Farmers State Bank wants to help you reach your financial goals.
- $100 minimum deposit to open account ($5 for minors)
- $100 minimum daily balance to obtain the disclosed annual percentage yield (APY). Interest rate and APY subject to change at any time at our discretion.
- The daily balance method that is used to calculate interest on your account applies a daily periodic rate to the principal in the account each day.
- Interest will be compounded and credited to your account every month. Interest will begin to accrue no later than the business day we receive credit for the noncash items (checks).
- If you close your account before interest is credited, you do not receive accrued interest.
- If your balance falls below $100 on any day in the statement cycle, a fee of $2 applies. Fee waived for customers 18 or younger.
- You may only make 6 transfers from your account each month. A withdrawal fee of $1 will be charged for each withdrawal in excess of 5 during the month.
- FSB will contribute $20 per account opened for minors up to age 13, which cannot be withdrawn for a minimum of 12 months.