Regular Passbook Savings
from Valley National Bank

The Regular Passbook Savings Account is available for those who do not want to invest a large initial deposit. Customers will receive a Valley Passbook where their deposit records and withdrawals will be entered as they occur. The account has unlimited deposits and withdrawals, minimum initial deposit $100, no service fees if customers maintain an average daily collected balance of $100 per quarter. If below $100; $6 quarterly fee applies and no interest will be paid (waived in the 1st quarter after opening the account), no interest will be paid for any day the daily balance falls below $100 or if the account is closed before the end of the quarter. Also, interest is compounded daily, paid quarterly, and you are eligible for alternative banking privileges (record keeping only) and direct deposit.