Personal Savings

PVNB Savings Accounts 

Whether you are saving for a down payment on your first home, starting a college fund for your child, looking for a way to pay for those holiday expenses, or putting away some money for a rainy day, Powell Valley National Bank has a savings account for you.

Crunched for time? Print and complete our Consumer Deposit Account Application, drop it by your local office. A Customer Service Representative will contact you when the forms are ready to be signed.

Passbook and Statement Savings Accounts

Save for a rainy day with PVNB’s free savings account!

  • Open your account today with a $100 opening deposit
  • No minimum balance requirements
  • No monthly fees
  • Unlimited deposits and withdrawals at the teller window
  • Transfers are limited to 6 transactions per month (automatic transfers, internet banking, telephone banking). A fee of $1.00 will be charged for each item in excess of six transactions during a statement cycle.
  • Interest compounded semiannually
  • FDIC insured
  • A variable interest earning account. The average daily balance method is used to calculate the interest on this account, and is compounded semiannually.
  • Account interest rate and annual percentage yield may change on your account at any time, at Powell Valley National Bank’s discretion.
  • Transfers from a Statement Savings Account to another account or to third parties by pre authorized, automatic, internet, or telephone transfer are limited to six per month with no transfers by check, draft, or similar order to third parties.

Christmas Club Savings Account

We can all use extra cash around the holidays. Open your Christmas Club savings account today and make the holiday season a little merrier!

  • $10 minimum opening deposit
  • Make your payments at any PVNB branch or set up automatic transfers from another PVNB account.
  • Interest accrues for the duration of the deposit and is credited at maturity.
  • Any withdrawal made from a Christmas Club Account before the club’s end will close the account.

Certificates of Deposit

Lock in your rate today with an FDIC insured CD and the term that best fits your needs.

  • $500 minimum investment
  • Varying CD terms available of 6 months to 5 years
  • May be subject to early withdrawal penalties
  • FDIC insured

 

IRAs (Traditional and Roth)

Start planning your retirement with a PVNB IRA. Our IRAs are safe and secure. We offer Traditional and Roth IRAs. You can work with a Customer Service Representative to choose the best product and term for you. We recommend you consult with your tax advisor or visit the to get started.

Traditional IRA
  • Interest earned on a Traditional IRA is not taxable in the year it is received. Your IRA earnings are not subject to taxation until they are withdrawn from the account.
  • The tax deferred Traditional IRA allows you to earn more money on your pre tax contributions, allowing your investment to grow larger than if taxes were paid over time.
  • Some IRA account holders are eligible to deduct IRA contributions from their Federal income tax.

Roth IRA
  • Contributions are not tax deductible, but earnings accumulate tax-free. Distribution of earnings is tax free.
  • No mandatory withdrawal age.
Who to contact
Jonesville
Rachel Marshall
Crissie Robinson

Pennington Gap
Sharon Garrett

Big Stone Gap
Candice Lane
Paula Lawson
Linda Thomas

Wise
Cassie Dotson
Missy Cantrell

Duffield
Kelli Page
Vickie Bishop

rmarshall@powellvalleybank.com
crobinson@powellvalleybank.com


sgarrett@powellvalleybank.com


clane@powellvalleybank.com
plawson@powellvalleybank.com
lthomas@powellvalleybank.com


cdotson@powellvalleybank.com
mcantrell@powellvalleybank.com


kpage@powellvalleybank.com
vbishop@powellvalleybank.com