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 it 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.
