Bank Independent’s automated savings programs provide growth comparable to Wall Street equivalents.*
Bank Independent has worked with a professional consultant to create a growth program with good earnings potential and safety of your principal. First, let’s start with why you need to save.
Most Common Unplanned ExpensesThe average family spends over $2,000 annually on unexpected expenses including:
Growth ExamplesA well thought out savings plan can help to take the worry out of the unexpected. Here’s an example on how money saved monthly can grow to cover unplanned, and even special events like vacations, home purchases and more.
Growth of a $100 or $250 monthly contribution to a 2 year time deposit paying .13% APY (Annual Percentage Yield) compounded annually. Rate on 7/15/2012 with an initial deposit of $1. Rates subject to change after account opened. $1 minimum balance required to open the account. A penalty maybe imposed for early withdrawal.**
Customization Options The Bank Independent Rainy Day Savings program allows you to save a moderate amount from your checking each month for placement in a Premier Money Market Account or Premier Growth Account. Here are some common examples:
Checking Choices You can fund your Rainy Day Express account from any Bank Independent checking. Note that some plans even waive the monthly service fee based on the amount saved monthly. Your Growth ChoicesHere is more information on the growth accounts from which you can choose to have your money placed. Note that you can make future changes at your option. Plus, these accounts allow you to make extra deposits at any time. So you don’t have to rely on your monthly savings alone to reach your goals.
* 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 also view 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.** Fees may apply depending on the account you have chosen to open at the bank.
Custom Calculators for Your Rainy DayWe have several calculators to help you save for a rainy day including:
What will it take to become a millionaire?
How much will my savings be worth?
What will it take to save for a vehicle, home, etc.?
Custom Calculators to Help You BudgetWe also have several calculators to help you with personal money management including:
How much am I spending?
Should I pay off debt or invest in savings?
What will it take to pay off my balance?
How much should I set aside for emergencies?
How much will it cost to raise a child?
What's it worth to reduce my spending?
Should my spouse work too?