Personal Savings, Certificates of Deposit, and IRA’s

Personal Savings

We have several savings account options to choose from:

Account Type	Minimum Balance Required	Fee if Balance is not Maintained	Withdrawals allowed per Statement Cycle	Free IB Online Banking
Regular Savings	$25	$1	3*	Yes
VIP Consumer Savings	$5000	$5 Service Charge and no interest paid that statement cycle	3**	Yes
Premier Savings	$25,000	$25 Service Charge and no interest paid that statement cycle	4***	Yes

* 3 free withdrawals per month, $2 per withdrawal when limit is exceeded.

** 3 free withdrawals per statement cycle, $2 per withdrawal when limit is exceeded.

*** 4 free withdrawals per statement cycle, $25 per withdrawal when limit is exceeded.

Regular Savings Account

Earn interest on the money you save!

$25 minimum balance
Below minimum, a $1 service charge per month
$1 service charge waived for customers who are 62+ and customers 18 years and younger
3 free withdrawals from the account per month, $2 per withdrawal when limit is exceeded
Interest paid on average daily balance with rate subject to change

VIP Consumer Account

Earn competitive interest rates on higher balances!

$5,000 minimum balance
Below minimum a $5 service charge and no interest paid that statement cycle
3 withdrawal limit per statement cycle, $2 per withdrawal when limit is exceeded
Interest paid on average daily tiered balance with rate subject to change

Premier Savings Account

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

$25,000 minimum balance
Below minimum, a $25 service charge and no interest paid that statement cycle
4 withdrawal limit per statement cycle; $25 service charge per withdrawal when limit is exceeded
Interest paid on average daily tiered balance with rate subject to change

Certificates of Deposit

Various terms and competitive interest rates available
Flexibility to meet the customer’s requirements
Insured by the FDIC
Subject to early withdrawal penalties

CDARS®

CDARS® is the Certificate of Deposit Account Registry Service®. And 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

Competitive interest rates available
Annual fee of $15 with a closing fee of $25
1 free withdrawal every six months; $25 per subsequent withdrawal
Interest paid on average daily tiered balance with rate subject to change
Subject to early withdrawal penalties