Savings Accounts

Passbook Savings Account

  • Minimum deposit of $10 to open
  • $10 minimum balance to earn interest
  • Interest compounded and credited to account quarterly
  • Transfers to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per month

Certificates of Deposit (CD)

  • Call or stop in at any branch for a list of current rates
  • Automatically renewable
  • Early withdrawal penalty may be imposed

IRA Savings Account

  • An Individual Retirement Account can provide a strong foundation to help you build toward your financial future. Let Farmers State Bank help you with your IRA rollovers and transfers too!
  • Interest compounded and credited to account quarterly
  • Closing fee of $25 will be charged for closing this account

 

HSA Savings Account

  • Tax-exempt account established exclusively for the purpose of paying or reimbursing qualified medical expenses of you, your spouse, and your dependents
  • Interest compounded and credited to account quarterly

 

Holiday Savings Account

  • Minimum deposit of $10 to open
  • $10 minimum balance to earn interest
  • Earns variable interest credited to account on September 30th.
  • No transfers or withdrawals can be made from this account. In an emergency situation, we will permit withdrawal of the entire balance and the account will be terminated for the current year. In this case, no interest will be credited to the account.