Farmers & Merchants State Bank allows you to grow your money with interest. View our rate sheet to see the balance requirements to earn interest on your checking account, savings account or CD.
Consumer Deposit Products1,6 | Tier | Minimum Balance to Open & Earn APY* | Interest Rate | *Annual Percentage Yield (APY) | Compounding |
---|---|---|---|---|---|
SPECIALSAvailable for Certificates, Individual Retirement Accounts (IRAs) | |||||
16 Month - Sweet Sixteen Option4 | $500 | 0.40% | 0.40% | Annually | |
9 Month Option CD10 | $500 | 0.34% | 0.34% | Quarterly | |
20 Month Dream Builder2 | 1 | $20.00 - $99,999 | 0.55% | 0.55% | Annually |
20 Month Dream Builder2 | 2 | $100,000 | 0.07% | 0.07% | Annually |
Reverse cd 8 | 24 Month | $5,000 | 0.75% | 0.75% | Monthly |
36, 48, 60 Months | $5,000 | 0.95% | 0.95% | Monthly | |
other terms available for Certificates & Individual retirement accounts (IRA) & Health Savings Accounts (HSA) | |||||
60 Month | $500 | 0.75% | 0.75% | Annually | |
36 Month | $500 | 0.45% | 0.45% | Annually | |
24 Month | $500 | 0.35% | 0.35% | Annually | |
18 MONTH | $500 | 0.30% | 0.30% | Annually | |
12 Month | $500 | 0.30% | 0.30% | Annually | |
SAVINGS3,5 | |||||
Prosperity Premium Savings | 2 | $25,000 | 0.22% | 0.22% | Quarterly |
1 | $0-$24,999 | 0.07% | 0.07% | Quarterly | |
Personal Savings | $100 | 0.07% | 0.07% | Quarterly | |
custodial savings5** | 2 | > $500 | 0.50% | 0.50% | Quarterly |
1 | $0 - $500 | 3.00% | 3.03% | Quarterly | |
youth savings9** | 2 | > $500 | 0.50% | 0.50% | Quarterly |
1 | $0 - $500 | 3.00% | 3.03% | Quarterly | |
Holiday Savings | $10 | 0.50% | 0.50% | Annually | |
ira passbook savings** | $100 | 0.07% | 0.07% | Quarterly | |
CHECKING | |||||
Freedom Checking | $50 / N/A | N/A | N/A | N/A | |
Prosperity Checking | $50 / $2,500 | 0.05% | 0.05% | Monthly | |
hsa checking** | $100 | 0.52% | 0.52% | Monthly | |
MONEY MARKET SAVINGS3 | |||||
PREMIUM MONEY MARKET3, | 2 | $250,000 | 0.65% | 0.65% | Monthly |
1 | $0 - $249,999 | 0.01% | 0.01% | Monthly | |
MONEY MARKET3 | 6 | $150,000 | 0.22% | 0.22% | Monthly |
5 | $100,000 - $149,000 | 0.17% | 0.17% | Monthly | |
4 | $75,000 - $99,999 | 0.12% | 0.12% | Monthly | |
3 | $50,000 - $74,999 | 0.07% | 0.07% | Monthly | |
2 | $25,000 - $49,999 | 0.02% | 0.02% | Monthly | |
1 | $0 - $24,999 | 0.01% | 0.01% | Monthly |
** The following accounts must be opened in person:
Individual Retirement Accounts are available but must also be opened in person.