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Merchants Bank of Commerce
 

Savings

 
 
 
Accordion 1
Personal Savings

Whether you’re just starting to save or building on what you have, an MBOC personal savings account makes saving easier for you.

THE BASICS:
  • $100.00 minimum to open
  • $250 average monthly balance1 to avoid $6.00 monthly service charge
  • Limit 6 preauthorized transactions each monthly statement cycle; $15.00 fee will be assessed for each additional preauthorized transaction3
THE FEATURES:
  • Tiered interest rates4
  • Unlimited Merchants Bank of Commerce automated teller machine (ATM) and in-branch withdrawals
  • Link to your MBOC checking account as overdraft protection
  • ATM card
1. The average monthly balance is calculated by adding the principal in the account for each day of the statement period and dividing that sum by the number of days in the statement period.
3. Federal regulations limit certain types of withdrawals and transfer transactions you can make from a savings (including Holiday Club Savings) or money market account.
4. Refer to current rate sheet for interest information.
 
Refer to the Account Terms and Conditions for additional information regarding your account and the Schedule of Fees and Services for additional fees that may be assessed. See account disclosure for full details. Fees may reduce earnings on the account.
Accordion 2
Personal Money Market

Build your savings faster with competitive interest rates while having available access to your funds.

THE BASICS:
  • $100.00 minimum to open
  • $2,500 average monthly balance1 or $10,000 in combined monthly balances2 to avoid $15.00 monthly service charge
  • Earn more interest on higher balances4
  • Limit 6 preauthorized transactions each monthly statement cycle; $15.00 fee will be assessed for each additional preauthorized transaction3
  • Check images accessed through online banking will have no charge; there will be a $2.00 charge if you request check images with your monthly paper statement
 
THE FEATURES:
  • Tiered interest rates4
  • Unlimited Merchants Bank of Commerce in-branch withdrawals
  • Link to your MBOC checking account as overdraft protection
1. The average monthly balance is calculated by adding the principal in the account for each day of the statement period and dividing that sum by the number of days in the statement period.
2. The combined balance will include the total average monthly balance of your Personal Money Market account and the average monthly balance of any additional checking or savings accounts that are owned by you. Accounts must have the same vesting to be considered for combined balance purposes.
3. Federal regulations limit certain types of withdrawals and transfer transactions you can make from a savings (including Holiday Club Savings) or money market account.
4. Refer to current rate sheet for interest information.
 
Refer to the Account Terms and Conditions for additional information regarding your account and the Schedule of Fees and Services for additional fees that may be assessed. See account disclosure for full details. Fees may reduce earnings on the account.
Accordion 3
Certificates of Deposit (CDs)

Accelerate your savings with our most attractive interest rates. The term and interest payment options are up to you.

THE BASICS:
  • $500.00 minimum to open
  • 10-day grace period
  • Early withdrawal penalty will apply if the CD is closed before the maturity date
  • FDIC insured in accordance with FDIC regulations
THE FEATURES:
  • Competitive interest rates
  • Flexible terms from 91 days to 5 years
  • Receive interest payments monthly, quarterly, semiannually or at maturity

Refer to the Account Terms and Conditions for additional information regarding your account and the Schedule of Fees and Services for additional fees that may be assessed. See account disclosure for full details. Fees may reduce earnings on the account.
Accordion 4
Holiday Club Savings
THE BASICS:
  • $10.00 minimum to open
  • No monthly service charge
  • Limit 1 withdrawal each calendar quarter, $2.00 charge for each additional withdrawal1
  • Limit 6 preauthorized transactions per statement cycle at no charge, $15.00 charge for additional transactions2
THE FEATURES:
  • Funds are disbursed on November 1 and annually thereafter
  • Set up automatic transfers from your MBOC checking or savings account
  • Work with your employer to automatically deduct a specified amount from your payroll check
1. In the event the account is closed prior to November disbursement, account may be subject to a $7.00 early closure fee.
2. Federal regulations limit certain types of withdrawals and transfer transactions you can make from a savings (including Holiday Club Savings) or money market account.
 
Refer to the Account Terms and Conditions for additional information regarding your account and the Schedule of Fees and Services for additional fees that may be assessed. See account disclosure for full details. Fees may reduce earnings on the account.
 

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