Online Banking
Sign Up!
Everybody wants to be a millionaire, but few have the savings discipline to get there. Your current savings, additional monthly savings and the rate of return you receive all go into saving to be a millionaire. However, it may not stop there. If you want to have a million dollars worth of purchasing power, you have to factor in inflation into your savings plan. That means that depending on the amount of time it takes you to save a million dollars you might have to have saved even more to have a million worth of purchasing power.
How interest is calculated can have a great impact on the interest earned by your account and how your savings grow. Compound interest arises when interest is added to the principal and when the interest that has also been added earns interest. You will see your account balance grow more quickly with accounts that pay interest more frequently. The "Annual Percentage Yield" or APY is the effective annual rate of return once the effect of compounding interest is factored in.
If you are already a saver, you might ask yourself the question "what if I save more"? Increasing your current savings rate by even 1% can yield significant results. Save even more, and the results are even better. The more you can save, and the longer you can save will open your savings up to the magic of compounding, or the ability to earn interest on your re-invested earned interest.
An extra layer of protection beyond a username and password that involves a second step in verifying your identity, such as through a text message with a temporary passcode, or a biometric factor like a fingerprint or facial scan.
Learn about Gate City Bank’s history through the decades, and see why this is only the beginning.
Want to stay up to date on Gate City Bank news? Easily access our latest press releases and media mentions!
Welcome home! Receive a $250 credit toward the closing costs on your first home.1
Try our simple mortgage amount calculator! It lets you account for your monthly budget, down payment, interest rate and more to find out how big of a home loan you could receive.
Quickly learn how much you could save on your home loan! Our user-friendly down payment calculator lets you easily compare two payment amounts.
1 This $250 credit only applies to first-time homebuyers purchasing a primary residence within 100 miles of a Gate City Bank location. Customers must have a Gate City Bank checking account. Other terms, conditions and qualifications may apply. The credit will show up on the mortgage loan at closing.
Email