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Personal Savings

Personal Savings

Regular Savings

  • Low minimum opening deposit of $50.00.
  • Interest bearing account.
  • Combined statements with checking accounts available, otherwise quarterly statements provided.
  • No monthly fee on active accounts having a balance of more than $50.00. $5.00 monthly fee for accounts with balance that falls below $50.00.
  • One free withdrawal per month. $1.00 fee charged for each additional withdrawal if account balance is less than $500.00.
  • Federal regulation limits the number of preauthorized transfers to six per month. Accounts exceeding this limit are subject to closure or being placed into a non-interest bearing checking account.

Kids Savings

  • Low minimum opening deposit of $10.00
  • Interest bearing account.
  • Account available until age 25.

Personal Money Market

  • Minimum opening deposit of $2,500.00
  • No monthly fees when a minimum balance of $2,500.00 is maintained. $12.50 per month when balance falls below $2,500.00. 
  • Unlimited in person withdrawals and up to six preauthorized transfers are allowed per month by Federal Regulation D. Three of the six preauthorized transfers can be checks you write to third parties (someone other than Merchants and Planters Bank).
  • Interest bearing account, based on a tiered-rate system depending on balance.

Holiday Transfer Account

  • Must have a deposit account with Merchants and Planters Bank
  • Low minimum opening deposit of $10.00 with minimum monthly transfer of $10.00 from checking or savings. 
  • No fees charged if balance at maturity is at least $100.00. $10.00 fee charged if balance is less than $100.00. 
  • At maturity, club proceeds will be automatically deposited into linked checking/savings account. 
  • Interest bearing account.

Holiday Coupon Club

  • Minimum opening deposit of $20.00.
  • No fees charged if balance at maturity is at least $200.00. $10.00 fee charged if balance is less than $100.00. 
  • At maturity, a check will be issued. 
  • Interest bearing account.

 

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