personal-loans

Savings

At Farmers Bank, we have a strong relationship with the community we serve. It’s our goal to help you achieve your financial goals. We offer a broad spectrum of financial services ranging from traditional savings and checking accounts, to secure Online Banking and Bill Pay. Farmers Bank can even help you look towards retirement with an IRA savings account. We invite you to open an account today and discover for yourself what we mean when we say, “Farmers Bank is Community Banking Perfected.”

Check back often to see our latest savings account and certificate of deposit rates!

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Our Fee Schedule

Savings

  • Interest will be deposited to the account semi-annually.

Interest Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield are included in the Interest Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account weekly. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Interest will be computed semi-annually and will be credited to the account semi-annually.

Balance Information: We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum average daily balance of $100.00 to obtain the disclosed annual percentage yield.

Limitations: You must deposit $100.00 to open this account. Only 3 withdrawals per statement cycle are allowed before excessive withdrawal fees are assessed. Any withdrawals in excess of the three allowed are assessed a fee of $3.00 per withdrawal.

Account Fees: A maintenance fee of $4.00 will be imposed every statement cycle if the minimum daily balance for the statement cycle falls below $300.00.

Savings Plus CD

  • An account hybrid that offers the competitive interest rates of a certificate of deposit plus the capability of making additional deposits of a savings account.

Interest Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield are included in the Interest Rate Chart. The interest rate and annual percentage yield will not change for the term of the account. The interest rate will be in effect for 3 months. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will be compounded quarterly and will be credited at maturity. We will mail the interest in a check to you or deposit the interest in an account that you designate. The annual percentage yield assumes interest will remain on deposit until maturity. A withdrawal will reduce earnings.

Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day. You must maintain a minimum balance of $1000.00 in the account each day to obtain the disclosed annual percentage yield.

Limitations: You must deposit $1,000.00 to open this account. Additional deposits must be $50.00 or more. Withdrawals are subject to early withdrawal penalties.

Time Account Information: Your account will mature in 3 months. If you withdraw any of the principal before the maturity date, we may impose a penalty of one month’s interest. This account will automatically renew. You will have 10 days after the maturity date to withdraw funds without penalty. If you do not withdraw the funds, each renewal term will be for an identical period of time as the original term.

Christmas Club

  • A statement savings account offered to individuals who want to save for Christmas needs.
  • Interest will be paid at maturity.
  • Is offered October 15 each year.
  • Matures October 1st of the following year.

Interest Rate Information: This account is an interest bearing account. The interest rate and annual percentage yield are included in the Interest Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account weekly. Interest begins to accrue on the business day you deposit non-cash items (for example, checks). Interest will not be compounded on this account. Interest will be credited to the account at maturity. If the account is closed before interest is credited you will not receive the accrued interest. At the end of the club account period October 1, the funds  in the account will be mailed to you by check.

Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.

Limitations: Deposits must come from an automatic transfer from an existing checking account or a direct deposit through payroll deduction. Withdrawals made from this account will close the account and result in forfeiture of all accrued interest and a $20.00 fee.

Vacation Club

  • A statement savings account offered to individuals who want to save for vacation needs.
  • Interest will be paid at maturity.
  • This account will be offered February 15 and June 15 each year.
  • The maturity dates will be respectively February 1 and June 1 of the following year.

Interest Rate Information: This Account is an interest bearing account. The interest rate and annual percentage yield are included in the Interest Rate Chart. The interest rate and annual percentage yield may change. At our discretion, we may change the interest rate on the account weekly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). Interest will not be compounded on the account. Interest will be credited to the account at maturity. If the account is closed before interest is credited you will not receive the accrued interest.  At the end of the club account period, February 1 or June 1, the funds in the account will be mailed to you by check.

Balance Information: We use the daily balance method to calculate the interest on the account. This method applies a daily periodic rate to the principal in the account each day.

Limitations: Deposits must come from an automatic transfer from an existing checking account or a direct deposit through payroll deduction. Withdrawals made from this account will close the account and result in a forfeiture of all accrued interest and a $20.00 fee.

 


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