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Savings

Farmers State Bank has a variety of accounts to help you save!

Our interest-bearing savings accounts can help you save for a specific financial need or build an emergency fund. We even offer time-specific savings accounts such as our Vacation Club and Christmas Club.

Our Regular Savings and Money Market Accounts offer competitive interest, free e-statements, free online and mobile banking, and a free ATM card.

Regular Savings

With just $25.00, you can be on your way to building your savings! This interest-bearing account allows for unlimited deposits to help you reach your goals faster.

Money Market

This savings account has an interest rate that adjusts with the current money market interest rates. With a deposit of at least $1000.00, you will enjoy a higher interest rate than the Regular Savings account.

Pioneer Money Market

With a deposit of $2500.00, you will enjoy Farmers State Bank highest interest rate Savings account.

FSB4Life (0-18 Yrs)

It’s never to early to start saving! For our customers under the age of 19, you can start saving today with just $10.00! Plus, make a deposit to your FSB4Life account any time during your birthday month, and we will deposit $5.00 to your account!

Vacation/Christmas Club

At Farmers State Bank, we make it easy to save for vacations and holidays. With our Vacation Club and Christmas Club Savings Accounts, you can put money away and have it pay out to you just in time for vacation or the holidays.

CDs

With a minimum deposit of $1000.00 you can open a Certificate of Deposit at a competitive, fixed-rate. Once mature you can cash them in or renew for added savings! View our current CD rates under our Investment Page.

IRAs

Farmers State Bank offers Individual Retirement Accounts (IRAs) under the same terms as our Certificates of Deposit with the exception that the minimum to open the IRA CD is $20.00; rather than $1000.00 for regular CDs.

 

Savings At A Glance

An overview of savings options
 

Regular Savings

FSB4LIFE (0-18Yrs)

Money Market

Pioneer Money Market

Vacation ClubChristmas Club
Opening Balance

$25

$10

$1000

$2500

$25

$25

Minimum Balance to obtain APY***

$50

$0

$1000

$2500

$25

$25


Monthly Service Charge

$0

$0

$0

$0

$0

$0

APY***

Yes

Yes

Yes

Yes

Yes

Yes

Interest Paid

Quarterly

Quarterly

Monthly

Monthly

At Maturity

At Maturity

ATM Processing Fees*Free withdrawals at FSB-owned ATMs; $2.00 per withdrawal at non-FSB ATMsFree withdrawals at FSB-owned ATMs; $2.00 per withdrawal at non-FSB ATMsFree withdrawals at FSB-owned ATMs; $2.00 per withdrawal at non-FSB ATMsFree withdrawals at FSB-owned ATMs; $2.00 per withdrawal at non-FSB ATMs

N/A

N/A

Withdrawal Limits**Unlimited at Bank; 6 electronic per calendar monthUnlimited at Bank; 6 electronic per calendar monthUnlimited at Bank; 6 electronic per calendar monthUnlimited at Bank; 6 electronic per calendar month

None Allowed

None Allowed

Other


Unlimited deposits; free e-statements, free online & mobile banking, and a free ATM cardUnlimited deposits; must be under 19 years oldUnlimited deposits; free e-statements, free online & mobile banking, and a free ATM cardUnlimited deposits; free e-statements, free online & mobile banking, and a free ATM cardUnlimited deposits; account pays out on May 30 or next business dayUnlimited deposits; account pays out on October 29 or next business day
 

*Does not include any applicable foreign ATM fees charged by the ATM owners.

**Transaction limitations and excess withdrawal fees may apply. See bank representative for details.

***Annual Percentage Yield. These accounts have a variable rate feature that may be changed at our discretion. If balance of account falls below minimum, you may not obtain the disclosed APY. Fees may reduce the earnings on the account.

 
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