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Corn Field
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SavingsSavings

For assistance call:
1-800-823-2274 or 406-265-1241

Personal Savings, Certificates of Deposit, and IRA’s

Personal Savings

We have several savings account options to choose from:

 

Account TypeMinimum Daily Balance Required to Avoid Maintenance FeeMonthly Maintenance Fee Withdrawals Allowed per Month to Avoid Excessive Withdrawal Fee/Excessive Withdrawal Fee per ItemFree Online Banking
Regular Savings* $25 $1 if below minimum  3/$2  Yes
VIP Savings* $5000  $5 if below minimum  3/$2  Yes
Premier Savings*  $25,000  $25 if below minimum 4/$25  Yes

* Fees could reduce earnings on the account.

Regular Savings Account*

Earn interest on the money you save!

  • $25 minimum opening and daily balance requirement
  • Below minimum, a $1 maintenance fee per month
  • Minimum balance maintenance fee waived for our customers who are 62+ and minors under 18 
  • 3 withdrawal limit per month.  Excessive Withdrawal Fee: $2 per withdrawal when limit is exceeded

VIP Savings Account*

Earn competitive interest rates on higher balances!

  • $5,000 minimum opening and daily balance requirement
  • Below minimum a $5 maintenance fee per month
  • 3 withdrawal limit per month.  Excessive Withdrawal Fee: $2 per withdrawal when limit is exceeded
  • Must maintain a minimum average daily balance of $5,000 to obtain the disclosed annual percentage yield

Premier Savings Account* (Consumer Only)

Premium savings account rewards balances with higher interest rates of return!

  • $25,000 minimum opening and daily balance requirement
  • Below minimum a $25 maintenance fee per month 
  • 4 withdrawal limit per month.  Excessive Withdrawal Fee: $25 per withdrawal when limit is exceeded
  • Must maintain a minimum average daily balance of $25,000 to obtain the disclosed annual percentage yield

Certificates of Deposit

  • $500 minimum opening deposit
  • Various terms and competitive interest rates available
  • Flexibility to meet the customer’s requirements
  • Subject to early withdrawal penalties

CDARS® 

CDARS®  is the Certificate of Deposit Account Registry Service®.  It's the easiest, most convenient way to enjoy full FDIC insurance on deposit amounts larger than $250,000. 

  • One Bank - Everything is handled through Independence Bank.  Your large deposit is broken into smaller amounts and placed with other banks that are members of a special network.  Then, those member banks issue CDs in amounts under $250,000, so that your entire investment is eligible for FDIC insurance.  By working with just one bank - Independence Bank - you can receive insurance from many. 
  • One Rate - You earn one rate on your entire investment.
  • One Statement - You receive one regular account statement from Independence Bank listing all of your CDs along with their issuing banks, maturity dates, interest earned and other details. 

Individual Retirement Accounts*

  • $25 minimum opening deposit
  • Competitive interest rates available
  • Annual fee - $15;  Closing fee - $25
  • 1 withdrawal per 6 month period.  Excessive Withdrawal Fee: $25 per withdrawal when limit is exceeded
  • Subject to early withdrawal penalties and other IRS regulations

Christmas Club Account

  • 50 week pledged savings program
  • If pledge is met, at the end of 50 weeks, Independence Bank will match one week's pledged contribution      

The interest rate and annual percentage yield for your account depend upon the applicable rate tier. Interest is paid on average daily balance. The interest rate and annual percentage yield for these tiers may change. The average daily balance method applies a periodic rate to the average daily balance in the account for the period. The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.