The Fannin Bank Savings Account is a great way to start saving for your future today. You can use the savings account to put money aside for a new car, vacation, a downpayment on your dream home, or a rainy day fund. You can create automatic transfers from your Fannin Bank checking account to your savings account, so you don’t have to remember to save. There is no Service Charge Fee if your balance does not fall below $100.00 during the statement cycle. If your balance does fall below $100.00 during the statement cycle, there will be a $2.00 Service Charge Fee. You can make two withdrawals each month at no charge. There is a $3.00 Excess Check Charge per withdrawal over two each month. Your interest is compounded and credited to your account quarterly. If you close your account before the interest is credited, you will not receive the accrued interest. To open a Fannin Bank Savings Account, you need a minimum of $100.00.
Money Market Accounts
A Fannin Bank Money Market account is for those that want to earn more interest than a Now Checking can provide and still have easy access to their money. The Money Market account statement includes check images. You can make six withdrawals per statement cycle with no fee, but you will pay a $10.00 Excess Check Charge for each withdrawal above six. You pay no service charge fee if your balance does not fall below $2,000.00 during the statement cycle. If your balance does fall below $2,000.00 during the statement cycle, you will pay a $15.00 Service Charge Fee. To open a Money Market account, you need a minimum of $2,000.00.
Statement Cycle Information: The statement cycle is the time between two issued statements.
Rate information: Money Market – Tier 1, an interest rate of 0.5%, will be paid on the entire portion of your daily balance, less than $25,000.01. The annual percentage yield (APY) for this tier is 0.5%. Tier 2, an interest rate of 1.5% will be paid on the entire portion of your daily balance of $25,000.01 to $100,000.00. The annual percentage yield (APY) for this tier will range from 1.51% to 0.5%, depending on the daily balance in the account. Tier 3, an interest rate of 4.25%, will be paid on the entire portion of your daily balance, $100,000.01 or more. The annual percentage yield (APY) for this tier will range from 4.34% to 0.5%, depending on the daily balance in the account.
Certificates of Deposit (CD)
Fannin Bank offers a variety of certificate of deposit accounts ranging from six months to five years.