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Savings Accounts

Start Your Savings Journey

Everyone wishes they could save more. You already know the value of saving your money. But do you have the right account that will allow you to execute your savings strategy? Farmers & Merchants State Bank offers savings accounts for customers of almost any age to allow you to save your way. If you’re interested in opening a savings account, please complete our online inquiry form.

Account Inquiry Form Open an Account in Person Current Rates

Compare Our Savings Accounts

Account

Who This Account Is For

Personal Savings Account

Customers who are at least 18 years old and want a traditional savings account featuring low minimum balance requirements. Interest on this account is paid quarterly.

Money Market Accounts

Customers who can maintain higher balances to take advantage of tiered interest rates. Premium Money Market account is available for customers who can maintain a balance of at least $250,000. Interest for Money Market Accounts is compounded monthly.

Prosperity Premium Savings Accounts

Customers looking to collect a higher interest rate than a traditional savings account, even when their funds are idle. Interest on this account is compounded quarterly.

Youth Savings Account

Savers under the age of 18 who need an account with low balance requirements to understand the value of saving. Interest is paid quarterly.

Coverdell Education Savings Account

Customers interested in saving money to cover the costs associated with education. Anyone can make a contribution to an account, which can be used to cover expenses for students in K-12 grade, college students or graduate students.

Holiday Savings Account

Customers who want to save for their holiday purchases throughout the year. Interest is paid on November 1st each year. Funds must be deposited using Direct Deposit or an automated transfer.

Uniform Transfer to Minor Account (UTMA)

Provides a way for youth up to age 21 to earn more interest on deposits. Earn better interest rate on balances of $500 or less. Interest paid quarterly.

Savings Account Features

Each savings account offered at Farmers & Merchants State Bank includes the following features:

  • Free online banking
  • E-Statements
  • Free 24/7 Telebanc services
  • Direct Deposit
  • Earn interest on idle funds
  • Free personalized financial plan
  • Free Mobile Money
  • Free ClickSWITCH

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