Grow Your Savings. Secure Your Future
Some Farmers & Merchants State Bank customers build their rainy-day savings with our traditional savings account that offers competitive interest rates. While other customers decide to invest in our short-term, flexible CDs, and our long-term IRAs.
We designed our savings solutions to work for you. Your lifestyle. Your needs. Your future.
Passbook Savings
Whether you're saving for your first car, your first home, or growing your business, our traditional savings account offers a competitive interest rate to help you reach your goals faster. Enjoy the convenience of automatic deposits or schedule a regular transfer from your checking account that suits your needs.
Key features include:
- No minimum deposit or balance required
- Interest credited to your account quarterly
- Unlimited deposits
- Mobile banking
- Remote deposit
- Transfers from this account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six (6) per month
Certificate of Deposit
With our flexible CD terms, you can choose the maturity date that best fits your financial goals—with options ranging from 31 days to 5 years. Start your CD investment with as little as $500 and enjoy the flexibility to make additional deposits or withdrawals upon maturity. Certificate of Deposits will automatic renew to continue growing your savings unless stated otherwise.
Key features include:
- Terms range from 31 days to 60 months
- $500 minimum deposit
- Early withdrawal penalties apply
- Interest can be added to the CD, paid by check, or deposited to your account
IRA's
It's never too early to start saving for your future. Your golden years should be the best years of your life, and at Farmers & Merchants State Bank, we're here to help you make the right choices today. With our 18-month IRA Certificate of Deposit, you can begin investing in your future now. Choose between our Traditional or Roth IRA options and start building a strong foundation for your retirement.
Key features include:
- $500 minimum deposit
- Penalty for early withdrawal
- Interest compounded and credited semiannually