Savings and CDs
You work hard for your money, so why shouldn't your money work just as hard for you? With a Planters Bank savings account, you can be confident with the return on your investment...earning highly competitive interest rates. And you'll be secure in knowing your money is safe and FDIC insured for up to $250,000.
| This Account is for you if... | Opening Balance | Waive Monthly Fee | Interest | |
| Basic Savings | You want to build savings incrementally with low opening balance and monthly fee | $25 | $500 Minimum Daily Balance or under age 19 [1] | Single rate calculated on daily balances and credited quarterly |
| Money Market Account | You want a higher rate of return while maintaining access to your money | $100 | $2,500 Minimum Daily Balance [2] | Tiered rate calculated on daily balances and credited monthly |
| GoSavings | You want to build savings automatically based on your Check Card usage | $0 | N/A [1] | Single rate calculated on daily balances and credited quarterly |
| Certificates of Deposit | You want to locak your money into a fixed rate for a fixed term. | $2,500 | Penalties for early withdrawal. | Varies according to term. Receive interest payments via check or direct deposit into a Planters Bank account. |
| Individual Retirement Account | You want interest-earning savings for retirement | $2,500 | Penalties, including tax penalties, may apply for early withdrawal | Can be structured as a CD or Money Market |
| Health Savings Account | You want to accumulate tax-free funds for medical expenses [3] | $0 | $3 per month | Tiered rate calculated on daily balances and credited monthly |
| [1] Charges are assessed for more than one withdrawal per month. [2] Unlimited withdrawals/transfers allowed in person, by mail, by messages, or at any ATM. Limited number of pre-authorized or third-party transactions allowed. [3] Consult a qualified tax professional for details. | ||||
Basic Savings
If you are ready to save money by earning interest on easy-access funds, this account is perfect for you.
- $25 Minimum Opening Balance
- No Monthly Maintenance Fees – When maintaining a $500 minimum daily balance (charges are assessed for more than one withdrawal per month)
- Quarterly Statement
- Interest Earnings – Calculated on total daily balance and credited quarterly
Young Savers
Perfect for savings customers under age 19 who want great interest rates with no monthly fees.
- $25 Minimum Opening Balance – must accompany adult account holder to open
- No Monthly Maintenance Fees – charges are assessed for more than one withdrawal per month
- Quarterly Statement
- Interest Earnings – Calculated on total daily balance and credited quarterly
Money Market Account
This is a great interest-earning account if you desire a higher rate of return with unlimited access to your money.
- $100 Minimum Opening Balance
- No Monthly Maintenance Fees – When maintaining a $2,500 minimum daily balance
- Monthly Statement
- Interest Earnings – Interest is earned on all account balances, and is credited monthly. This is a tiered rate account that earns higher interest based on higher balances. Interest rates may re-price with the market.
- Withdrawals – Unlimited withdrawals/transfers allowed in person, by mail, by messenger or at any ATM. Limited number of pre-authorized or third party transactions allowed.
Go Savings
Building savings separately, automatically and incrementally over time is the best way to save. With GoSavings, every time you use your Planters Visa® Check Card, we'll transfer $0.50 or $1 (your choice!) from your Planters Bank Checking Account to a separate savings account. With GoSavings, every purchase you make adds up to more savings for you!
- No Minimum Opening Balance – Sign-up and choose either $0.50 or $1 to automatically transfer each time you use your Planters Visa® Check Card*
- Optional Monthly Transfer Maximums – If you have a limited amount you can save each month, you can set a cap in the automatic transfers. After the max is reached, the automatic transfers will pause until the beginning of the next month.
- No Monthly Fees – Charges are assessed for more than one withdrawal per month.
- Quarterly Statement
- Interest on Every Dollar – Calculated on total daily balance and credited quarterly.
* Planters Bank Visa® Check Card is subject to approval. Only point-of-sale transactions qualify.
Certificates of Deposit
With a Planters Bank CD, you can receive guaranteed, higher-than-average interest rates to help your money grow! Individual Retirement Account Certificates of Deposit are also available.
- $2,500 Minimum Opening Balance
- No Monthly Maintenance Fees – A penalty will be imposed for early withdrawals
- Interest Earnings – Interest rates vary according to investment amount and term. Receive your interest by check (monthly, quarterly, semi-annually or annually) as well as by direct deposit into any Planters Bank account.
Current CD Specials
Tiered Money Market IRA
Start planning for your future and take advantage of great interest rates. Your contribution could even help lower your current tax bill.
- $100 Minimum Opening Balance
- No Monthly Maintenance Fees – Early withdrawal subject to interest and tax penalties
- Interest Earnings – Interest rates vary according to investment amount
- Access to Account – Deposits can be added at any time
Health Savings Accounts
HSAs allow individuals with High Deductible Health Plans (HDHP) to accumulate tax-free funds for qualified medical expenses. (Consult a tax adviser for details.) To learn more, download our informational HSA Brochure.
- No Minimum Opening Balance
- $3 Monthly Fee
- Quarterly eStatement or Paper Statement
- Interest – Calculated on total daily balance and credited monthly.
Interest Tiers:- $ 0-$9,999
- $10,000-$24,999
- $25,000-$49,999
- $50,000-$99,999
- $100,000+
