Personal Savings Accounts

Savings accounts from Frandsen Bank & Trust offer many ways to reach your financial goals – whether they include a major purchase, that long-anticipated vacation or a rainy-day fund. Not sure where to begin? Here’s an overview.
 

My Savings

Our most popular savings account.

  • Earns interest on all balances
  • Free MoneyPass ATM withdrawals1
  • $5 monthly maintenance fee waived with $200 daily balance
  • $1 excessive withdrawal fee per transaction when six Regulation D withdrawals are exceeded per calendar month2

Penny's Savings Club2

For young savers age 0-14.

  • Earns interest on all balances
  • No minimum balance requirement
  • Visit your local Frandsen office for details on local club activities that may include prizes, fun events, and contests 
  • Converts to Young Adult Savings Club at age 15

Young Adult Savings Club2

For young adults age 15-23.

  • Earns interest on all balances
  • No minimum balance requirement
  • Earn a premium interest rate on first $2,500 balance when you have a My Checking Account3
  • Free MoneyPass ATM withdrawals1
  • Converts to My Savings at age 24

Certificates of Deposit

A termed low-risk investment option.

  • Earns interest
  • Terms from 3 to 60 months
  • $2,500 minimum opening balance
  • Early withdrawal penalty may apply

IRA Savings2

Individual Retirement Account option.

  • Earns interest on a tiered basis
  • $100 minimum opening balance
  • Plan fees may apply

IRA CDS

A termed low-risk IRA investment option.

  • Earns interest
  • Terms from 3 to 60 months 
  • $2,500 minimum opening balance
  • Plan fees and early withdrawal penalties may apply

1 A $2 withdrawal fee will be assessed on all non-MoneyPass ATM withdrawals. In addition, non-MoneyPass ATM operators may assess a surcharge fee.
2 Federal Regulation D limits certain types of withdrawals and transfers made to a combined total of six per calendar month. This includes checks or drafts to third parties, debit card purchases, preauthorized withdrawals and automatic transfers, and transfers made by telephone, online or mobile banking, Bill Pay, and wire transfer.
3 If premium interest rate conditions are not met, and for balances over $2,500 when premium interest rate conditions are met, you will earn our My Savings standard interest rate.