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Products - Personal Products
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Personal Checking Accounts | |
Personal Savings Accounts |
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Certificates of Deposit | |
IRA's |
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Credit Card |
Farmers & Merchants State Bank offers many different deposit accounts to meet your needs!
Personal Checking
- $100.00 minimum deposit to open
- Minimum Balance: $500.00 Average to avoid fees.
- No Transaction Limitations
Maintenance Fees: $4.00* monthly if average daily balance falls below $500.00***. (A debit fee of $.20* will be charged for each debit transaction** This fee will apply if the average daily balance falls below $500.00 for the monthly statement cycle). Maintenance and Debit fees will not apply to:
- Individuals age 62 and older
- Children age 18 and younger
- Students age 21 and younger
- Conservatorship for individuals age 62 and older or individuals under age 18, estate accounts, trust accounts and non-profit accounts
Dormant Fee: $3.00 monthly if average daily balance falls below $200.00 and has no activity for 12 months
Select F & M Checking
- $100.00 minimum deposit to open
- No Minimum Balance
- No Transaction Limitations
- Includes free basic wallet style checks
Dormant Fee: $3.00 monthly if average daily balance falls below $200.00 and has no activity for 12 months
Maintenance Fees: $10.00* monthly
F & M Advantage Checking
- $100.00 minimum deposit to open
- No Minimum Balance
- No Maintenance Fees
- Transaction Limitations: Check and deposit slip images are not returned with the statement.
Dormant Fee: $3.00 monthly if average daily balance falls below $200.00 and has no activity for 12 months
Now Account Checking
- $100.00 minimum deposit to open
- Minimum Balance: $1,000.00 Average to avoid fees.
- No Transaction Limitations
Maintenance Fees: $8.00* monthly if average daily balance falls below $1,000.00.*** (A debit fee of $.20* will be charged for each debit transaction**. This fee will apply if average daily balance falls below $1,000.00 for the monthly statement cycle). Maintenance and Debit Fees will not apply to:
- Estate Accounts
- Trust Accounts
- Non-Profit Accounts
Rate Information: At our discretion, interest rates and
annual percentage yield may change weekly. Interest will be compounded
daily. Interest will be credited to your account monthly. Interest begins
to accrue on the business day you deposit noncash items (for example,
checks). We use the daily balance computation method to calculate the
interest on your account. This method applies a daily periodic rate to the
principal in the account each day. Interest rate tiers: Under $2,500;
$2,500+.
See interest
rates.
Dormant Fee: $3.00 monthly if average daily balance falls below $200.00 and has no activity for 12 months
Savings Account
- $100.00 minimum deposit to open
- Minimum Balance:
- $100 average to avoid maintenance fees
- $500 average to avoid debit fees
Transaction Limitations: Transfers from savings to another account or third parties****, are limited to 6 per statement cycle.
Maintenance fees: $5.00 monthly if average daily balance falls below $100. *** (A debit fee of $1.00 will be charges for each debit transaction ** in excess of 6 per month if average daily balance falls below $500.00). Maintenance and Debit Fees will not apply to:
- Individuals age 62 and older
- Children age 18 and younger
- Students age 21 and younger
- Conservatorship for individuals age 62 and older or individuals under age 18, estate, trust accounts and non-profit accounts
Rate Information: At our discretion, interest rates and annual percentage yields may change weekly. Interest will be compounded daily. Interest will be credited to your account monthly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). We use the daily balance computation method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest rate tiers: Under $2,500; and $2,500+. See interest rates.
Dormant Fee: $3.00 monthly if average daily balance falls below $200.00 and has no activity for 12 months. Exception: There is NO dormant fee for Money Tree and Junior Savings Accounts.
Money Market Savings Account
- $100.00 minimum deposit to open
- Minimum Balance: $1,000.00 average to avoid fees.
Transaction Limitations: Transfers from savings to another account or third parties**** are limited to 6 per statement cycle.
Maintenance Fees: $10.00 monthly if average daily balance falls below $1,000.00.*** (A debit fee of $5.00 will be charged for each debit transaction** in excess of 6 during a monthly statement cycle regardless of balance maintained).
Rate Information: At our discretion, interest rates and annual percentage
yield may change weekly. Interest will be compounded daily. Interest will be
credited to your account monthly. Interest begins to accrue on the business
day you deposit noncash items (for example, checks). We use the daily
balance computation method to calculate the interest on your account. This
method applies a daily periodic rate to the principal in the account each
day. Interest rate tiers: Under $2,500; $2,500 - $4,999; $5,000 - $24,999;
and $25,000+. See interest rates.
Dormant Fee: $3.00 monthly if average daily balance falls below
$200.00 and has no activity for 12 months
Christmas Club
- Just $10.00 to open account
- No Minimum Balance or Maintenance Fees Transaction Limitation: $10.00 per month minimum deposit
Rate Information: At our discretion, interest rate and annual percentage yield may change weekly. Interest will be compounded daily. Interest will be credited to your account monthly. Interest begins to accrue on the business day you deposit noncash items (for example, checks). We use the daily balance computation method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest Rate Tiers: Under $2,500; $2,500+
Farmers & Merchants State Bank Time Certificates
Invest with a sound, secure area market leader….tiered rates, several term choices….special rates for Heritage Club and Money Tree members. See interest rates. See a Customer Service Representative for special balance and terms information or contact one of our CSR’s at email@fmsbiowa.com
What’s the Difference Between a Traditional IRA and a Roth IRA?
Traditional IRA – The traditional IRA is an account that allows you to defer taxes on the earnings on your contributions until they are withdrawn. Also, certain contributions are tax deductible in the tax year for which they are made.
Roth IRA – The Roth IRA allows only nondeductible contributions and features tax-free withdrawals for certain distribution reasons after a five-year holding period.
What is a Coverdell Education Savings Account? The Coverdell Education Savings Account is a nondeductible account that features tax-free withdrawals for a very specific purpose – a child’s education expenses.
See any of our Customer Service Representatives. We will explain the nature of these accounts in more detail and help you complete the necessary forms to establish your traditional and/or Roth IRA or a CESA (Coverdell Education Savings Account) for a child.
VISA Platinum Rewards Credit Card
- No annual fee
- Earn points toward millions of rewards- including vacation packages, airline tickets, event tickets, merchandise, gift cards, cash & more!
- Low variable APR
- Online credit card access
- Complimentary year end report
- Free additional cards for family members
- Travel assistance services
- Travel accident insurance
- Zero liability protection
- Auto rental insurance
- Accepted worldwide
Pick up an application at any of our offices or call 1-800-821-5184 today!