Let Your Money Grow with Farmers State Bank Personal Savings Accounts
Whether you’re just starting to save or are an experienced investor, Farmers State Bank offers a range of savings account options designed to meet individual financial goals. With attractive features including ATM cards, online banking, automatic transfers, telephone banking, and coin counting, our savings accounts put you in control of your money.
Secure, Flexible, and Rewarding
Our Savings Accounts offer you the perfect balance of security, flexibility, and rewards. Here are the key features:
1. Minimum Balance and Service Charges
To open a Savings Account, you’ll need a minimum deposit of $25. Maintain a minimum balance of $100 to earn competitive interest rates. Please note that an average balance below $100 may incur a $1.50 service charge per quarter.
2. Access and Withdrawals
Enjoy up to 12 free withdrawals in a quarter, with a fifty-cent fee per withdrawal for all additional withdrawals. However, there are no fees for minors and seniors. We also offer Custodial Savings Accounts for Youths to help them start their savings journey.
Explore Additional Savings Solutions
At Farmers State Bank, we go beyond traditional savings accounts to provide a comprehensive range of financial solutions. Take a look at our offerings:
Money Market Savings Accounts
Our Money Market Savings Accounts offer tiered interest rates based on your balance, ensuring your money grows at a competitive rate. Avoid the $5 monthly service charge by maintaining an average balance of at least $2,500. Enjoy unlimited in-person withdrawals and up to 6 third-party withdrawals every month, including checks, ACH, and debit card transactions.
Certificates of Deposit (CD)
If you’re looking for a longer-term savings option, our Certificates of Deposit (CDs) offer attractive interest rates and terms ranging from 3 to 72 months. With a minimum deposit of $500, you can start building your wealth and enjoying the security of fixed-rate returns.
Health Savings Accounts (HSA)
For those with a high deductible health insurance plan, our Health Savings Accounts (HSAs) provide a tax-advantaged option to save for medical expenses. With a minimum deposit of $50, tiered interest rates, and the convenience of a debit card, our HSAs help you plan for the future while taking care of your health.
Individual Retirement Accounts (IRA)
Secure your retirement with our Individual Retirement Accounts (IRAs). Choose between fixed rate or variable rate plans, with a minimum deposit of $500 for fixed-rate accounts and $25 for variable rate accounts. Enjoy special tax advantages and explore options like Roth, Self-directed, and Traditional IRAs.
Get Started Saving
Unlock the potential of your savings with Farmers State Bank. Regardless if you’re saving for a rainy day, planning for retirement, or investing in your future, our personal saving account solutions provide the security, flexibility, and rewards you deserve. Visit your local branch or contact us to get moving on your wealth-building journey. For more details regarding the deductibility of interest, please consult a tax advisor.