Savings

Whether you’re saving for a child’s college fund, a vacation or your next big purchase, Cathay Bank offers a variety of savings accounts designed to fit your lifestyle and financial goals. We offer competitive rates and added benefits to help you get more out of your savings account, along with free mobile banking to ensure your savings are always within reach.

24/7 account access

Access your account any time on mobile, online or by getting in touch with our team.

Easy account management

Manage and transfer funds between your deposit accounts from anywhere.

Automated loan payment

Make on-time payments to your Cathay Bank loan easy and convenient with our automated loan payment service.

More savings options

Grow your savings your way with an account made for your financial goals.

Features	Passbook Savings^{1, 5}	Statement Savings^{1, 5}	Student Savings^{1, 2, 5}	Smart Money Market¹	Optima Money Market¹	CDs^{1, 4}	IRA CDs^{1, 4}
May suit customers who are looking for:	A basic savings program and the ability to track your balance in a passbook.	A basic savings program with the convenience of a quarterly account statement.	An account to help children develop good savings habits.	A money market account that lets you earn higher interest rates with higher balance tiers.	A money market account that lets you earn higher interest rates with higher balance tiers.	A savings option that offers a fixed interest rate through maturity.	A tax-deferred savings option designed for retirement income.
Interest	Variable tiered rates³ Compounds daily Paid monthly	Variable tiered rates³ Compounds daily Paid monthly	Variable tiered rates³ Compounds daily Paid monthly	Variable tiered rates³ Compounds monthly Paid monthly	Variable tiered rates³ Compounds monthly Paid monthly	Fixed rate for term, ranging from 7 days to 5 years	Fixed rate for term, ranging from 7 days to 5 years
Minimum to open	$100	$100	$10	$5,000	$100,000	$2,500	$100
Monthly maintenance charge	$3	$3	None	$10	$50	None	None⁶
Minimum daily balance to avoid monthly maintenance charge	$500	$500	None	$5,000	$100,000	None	None

No ATM or Debit Card service allowed for Passbook Savings, Student Savings or CD. ATM Card only for Statement Savings, Smart Money Market and Optima Money Market.
Account converts to a regular Passbook Savings account when minor reaches age of 18 years and will be subject to the terms of the Passbook Savings, including assessment of a monthly maintenance charge if minimum balance requirement is not met.
Interest rate and Annual Percentage Yield (APY) may change after account opening without notice, at our discretion. The interest rate and APY paid depends on the balance tier into which the account's end-of-day balance falls. The interest rate that corresponds to the balance tier is paid on the full collected balance in the account at the end of day. Fees can reduce the earnings on the account.
A penalty will be imposed for early withdrawal. Fees can reduce earnings on the account.
An account statement will be generated at the end of each month when account activity includes an electronic funds transfer (ACH or ATM activity)
$12 annual administration fee and $15 account closing fee apply.