Escrow Savings

This account provides a convenient way to save for real estate tax and mortgage insurance payments. We'll help you estimate what your tax and insurance will cost annually to figure out a payment plan. Then we can set up a recurring automatic transfer; how much and how often is up to you. Plus, you can make a transfer any time -- without penalty.

Summary
  • Save money specifically for real estate tax and mortgage insurance payments
  • Earn interest, compounded quarterly
  • No minimum balance requirement
  • Convenient automatic transfer cuts down on mistakes and late payments
  • Make manual transfers at any time without penalty via
  • NetTeller online banking
  • Bank-by-Phone
  • Visit a branch location
  • FDIC insured
How does it work?
  • We'll help you estimate what you'll need each year to pay your real estate taxes and your homeowners insurance
  • We'll break that total down into an amount that you can pay monthly, bi-weekly, or weekly
  • We'll set up an automatic transfer of the agreed-upon amount from your First Citizens Checking Account into our interest-bearing Escrow Savings Account.

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