Personal Savings
Keep your money safe and allow it to work for you in one of Farmers & Merchants Bank's savings, certificate of deposit, money market or IRA accounts.
Select a Product From Below:
Savings Accounts
For beginners to planners, open a Farmers & Merchants Bank savings account today.
- Minimum balance to open - $25.
- Accessible - at any Farmers & Merchants Bank branch and at any Farmers & Merchants Bank ATM if the account is tied to a Farmers & Merchants Bank checking account. Also accessible at non-Farmers & Merchants Bank ATMs with the SHAZAM, Cirrus, Pulse or VISA/MasterCharge logo. (Additional fees may apply)
- Quarterly Statement unless an electronic transaction has occurred, then a monthly statement is mailed.
- Interest - credited to account and compounded quarterly
- ATM/SHAZAM Check card available (with Farmers & Merchants Bank checking account)
- 24-hour ATM, Telephone Banking & Night Depository
- Withdrawals - six per quarter allowed without a charge
Certificates of Deposit
If you want a rate that is fixed for short or long term, then a Farmers & Merchants Bank CD is right for you. We have terms ranging from 7 days to 60 months. Jumbo CD rates are available, Just Ask.
- Minimum Investment - $500.
- Interest Rate - is fixed during the term of the CD. Rates vary depending on the term and amount of the Certificate.
- Interest - paid by check, compounded, or direct deposited into your Farmers & Merchants Bank checking account
- Automatic Renewal - available for all Certificates of Deposit.
- Penalty - for early withdrawal (Fee Page)
Money Market Account
Keep your money available with higher earnings by opening a Farmers & Merchants Bank Money Market Account.
- Minimum balance to open - $2,500.
- Earnings - paid monthly to your account
- 24-hour ATM, Telephone Banking & Night Deposit access
- Monthly Image Statement
- Transactions - are limited to 6 per month (three by check) without any additional fees
- Fees - are assessed if the average daily balance falls below $2,500 during the statement cycle and account is subject to loss of earning for the statement cycle
Money Market Plus Account
Keep your money available with higher earnings by opening a Farmers & Merchants Bank Money Market Account.
- Minimum balance to open - $50,000.
- Earnings - paid monthly to your account
- 24-hour ATM, Telephone Banking & Night Deposit access
- Monthly Image Statement
- Transactions - are limited to 6 per month (three by check) without any additional fees
- Fees - are assessed if the average daily balance falls below $50,000 during the statement cycle and account is subject to loss of earning for the statement cycle
Individual Retirement Accounts
Having a good retirement plan in place has never been more important. Farmers & Merchants Bank can help you start saving for your retirement with a Traditional, ROTH or Coverdell Educational Savings Account. Contributions to certain types of IRA accounts can be tax deferred. You should always consult a qualified financial advisor when starting or managing an IRA account.
- Minimum opening contribution - $100.
- Interest - compounded semi-annually and added to your account
- Fair Market Value - statement mailed annually
- Penalty - The IRS may impose a penalty for early withdrawal (consult your tax advisor)
Christmas Club Savings
Be prepared to buy all your Christmas gifts by saving throughout the year. Farmers & Merchants Bank's Christmas Club account offers higher earnings than standard savings accounts which takes the stress away on Christmas season purchases. Christmas Clubs are also an excellent way to save throughout the year for your property taxes.
- Minimum balance to open - $10.
- Interest - paid annually and added to your account balance
- Withdrawals - are not allowed during the one year term of the account without substantial penalty
- Earnings - plus principal balance are mailed to you by check on or around November 1st of each year
Vacation Club Account
No matter what time of the year you choose for vacation, the Vacation Club is an easy way to save for that special trip.
- Minimum balance to open - $10.
- Interest credited to account quarterly
- Two withdrawals allowed each calendar year with no penalty
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