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savings
PERSONAL
We offer a variety of traditional savings products to meet your individual needs. Our full-service Investment Department is available for alternative options. A minimum deposit of $100 is required to open all Savings accounts unless otherwise stated. Please refer to our Rate Chart for current interest rates.
MONEY MARKET SAVINGS
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Minimum balance of $1,000
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Below balance monthly charge of $10.00 and $.50 per withdrawal or debit in excess of three per month
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Tiered interest rates
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Free ATM transactions at any Lake Elmo Bank ATM location
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8 Free ATM transactions per month at any non-Lake Elmo Bank ATM; additional at $.50 each
ATM surcharges may be assessed by non-Lake Elmo Bank ATMs
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Excess Reg D withdrawal fee may apply
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| Interest compounded monthly |
TRADITIONAL SAVINGSsm
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Minimum balance of $200*
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Below balance monthly charge of $3.00 and $.50 per withdrawal or debit in excess of three per month
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Free ATM transactions at any Lake Elmo Bank ATM location
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4 Free ATM transactions per month at any non-Lake Elmo Bank ATM; additional at $.50 each
ATM surcharges may be assessed by non-Lake Elmo Bank ATMs
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Excess Reg D withdrawal fee may apply
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Interest compounded quarterly
*Minimum balance and minimum opening deposit waived for children until the age of 18. On the minor's 18th birthday, this account automatically becomes subject to the monthly service fees of the Traditional Savings account. |
THRIFT SAVINGS
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$50 minimum opening deposit |
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Minimum average balance of $50 |
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Below balance monthly charge of $5.00 and $.50 per withdrawal or debit in excess of three per month |
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Daily minimum balance of $100 required to earn interest
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Excess Reg D withdrawal fee may apply
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| Interest compounded quarterly |
CHRISTMAS CLUB SAVINGS
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$10 minimum opening deposit. Minimum opening deposit waived if a recurring AFT or ACH deposit is established.
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If more than one withdrawal per year is made on this account, a $5.00 fee will be charged for each subsequent withdrawal, plus $.50 per withdrawal or debit in excess of the three (3) per month will be assessed. |
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Excess Reg D withdrawal fee may apply
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| Interest compounded quarterly |
CERTIFICATES OF DEPOSIT
| Choose a Certificate of Deposit that meets your term and balance needs. Higher interest rates available for balances over $25,000. See Rate Chart for specific details. |
IRAs
| Find out how one of our IRA products can work for you. |
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Traditional |
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Roth |
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Education |
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SEP (Simplified Employee Pension) |
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