To open a savings account with Astoria Federal Savings Bank, you must provide an opening deposit of at least $500, according to AstoriaBank.com. Astoria Bank does not charge any additional fees to open the account.
Astoria Bank provides two savings accounts to consumers: Passbook Savings and Statement Savings. Both accounts are FDIC-insured and earn interest, says AstoriaBank.com. The Passbook Savings account does not offer statements or online access. Interest is credited on a quarterly basis and is recommended for customers who do not want to access their account very often. The Statement Savings account comes with free online account access, an ATM card and monthly statements. Interest is credited to the account every month.