Savings Options to Fit Your Needs.
When you trust your money to a bank, you want to be sure it's in an account that's right for you. Farmers & Merchants Savings Bank offers you several savings account options to help you save the way you want. Stop in at one of our branch offices to speak with a member of our customer service team to find the account that best fits you.
Regular Savings Account
Description
An account for traditional savings needs.
Requirements
$50 minimum balance to open. Should the balance fall below $50 any day of the month, a $5 service charge applies. Students, 16 and under, no minimum balance requirements or dormant account charges apply.
Benefits
No monthly service charge fee
Cost
A per withdrawal fee of $1 will be charged for each debit (withdrawal, automatic transfer, ATM or payment out of this account) transaction in excess of six during a monthly statement cycle.
Hi-Fi Savings Account
Description
A savings account that earns tiered market rates.
Requirements
$2,500 minimum balance to open
Benefits
No monthly service charge fee.
Cost
A per withdrawal fee of $0.25 will be charged for each debit transaction in excess of six during a monthly statement cycle.
2nd Century Money Market Account
Description
A money market account that earns exceptional rates based on the account balance
Requirements
$1,000 minimum balance to open. Must maintain a minimum daily balance of $1,000 in the account each day to obtain disclosed annual percentage yield
Benefits
- Check images are returned with statement
- Interest rate is based on the daily account balance
Cost
- A per withdrawal fee of $1 will be charged for each debit (withdrawal, check paid, automatic transfer, or payment out of this account) transaction in excess of six during a monthly statement cycle.
- A daily minimum balance of $1,000 must be maintained in the account each day to obtain the disclosed annual percentage yield
Christmas Club Savings Account
Description
A weekly savings program for holiday giving.
Requirements
$3.00 minimum balance to open
Benefits
Interest bearing, fee free savings club that can be opened anytime. The balance plus interest is disbursed in October.
Cost
If the account is closed before interest is credited, you will not receive the accrued interest.