding interest rate of a certificate of deposit, plus the flexibility of a passbook account. With our unique tiered interest rate structure you will earn a higher interest rate as the balance in your account grows. Your funds are available to you at any time. You can access your money easily by stopping by our office to make a deposit, pick up a check, or withdraw money with your ATM card.
Preferred Savings for Minors (under 18)
This account is designed for our beginning savers; offering a low minimum opening deposit and no monthly minimum balance to maintain.
Senior Savings (55+)
This account gives you the high yielding interest rate of a certificate of deposit, plus the flexibility of a savings account. With our unique tiered interest rate structure you will earn a higher interest rate as the balance in your account grows. Your funds are available to you at any time. You can access your money easily by stopping by our office to make a deposit, pick up a check, or withdraw money with your ATM card.
Cash Management
With our unique tiered interest rate structure you will earn a higher interest rate as the balance in your account grows.
Certificates of Deposit
Malaga offers you the ability to select your own term and interest rate based on the amount you invest. You can choose a term as short as 32 days or as long as five years.
3 Month Liquid CD
This short term account pays certificate of deposit rates, allows unlimited deposits and the flexibility of one penalty free withdrawal of up to 50% of the balance during each term.
5 Month Liquid CD
This short term account pays certificate of deposit rates yet allows you the flexibility of unlimited deposits and two penalty free withdrawals of up to $50,000 combined during each term.
Malaga Kids CD
When you open a kids account, Malaga Bank will give you a piggy bank to get started.
Jumbo CD
This account is ideal for customers looking for a competitive rate on larger balances; available in terms from 32 days to 2 years.
Individual Retirement CD
We offer Traditional, Roth and Simplified Employee Pension Plans(SEP)
| Account | Minimum Deposit | Minimum Balance Requirement | Monthly Service Charge | Accrues Interest | Check Writing | ATM Card | Debit Card | Online Banking |
|---|---|---|---|---|---|---|---|---|
| Preferred Savings | $100 | $500 | $51 | Y2 | None | Y | N | Y |
| Preferred Savings - Minors | $100 | N | N | Y2 | None | N | N | Y |
| Senior Savings | $100 | $500 | $53 | Y2 | None | Y | N | Y |
| Cash Management | $25,000 | $10,000 | $151 | Y2 | None | Y | N | Y |
| Account | Minimum Deposit | Deposits | Withdrawals | Term | |
|---|---|---|---|---|---|
| Fixed Rate CD | $1000 | No | N4 | 32 days-2yrs | |
| Malaga Kids Account | n/a | Unlimited | N4 | 1 Year | |
| 3 Month Liquid CD | $5000 | Unlimited | 1 | 3 Months | |
| 5 Month Liquid CD | $5000 | Unlimited | 2 | 5 Months | |
| Jumbo CD | $100,000 | No | N4 | 32 days-2yrs | |
| IRA CD | $1000 | No | N5 | 32 days-2yrs excluding liquid accounts | $25 Annual Trustee Fee |
1Service charge applies when minimum balance requirement is not met.
2Interest rate based on account balance.
3Service charge waived with direct deposit
4Penalty for early withdrawal
5Exception applies to Required Minimum Distribution (RMD).
Services
Malaga Bank offers convenient services to meet your personal banking needs.
Electronic Services…secure and convenient
- Online Banking
- E-Statements
- Mobile Banking
- 24 hour Telephone Banking
- Bill Payer
- Direct Deposit
- ATM and VISA Debit Cards
Financial Services…valuable and affordable
- Personal Loans
- Overdraft Lines of Credit
- Travelers Cheques
- U.S. Savings Bonds
- U.S. Savings Bond Redemption
- Coupon Redemption
- Wire Transfers
- Telephone Transfers
Personal Banking Services…flexible and reliable
- Safe Deposit Boxes
- Notary Service
- Medallion Signature Guarantee
- Trust Deed Note Collection
- Night Depository
- Bank by Mail
- Photocopying
Deposit Calculators
These financial calculators require a small download for them to run. This download is safe and secure and only takes a few minutes of your time.
Click on the links below to access the following calculators:
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