Escrow Savings Account
This account provides a convenient and simple solution to save for your real estate tax and mortgage insurance payments.
You can transfer the funds from your Escrow Savings Account to your checking anytime without a penalty to pay your taxes or insurance premiums. This transfer can be made via our NetTeller Internet Banking, Bank-By-Phone system, or by visiting or calling any of our 17 community offices.
- Summary
- Interest is compounded quarterly
- No minimum balance requirement
- Makes saving money easy
- FDIC insured
- How does it work?
It's simple:
- 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.
