Personal Savings Accounts

Savings Options for the Things you Need and the Future you Want.

Account TypeMoney Market Savings

Savings Account

Christmas Club
Minimum to Open $100.00 Minimum Deposit to Open $100.00 Minimum Deposit to Open

 

$10.00 Minimum Deposit to Open

Minimum Balance $1,000.00 Average Daily Balance1 to Avoid Fees

$100.00 Average Daily Balance1 to Avoid Maintenance Fees

$500.00 Average Daily Balance1 to Avoid Debit Fees

No Minimum Balance

Transaction Limitations N/A N/A $10.00 Per Month Minimum Deposit
Account Advantages
  • Free F&M Online
  • Free Mobile Banking
  • Free Mobile Deposit
  • Free Notifi Account Alerts
  • Free F&M Online
  • Free Mobile Banking
  • Free Mobile Deposit
  • Free Notifi Account Alerts

Christmas Club year begins December 1st and ends November 1st*

Deposits: A designated amount will be automatically deducted from a Farmers & Merchants State Bank account and deposited to your Christmas Club Account on the first day of each month*

* If a transfer date is a non-processing day for us, then the transfer will be made on the first processing day before the scheduled transfer date. 

Withdrawals: The entire balance in your account will be withdrawn during the first week of November, and paid to you by check or deposited into your F&M State Bank account.

Maintenance and Debit Fees $10.00/month Maintenance Fee if average daily balance1 falls below $1,000.00 and a debit fee of $5.00 will be charged for each debit transaction2 in excess of 6 during a monthly statement cycle regardless of the balance maintained.

$5.00/month Maintenance Fee if average daily balance1 falls below $100.00 and a debit fee of $1.00 will be charged for each debit transaction2 in excess of 6 per month if average daily balance1 falls below $500.00 for the monthly statement cycle.

Refer to Maintenance and Debit Fee Exceptions Below

No Maintenance Fees
Interest Rate3 Interest Rates Interest Rates Interest Rates
Dormant Fee $3.00/month with no activity for 12 months if average daily balance falls below $200.00 $3.00/month with no activity for 12 months if average daily balance falls below $200.00 $3.00/month with no activity for 12 months if average daily balance falls below $200.00

Maintenance and Debit Fee Exceptions: Fees will not apply to: Ages 65 and older, children age 18 and younger, conservatorship for individuals 65 and older, or individuals under age 18.

1The average daily balance is calculated by adding the principal in the account each day of the period and dividing the total by the number of days in the period.

2Debit Transaction means any withdrawal, check paid, automatic transfer or payment out of this account.

3At our discretion, the interest rate and annual percentage yield may change weekly. Interest will be compounded daily. Interest will be credited to your account monthly. Interest begins to accrue on the business day you deposit noncash items (i.e. Checks). We use the daily balance computation method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest rate and annual percentage yield may change.

 

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