Personal Savings

From vacations and other short-term financial goals to college and other long-term plans, savings accounts at Ocean City Home Bank offer the ultimate combination of security and convenience. You can begin saving with a balance of just $50, and with a balance of just $300, your account will begin to earn interest. The more you save, the more interest you earn with our tiered interest rates. To access your funds quickly and easily, simply link your account to an ATM card.

$50 to open; $300 to earn interest.

  • Can be linked to an ATM card
  • Combined statement is required for customers who do not use online banking.
  • Interest earned according to the following tiers:
    • $300-$24,999
    • $25,000-$49,999
    • Over $50,000

Activity restrictions apply. Please see account opening disclosures.

When you want to earn a competitive interest rate, while keeping your savings safe and secure, a Certificate of Deposit at Ocean City Home Bank is the perfect solution. With our low minimum opening balance requirement, you can begin saving immediately, and with our wide range of terms, from 3 months to 7 years, you can choose the investment period that allows you to maximize your investment and access your funds when you need them.

If you want to remove the stress – and the debt – from holiday shopping, open a Holiday Club Account at Ocean City Home Bank. Simply decide now how much you want to spend this holiday season, and then choose the weekly payment amount required to accumulate your desired amount. Contribution options range from $1 to $25 per week, giving you the flexibility to design the plan that fits your budget. Direct deposit is required, making this a simple way to ensure that your holiday shopping is funded automatically.

Offered to children up to age 12, Cody’s Kids Club is an account designed to teach children the value of money. This special statement savings account includes a welcome kit with a Cody dog toy and all the tools a child needs to begin saving. Each time a deposit is made in person, the club member receives a gift from Cody’s “dog bone," and twice each year, members receive “Dog Tales,” a fun and educational newsletter that teaches the importance of spending and saving wisely.

EZ IRA Account
An 84 month EZ IRA offers the stability of a fixed rate Certificate, while allowing the account owner to make weekly, bi-weekly, or monthly contributions in any denomination. The low minimum balance of $25 allows virtually anyone to begin setting aside savings for retirement. Max yearly contribution amounts are subject to limits set forth by the Internal Revenue Service.

Traditional IRA Accounts
A Traditional IRA offers tax-deferred earnings, and for some individuals, the ability to take a deduction each and every year! Consult your accountant to discuss tax liability.

Roth IRA Accounts
Contributions to a Roth are not deductible. However, if the requirements are satisfied, distributions, including earnings, are tax-free! Consult your accountant to discuss tax liability.

SEP IRA Accounts
A SEP (Simplified Employee Pension) is a retirement plan set up by a business owner/employer. The business owner may be a sole proprietor, a partnership or a corporation.

A Savings Incentive Match for Employees (SIMPLE) is an employer-sponsored retirement plan in which contributions are made to employee's SIMPLE IRAs.

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