Personal Savings Accounts

You have big plans and Kensington Bank is here to help.

Whether it’s a down payment on a new home, that big vacation, or just a rainy day, Kensington Bank has your future covered.

Which Savings Account is Right for You?



Information for Money Market Savings





  • $0 – $24,999
  • $25,000 – $99,999
  • $100,000+

$5 Monthly Fee if minimum daily balance not met

Free Digital Banking



Information for Basic Savings




Variable Annual Percentage Yield

$5 Monthly Fee if minimum daily balance not met

Free Digital Banking

Special Perks for Youth Ages 0-18

Open a Basic Savings Account and enjoy these benefits:

  • $5 minimum to open
  • Gift when you open your account
  • No minimum balance required & No fees
  • Other fun benefits!

Stop by any of our offices, give us a call at (866) 965-2419, or contact us.

Certificate of Deposit

What is a Certificate of Deposit (CD)?

A Certificate of Deposit (CD) is a savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate and can be issued with minimum balance. When you open a CD, your money is on deposit for a specific time period. For agreeing to keep it on deposit for a specified time period, you earn more than you would in a regular savings account. If you cash it in before its maturity date, you pay a penalty. Speak with your banker to learn about the most up-to-date interest rates on terms available!

  • 12 Month
  • 18 Month
  • 24 Month
  • 36 Month
  • 48 Month

CD terms are offered by Kensington Bank as both regular funds or IRA (Individual Retirement Account), Traditional or Roth. CLICK or TAP HERE for more information on IRAs.

Raise Your Rate CD

Lock into a great, guaranteed interest rate today AND enjoy
peace-of-mind knowing you can RAISE YOUR RATE if rates go up.

With Kensington Bank’s Raise Your Rate CDs, you may adjust the rate once during the term to the rate being offered on our standard 24 and 48 months certificate of deposit (CD) at the time of rate adjustment. Additional terms – Penalty for early withdrawal, fees could reduce earnings, automatically renewable to a standard 24 and48 months CD. We reserve the right to decline or limit deposits.

Certificate of Deposit Account Registry Service ® / CDARS ®

Kensington Bank is proud to offer two robust programs through Promontory ®, that gives you access to multi-million dollar FDIC insurance on deposits so you can enjoy yield, peace of mind, and flexibility all at the same time.

Businesses, nonprofits, government entities, advisors (trustees, trust officers, lawyers, accountants, financial advisors/planners, and other fiduciaries), and individual investors can:

  • Earn CD-level returns, which may compare favorably with those of Treasuries and other high-quality investments.
  • Satisfy requirements for insured deposits.
  • Enjoy the time-saving conveniences associated with one relationship, one interest rate per maturity, and one regular statement.
  • Eliminate the need to track changing collateral values on an ongoing basis.
  • Avoid having uninsured deposits to footnote in financial statements.

One Bank

Everything is handled through Kensington Bank. Your large deposit is broken into smaller amounts and placed with other banks that are members of the CDARS Network. Then, those banks issue CDs in amounts under the standard FDIC insurance maximum, so that your investment is eligible for FDIC protection. By working directly with just one bank—our bank—you can receive insurance through many.

One Rate

You earn one rate per maturity on your entire investment—so you can forget about multiple rate negotiations and the need to consolidate multiple disbursement checks.

One Statement

You receive one regular account statement listing all of your CDs along with their issuing banks, maturity dates, interest earned, and other details. With CDARS, there’s no need to manually consolidate statements or track changing collateral values on an ongoing basis.

Stop by any of our offices, give us a call at (866) 965-2419, or contact us.

Individual Retirement Accounts (IRAs)

Life goes by quickly. It’s never too early to save for your retirement. An IRA offers special tax advantages to those who qualify. There are different advantages to each type of IRA as well as different requirements and limitations. Make sure you consult a tax advisor and learn more about IRA Contributions Limits and Eligibility Requirements for each type of IRA.

Put the power of compounding to work for you and build peace-of-mind with a retirement nest egg.1

Traditional IRA

  • Save for retirement with tax advantages
  • Contributions may be fully or partially deductible
  • Generally, savings in your traditional IRA (including earnings and gains) are not taxed until distributed

Roth IRA

  • Save for retirement with tax advantages
  • You cannot deduct contributions to a Roth IRA.
  • If you satisfy the requirements, qualified distributions are tax-free
  • You can leave amounts in your Roth IRA as long as you live

Simplified Employee Pension (SEP)

A SEP plan allows employers to contribute to Traditional IRAs (SEP-IRAs) set-up for employees. A business of any size, even self-employed, can establish a SEP.

  1. Subject to qualifications. $10 IRA transfer fee may apply.

Stop by any of our offices, give us a call at (866) 965-2419, or contact us.

Health Savings Accounts (HSA)

A Health Savings Account (HSA) is a tax-advantaged type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical expenses. By using untaxed dollars in a Health Savings Account (HSA) to pay for deductibles, copayments, coinsurance, and some other expenses, you may be able to lower your overall health care costs. HSA funds generally may not be used to pay premiums.

While you can use the funds in an HSA at any time to pay for qualified medical expenses, you may contribute to an HSA only if you have a High Deductible Health Plan (HDHP) — generally a health plan (including a Marketplace plan) that only covers preventive services before the deductible. The funds contributed to an account are not subject to federal income tax at the time of deposit. Your money grows tax-free and you can withdraw tax-free if you use the money for eligible medical expenses.1

You can enroll in an HSA-qualified health plan and sign up for an HSA during your organization’s annual open enrollment, but can open an HSA at any time with Kensington Bank. If you have a high-deductible health plan on your own, not offered through an employer, you can sign up for the plan immediately.


  • Contributions to the HSA are 100% deductible (up to the legal limit) — just like an IRA.
  • Withdrawals to pay qualified medical expenses, including dental and vision, are never taxed.
  • Interest earnings accumulate tax-deferred, and if used to pay qualified medical expenses, are tax-free.
  • Unlike a flexible spending account (FSA), unused money in your HSA isn’t forfeited at the end of the year; it continues to grow tax-deferred.
  • FDIC insured account
  • Unspent money in an HSA rolls over at the end of the year, so it’s available for future health expenses.
  • Contributions can come from you, your employer, a relative, or anyone else who wants to add to your HSA.
  • The money in your HSA remains available for future qualified medical expenses even if you change health insurance plans, go to work for a different employer, or retire. Essentially, your HSA is a bank account in your name, where you decide how and when to use the funds.

Contribution Limits

Contribution limits are frequently updated each year by the IRS. For up-to-date limits please visit the IRS Website.

  1. Subject to qualifications. $20 annual fee per account.

Stop by any of our offices, give us a call at (866) 965-2419, or contact us.