• Savings

Savings

  • Bank Independent has a comprehensive array of savings, money market accounts, CDs and IRAs to fit any situation. Plus, Bank Independent is pleased to introduce new accounts that pay rates equivalent to Wall Street alternatives.* These accounts can be selected individually, or as part of a long-term program.

     

    Smart Growth Savings – Learn more about our long-term savings programs to fund anything from college to retirement.

     

       Savings   Premier Money
    Market
     Premier Growth 
    (Like a CD)
     Premier Growth IRA 
       PiggyBank Icon  Premier Money Market Icon  CD Icon  IRA icon
    Best For:  People just starting out or wanting ready cash For people participating in a Smart Growth Program For people participating in a Smart Growth Program  People without an immediate need for their savings who want to earn more
    Opening Minimum:  $100 $1 in Smart Growth Program or $10,000 outside that program $1 in Smart Growth Program or $10,000 outside that program $1 in Smart Growth Program or $10,000 outside that program
    Quarterly or Monthly  Service Fee: None if maintain minimum balance, otherwise $6 per quarter None if maintain $10,000 minimum balance or a monthly automatic transfer from a Relationship account or linked to a CMA, otherwise $14.95 per quarter None None
    Quarterly or Monthly Balance Requirement to avoid a service fee: $100 $10,000 None None
    Withdrawal Limitations: 6 withdrawals per month** 6 withdrawals per month (no checks)*** Substantial Penalty for early withdrawal Substantial Penalty for early withdrawal
    Interest Tiers: No No* No* No*
    Additions
     Allowed:
    Yes Yes Yes Yes

     
    * Compare our rates to non-FDIC alternatives by visiting iMoneyNet.com. There you’ll find iMoneyNet Money Fund Averages that reflect the average return of US money market mutual funds. You can review the top 15 retail funds individually. Either way, you’ll find that our FDIC insured money market accounts and CDs provide competitive returns - with the added safety of FDIC insurance.

    ** A service fee per withdrawal will be assessed after the 3rd withdrawal in a quarter.

    ***A service fee per withdrawal will be assessed after the 6th withdrawal.