Personal Savings
Independence Bank offers three basic personal savings accounts. Compare the features and choose the one that fits your needs and lifestyle.
Choose A Personal Savings Account that is Right For You!
Details
- $50 minimum opening balance requirement
- Below minimum = $2 maintenance fee per month
- Minimum balance maintenance fee is waived for our customers who are under 18
- 6 free withdrawals per month. Excessive Withdrawal Fee: $2 per withdrawal
Details
- $5,000 minimum opening and daily balance requirement
- Below minimum = $5 maintenance fee per month
- 6 free withdrawals per month. Excessive Withdrawal Fee: $2 per withdrawal
- Must maintain a minimum average daily balance of $5,000 to obtain the disclosed annual percentage yield
Premier Savings Account
Premium savings account rewards balances with higher interest rates!
Details
- $25,000 minimum opening and daily balance requirement
- Below minimum = $25 maintenance fee per month
- 6 free withdrawals per month. Excessive Withdrawal Fee: $25 per withdrawal
- Must maintain a minimum average daily balance of $25,000 to obtain the disclosed annual percentage yield
- Consumer only
Insured Cash Sweep is a cash management tool for customers who want to secure large deposits while maintaining access to their funds. A perfect alternative to repurchase agreements and other less flexible accounts, ICS offers competitive interest, same day access to your money and multi-million dollar FDIC insurance. This product is available to personal and business banking customers. As a member of the ICS network, Independence Bank offers large deposit customers access to a cash management tool that will secure their funds and streamline their business.
- Maintain FDIC insurance coverage by working directly with Independence Bank
- Receive one consolidated monthly statement for all of your accounts
- Check accounts online 24/7
Here's how Christmas Club works:
- 52-week savings program with interest.
- Program period runs from November 1 - October 31 each year and automatically renews.
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Account holders will earn interest at 4.00% APY* on the first $10,000.00, paid annually on the last business day of October. At this time, checks will be issued and mailed for the full balance of the account.
- Debits and withdrawals are not permitted. If a withdrawal is made before maturity, a $10 withdrawal fee will be assessed for each withdrawal.
- Accounts that maintain a zero balance for 65 consecutive days will be automatically closed.
- Christmas Club account must be opened by January 31st in any given year in order to participate in that year's Christmas Club.
*Annual Percentage (APY) is guaranteed from November 1, 2026 through October 31, 2027. No minimum deposit required to open the account, and no minimum balance is required to earn the advertised APY. No monthly maintenance fees apply. Other transaction and activity fees may apply, and fees could reduce the earnings on the account.
