At Merchants Bank we have numerous ways to help you save money whether it is for emergencies, a rainy day, or for your future. Please see our many types of accounts below:

Regular Savings Account

  • Interest accrues daily on account balances of $10 or more and is paid quarterly
  • $50 minimum initial deposit required
  • $2 maintenance fee if balance falls below $50 any day of the month
  • $2 per debit transaction in excess of 2 per month

 

 

Christmas Club Account

  • Interest accrues daily on account balance and is paid annually
  • Minimum annual deposit $50
  • $15 fee if closed before maturity

 

 

Certificates of Deposit

  • Maturities ranging from 7 days to 5 years
  • $1,000 minimum deposit required to open account

 

 

Individual Retirement Account (IRA)

  • 18, 30, and 60 month maturities
  • $1,000 minimum deposit required to open account

Hi-Fi Account (Money Market Account)

Minimum Monthly Balance

Service Charge

$0.00 to 2,499

$10.00*

$2,500 and over

No charge*

  • * $1 per debit transaction in excess of 6 per month
  • Interest accrues daily on balances of $2,500 or more, and is paid monthly
  • $2,500 minimum initial deposit required

 

For full account disclosures come by and see one of our customer service representatives or call or e-mail us for a copy of the full disclosure.

 
   
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