We're here to help make good things happen!
Below is a list of our most frequently asked questions. If your question is not listed below, contact your local branch or send us a secure message and someone from our team will get back to you shortly.
- Debit & Credit Card Questions
- General Account Questions
- Loan Questions
- Online & Mobile Banking Questions
- CD & IRA Questions
- Hours & Locations
Debit & Credit Card Questions
How do I report a lost or stolen Severn Savings Bank card?
To report a lost or stolen ATM or Visa Debit Card, please call 888-758-4900 or 888-297-3416 to immediately deactivate your card. Please do not send an email to report a lost or stolen card.
Can I make a loan payment with my debit card?
Yes, you can make a one-time loan payment of up to $5,000 to any Severn Savings Bank loan with no additional fee. Payments made before 4:00 p.m. EST Monday-Friday will be applied the same business day.
Make a loan payment with your debit card
Will I be able to make purchases in all countries/states using my Severn Savings Bank Visa debit card?
List of blocked countries and states
How do I apply for a Severn Savings Bank credit card?
Applying for a personal or business Severn Savings Bank credit card is simple! Below are some helpful resources about our credit card offers and links to apply online!
Apply for a personal credit card
Apply for a business credit card
How do I get a debit card (also known as, check card) for my Severn Savings Bank account?
Obtaining a debit card for your Severn Savings Bank checking account is easy! Please visit your local branch to get a debit card. With instant issue, you could have your new card as quickly as today. Debit/Check cards are linked to a Severn Savings Bank checking account and funds are taken directly from the account when used to make purchases at a retailer.
General Account Questions
What is my Severn Savings Bank routing number?
052100932
How do I add overdraft protection to my Severn Savings Bank account?
Overdraft protection for personal accounts
Overdraft protection for business accounts
How do I order checks for my Severn Savings Bank account?
You can order more checks for your Severn Savings Bank personal or business checking account through Harland Clarke’s online portal. Harland Clarke is our pre-approved, third party check provider.
How do I make a wire transfer from my Severn Savings Bank account?
If you're looking to do a wire transfer from Severn Savings Bank account, please call or visit your local branch for assistance.
How do I open an account with Severn Savings Bank?
Please visit your local branch to open an account!
How do I find my Severn Savings Bank account number?
For the security of our account holders and fraud prevention purposes, we do not advertise how to obtain an account number. If you need assistance, please call or visit your local branch for assistance. Because we care about the security of your account, be prepared to answer security questions prior to receiving any account information.
How do I set up direct deposit to my Severn Savings Bank account?
You will need to obtain a direct deposit form from your employer and list your Severn Savings Bank account details on the form. If you need your account details, please call, or visit your local branch. Because we care about the security of your account, be prepared to answer security questions prior to receiving any account information.
How do I change my address on my Severn Savings Bank account?
Please call or visit your local branch to fill out the necessary paperwork and initiate an address change on your account. If you’re currently enrolled in Online Banking, you may submit a request for an address change using this service.
How do I place a stop payment on a Severn Savings Bank check?
Due to the time sensitive aspect of stop payments, please call support@severnsavings.com or visit your local branch at your earliest convenience to place the stop payment. Customers currently enrolled in Online Banking can submit a stop payment request online.
Loan Questions
What are the loan rates at Severn Savings Bank?
We welcome a conversation with you about the rates for any of our loan products. Please call or visit your local branch to speak to a member of our team today.
How can I establish or remove my automatic loan payments?
There are several options for establishing or removing an automatic loan payment. Please call support@severnsavings.com and ask to speak to our Loan Operations department. A team member will be glad to discuss the various options with you.
How do I select the right mortgage option for my needs?
We offer several different mortgage financing options. Explore our mortgage loans page to learn more. Contact your local branch to start the process of purchasing your home through Severn Savings Bank.
What documents do I need to apply for a mortgage loan?
We have compiled a list of all the documents necessary for you to apply for a mortgage loan through Severn Savings Bank.
List of documents needed to apply for a mortgage
What is an Annual Percentage Rate (APR)?
The annual percentage rate (APR) is a rate that is commonly used to compare loan products from different lenders. Federal regulations require mortgage companies to disclose the APR when they advertise a loan rate.
The APR is designed to measure the “true cost of a loan,” and to prevent lenders from advertising a low rate and hiding fees and other charges. Use the APR as a way to compare loans, but do not rely on it. A borrower should always ask for a good faith estimate of your loan costs and payments from each lender you are considering. This is the best way to compare.
What is a FICO score?
A FICO score is a credit score used to determine the likelihood that a borrower will pay their bills. Developed by Fair Isaac & Company in the late 1950s, the FICO score has become almost universally accepted by lenders as a reliable means of evaluating a borrower’s credit worthiness.
A credit score condenses a borrower’s credit history into a single number, which is calculated using scoring models and mathematical tables that assign points for different pieces of information that help best predict future credit performance. Specific factors that are evaluated include:
- Amount of time credit has been established
- Percentage of available credit used
- Late payment history
- Length of time at current residence
- Negative credit information such as bankruptcies, defaults, collections, etc.
How do I obtain a prequalification letter when I am in the market for purchasing a new primary residence or second home?
Pre-qualifying is a preliminary assessment by a lender, usually a loan officer, to determine the dollar value of loan a borrower can be approved for. You will need to provide some basic information about your credit, debit, income and assets. If the bank can prequalify you successfully, we will provide you a pre-qualification letter, which may generally be used to indicate to a seller that the borrower is pre-qualified to purchase the house they are making an offer on. However, pre-qualification is not a commitment to lend.
What is a PMI?
PMI is Private Mortgage Insurance. It is provided by private mortgage insurance companies and helps protect lenders against the costs of foreclosure. PMI is generally required when a borrower buys a house with less than 20% down. It enables lenders to accept lower down payments than they normally would. In most cases, the lender will allow a borrower to cancel mortgage insurance when the loan is paid down to 80% of the original property value. If you are current on your loan payments, mortgage insurance will automatically terminate when the loan is first scheduled to reach 78% of the original property value, if the loan is secured by your principal residence.
Can I make my payments at any branch location?
If your loan is fully serviced by Severn Savings Bank then yes, you can make your payments at any branch location. Our branch associates will be glad to help you with this. If your loan is serviced through our partner, Dovenmuhle, commonly referred to as DMI, you will make your payments directly to them.
Instructions on how to make your payment will be provided to you at loan closing.
What items are included in my monthly mortgage payment?
Your monthly mortgage payment may include items commonly referred to as PITI (principal, interest, taxes and insurance). So, each payment will include the following: a payment to the principal balance of your loan, the related interest payment and if applicable, your escrow payment, which are monthly payments collected to pay for items like your hazard insurance, mortgage insurance and property taxes.
How long does the loan process take for a mortgage?
The entire mortgage process has several parts, including getting prequalified, getting the home appraised, and getting the actual loan approved. In a normal market, this process takes about 30 days on average. During high-volume months, it can take longer—an average of 45 days.
Online & Mobile Banking Questions
How do I sign-up for online banking for my Severn Savings Bank account?
If you are looking to enroll in online banking for your personal or business Severn Savings Bank account, visit our personal or business online banking page to begin the enrollment process.
Enroll in personal online banking
Enroll in business online banking
How do I sign up for mobile banking for my Severn Savings Bank account?
Simply download our mobile app, select enroll now and follow the instructions to enjoy access to your account, make deposits and more!
Does Severn Savings Bank offer mobile deposit?
If you have a Severn Savings Bank account, and you are enrolled in mobile banking, you can deposit a check right from your smartphone. If you’re not already enrolled in online banking, you’ll first need to download our mobile app and select ‘Enroll Now’ to begin the enrollment process.
How do I deposit a check on my phone to my Severn Savings Bank account?
Mobile check deposit is one the many convenient services that Severn Savings Bank offers. Please visit our mobile banking page for more details and instructions.
How do I login to my Severn Savings Bank online banking account?
To login to your Severn Savings Bank online banking account, click on the LOGIN option on the top right of our web page. Enter your ‘Access ID’ and ‘Passcode’ to gain access to your account(s).
How do I login to my Severn Savings Bank mobile banking account?
If you already have the Severn Savings Bank app downloaded on your phone or tablet, simply click on the app icon and enter your ‘Access ID’ and ‘Passcode’ to gain access to your account(s).
How do I get my statements electronically?
Login to your online banking and click on the eStatements tab. Follow the steps to have your future statements delivered to your online banking.
Please note: You may need to enable Pop-Ups
CD & IRA Questions
How much can I contribute to an IRA?
The IRS sets annual limits on contributions each year. The contribution limit for 2020 is $6,000, or $7,000 if you’re age 50 or older. Please refer to the IRS contribution limits for more details.
Is my IRA contribution deductible on my tax return?
It depends on the type of IRA you have, if you have a retirement plan at work or if your income exceeds certain limits. Please consult with your tax advisor for more details.
What are the CD rates at Severn Savings Bank?
We welcome a conversation with you about the current rates for any of our CD products. Please call or visit your local branch to speak to a member of our team today.
Hours & Locations
What are the hours at Severn Savings Bank?
List of branch locations and hours
Where are Severn Savings Bank ATMs located?
A complete list of our ATMs can be found on our locator page. Severn Savings Bank is part of the Allpoint Network, which means with your Severn Savings Bank debit or ATM card, you have access to over 55,000 ATMs worldwide surcharge-free.
Where are Severn Savings Bank branches located?
Our locations page contains a list of our branch locations, along with branch management contact information and details about each of our branches.
How can I find the nearest Severn Savings Bank branch or ATM?
Use our branch locator to enter in your current location and find the nearest Severn Savings Bank branch or ATM to you.
