Bank of Hampton Roads Offers New Online eSavings Account


Availability: Market area includes Virginia, North Carolina, and Maryland

Virginia-based Bank of Hampton Roads is now offering 1.06% APY on its eSavings Account, which is only available online. The minimum opening deposit is $100, with a balance cap of $250K.

There is no minimum balance requirement, but a balance of at least $0.01 must be maintained for the account to remain open. There is a $3 fee for withdrawals in excess of six per quarter


The fine print on the promotion page states:

Exceeding these federally-established withdrawal limits could cause us to
move your account to a checking account, which allows unlimited withdrawals.

Thanks to DA reader, Sperry8, for the Forum post on this deal.


Headquartered in Virginia Beach, Virginia, Bank of Hampton Roads' market area includes Virginia, North Carolina, and Maryland.

As mentioned earlier, the eSavings account is only available online, but other Bank of Hampton Roads products can be opened by visiting any of seven North Carolina branches located in Elizabeth City (2), Edenton, Kitty Hawk, Moyock, Plymouth, and Raleigh, or 20 Virginia branches located in Chesapeake (6), Emporia, Norfolk (3), Richmond (3), Suffolk, and Virginia Beach (6).

The three branches located on Maryland’s Eastern Shore operate under the Shore Bank brand, just as some of the North Carolina branches conduct business as Gateway Bank.

Bank Overview

Bank of Hampton Roads (FDIC Certificate # 27125) has an overall health grade of "B+" at, with a Texas Ratio of 20.34% (above average) based on September 30, 2015 data. In the past year, Bank of Hampton Roads has increased its total deposits by $16.11 Million, an above average annual growth rate of 1.19%. Please refer to our financial overview of Bank of Hampton Roads for more details.

Bank of Hampton Roads was established in 1987 and through two mergers (Gateway Bank & Trust Co. in 2008 and Shore Bank in 2015) has grown to be the 12th largest bank in Virginia, with assets in excess of $1.6 Billion. The Bank’s holding company, Hampton Roads Bankshares, Inc. (Nasdaq:HMPR), is the largest financial center in Southeastern, Virginia.

How the eSavings Account Compares

When compared to the 195 Savings Accounts tracked by that are available to Virginia/North Carolina/Maryland residents, Bank of Hampton Roads’ eSavings APY currently ranks fifth.

The above rates are accurate as of 1/28/2016.

To look for the best nationwide Savings Account rates and the best Savings Account rates in your state, please refer to our Savings Account rates table or our new Rates Map page.

4.50% CD with Terms From 3 to 12 Months at Gateway Bank in NC and VA
Update 10/06/08: This CD special has ended. Please check the bank's website for the latest rates and specials.

Gateway Bank is offering a special 4.50% APY certificate of deposit with terms of 3, 6, 9 and 12 months. The minimum deposit is $2,500, and the maximum is $250K.

The bank has a history of great CD specials. In June 2007 they had a similar CD special but with a yield of 5.50%.

It appears that a branch visit may be required to open an account. Branches are located in several cities of North...

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5.62% 40-Month CD at a Virginia Bank (Bank of Hampton Roads).
Update 9/22/07: CD rates have gone down. Please check bank's website for latest rates.

Bank of Hampton Roads is offering a special 5.62% APY 40-month certificate of deposit. The minimum deposit is $10,000.

Opening accounts seem to require a branch visit. Branches are located in the Virginia cities of Chesapeake, Norfolk, Suffolk and Virginia Beach. The bank is FDIC insured (FDIC Certificate # 27125).

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5.50% 3-Month / 5.50% 12-Month CD at a North Carolina and Virginia Bank (Gateway)
Gateway Bank is offering a special 5.50% APY certificate of deposit. You are allowed to pick the term from 3 to 12 months. The minimum deposit is $2,500, and the maximum is $250K.

Branches are located in several cities of North Carolina and Virginia including Chapel Hill, Elizabeth City, Raleigh, Plymouth, Wilimgton, Chesapeake, Norfolk and Virginia Beach. The bank is FDIC insured (Certificate # 34861).

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