Personal Savings Accounts

We invite you to learn details about each Planters Bank Personal Savings product. For a quick glance, you may want to check out our Savings Accounts Comparison Chart.

Basic Savings

This account is a simple and low maintenance account to build your savings balances as a rainy day fund or to make a special purchase. You can make deposits whenever you choose, in any amount. You may also consistently add to your savings balance with an automatic transfer from a Planters Bank Checking or other transactional account.

Features:

Benefits:

• Interest Earnings – Single rate calculated on total daily balances and credited quarterly.
• Monthly Withdrawals – You may withdraw funds one time per month with no fee. You may be subject to an excess per withdrawal fee of $2 each.
• 24/7 Balance Information – Available via Online Banking, Mobile Banking, Telephone Banking and ATM.

Young Savers

It’s never too early to start saving! This account helps young people learn the value – and good habits – that come with a Savings Account. Parents and grandparents can also setup a Young Savers account and build balances for younger family member(s).

Features:

Benefits:

• Interest Earnings – Single rate calculated on total daily balances and credited quarterly.
• Start Saving Young – Jumpstart your savings from an early age and watch your savings grow overtime!
• Help Your Loved Ones – Open an account on behalf of your young family members and build appreciable savings balances for when they’re older.

Save The Change Savings

This could be the easiest and fastest way to build your savings account balance … with money that is “out of sight and out of mind!” Once you set up your Save The Change Savings account (tied to any Planters Bank checking account), you will automatically add-on to your Save The Change Savings account balance every time you use your Planters Visa® Check Card. It’s literally the easiest possible way to build your Savings … while you are on the go!

Features:

Benefits:

• Interest Earnings – Single rate calculated on total daily balances and credited quarterly.
• Incremental Savings – Purchases will round up to the nearest dollar. ²
• Optional Monthly Transfer Maximums – If you have a limited amount you can save each month, you can set a cap amount on your automatic transfers! After the maximum is reached, the automatic transfers will pause until the beginning of the next month.

Health Savings Account (HSA)

Our Health Savings Account allows individuals with High Deductible Health Plans (HDHP) to incrementally accumulate balances – including tax-free interest earnings – to pay for qualified medical expenses.³ HSAs are an ideal method for having cash-on-hand to pay for medical expenses and co-pays (up to your annual insurance plan’s deductible limits).

Features:

Benefits:

• Interest Earnings – Single rate calculated on total daily balances and credited quarterly.
• Tax Advantage – Interest earnings are not subject to income tax ³
• Convenience – At your option, you will be issued a special Planters Bank HSA Visa® Check Card for paying deductible amounts and co-pays
• Build Balances Over Years – If you don’t expend your HSA account balance during a calendar year, simply keep it in your account … and your balance will grow with tax-deferred interest earnings

HSA - FAQs

Money Market Account (Tiered)

Automatically earn higher rates with greater balances. Planters Bank’s Money Market Account (6 Interest Tiers) is ideal for those who keep higher account balances but prefer not tie-up their funds in CDs. The greater your balance, the higher your interest rate! You may write up to 3 checks per month, but there are other options for withdrawing funds (see Benefits: Withdrawals below).

Features:

Benefits:

• 6 Interest Tiers – As your balance increases, your interest rate will automatically increase when you reach a higher tier.
  • Up to $24,999
  • $25,000 – $49,999
  • $50,000 – $149,999
  • $150,000 – $249,999
  • $250,000 – $999,999
  • $1,000,000 +
• Interest Earnings – Earn higher rates of interest with greater account balances. Interest is calculated on total daily balance and credited monthly. Interest rates may re-price with the market.
• Withdrawals – You may withdraw funds six times per month with no fee.¹ Unlimited withdrawals and/or transfers are allowed in person, by mail or at any ATM. Also, a limited number of pre-authorized or third-party transactions are allowed.
• Re-Order Checks

Calculator: Education Funding

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¹ Excessive numbers of withdrawals may be subject to additional fees. One withdrawal per disclosure.
² Planters Bank Visa® Check Card is subject to approval. Only point-of-sale transactions qualify to earn uChoose points.
³ Consult a qualified tax advisor for details of deductibility and income tax deferral.