Saving for a vacation, your child’s education, retirement, or just a rainy day? Let us help you navigate the options and set you up with the right plan!

Bank of the James Savings Accounts


This traditional savings account offers a modest interest rate with no service fees if minimum balance requirements are met.


Our premium savings account requires a higher minimum balance than Statement Savings, but offers a higher interest rate and no service fees if minimum balance requirements are met.


Our minor savings account is designed to encourage saving at a young age by offering an interest-bearing account without a minimum balance requirement.


This classic interest-bearing savings account requires a low open amount and requires a minimum maintained balance of $1000.

Individual Retirement Accounts

Start growing your savings for the future.

Individual Retirement Accounts, known commonly as IRAs, can be an important tool in planning for your retirement. Many IRAs offer tax advantages to qualified owners ranging from tax deductions to deferred taxes on interest earned, to non-taxable income in retirement. Consult your tax advisor about whether an IRA would be advisable, and which type of IRA will best suit your needs. We can help you find the IRA your adviser has recommended.

The following briefly describes many of our Individual Retirement Account programs. For complete details contact one of our branch offices. Note that normal account rules and regulations apply and the following is not intended to offer a complete description of the accounts.

Our Traditional IRA has a fixed contribution amount with a guaranteed interest rate and a stated maturity ranging from 6 months to 5 years and can be rolled over at maturity at then available current rates and maturities. A Traditional IRA contribution may be tax deductible and is subject to annual limits.

Our Community Market IRA offers the flexibility of allowing periodic contributions over time and has no set maturity date. The variable interest rate may change weekly. A Community Market IRA contribution may be tax deductible and is subject to annual limits.

Roth IRA and SEP-IRA (Simplified Employee Pension) Plans are also available. A Roth IRA contribution is not tax deductible. A SEP-IRA contribution may be tax deductible. Both plans are subject to annual limits. Our Customer Service Representatives can assist you with information about these plans.

If you have retired or changed jobs and are about to receive a distribution from a qualified pension plan, you may transfer these funds into a Rollover IRA.  Your tax advisor can advise you of the type of IRA to choose for your rollover funds, and our customer service representatives can assist you in implementing what your advisor recommends.

Health Savings

user on laptop with stethoscope

Have a high-deductible health plan? Start saving.

Health Savings Accounts (HSAs) were created in 2003 so that individuals covered by high-deductible health plans could receive tax-deferred treatment of money saved for medical expenses. Generally, an adult who is covered by a high-deductible health plan (and has no other first-dollar coverage) may establish an HSA. The Bank of the James Health Savings Account offers a preferred interest rate and unlimited check writing for a reasonable monthly fee.

*Please note that Bank of the James in not engaged in rendering of tax, investment or legal advice. All accounts are subject to credit approval. Service charges and fees could reduce earnings. For complete details on our checking accounts and related products and services, please contact one of our branch locations.

Certificate of Deposit

Earn interest safely and securely with a Bank of the James Certificate of Deposit.

A Bank of the James’ Certificate of Deposit will allow you to earn interest safely and securely with a guaranteed interest rate with maturities varying in length from 6 months to 5 years.

To see all options, please contact your local branch.

Christmas Club

Start saving for a special event or the holidays – all year round.

Bank of the James’ interest-bearing Christmas Club Account is an excellent way to save for the holidays or a special event. At the completion of the club year, your balance will be paid out by an automatic deposit to your checking or savings account at Bank of the James or another financial institution. A $10 processing fee will be charged if a check is required.

  1. You decide how much to save and how often – you can even schedule automatic deposits from another Bank of the James account into your Christmas Club Account.
  2. You make deposits to your Christmas Club Account throughout the year.
  3. The Account is renewable annually, so you can start saving for the next year right away!

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