Savings

Statement Savings Account

The low minimum balance requirement can be waived if you have direct deposit or a checking account with a combined statement.

  • A quarterly maintenance fee is assessed only if balance falls below $100
  • Competitive interest rate
  • Quarterly statement of account activity
  • Six pre-authorized automatic transfers allowed per monthly cycle
  • Unlimited access to cash in person,via mail or at an ATM

Saving with Swift!

Learning to save at an early age is important. Swift!, Independent Bank’s eagle mascot, can help make saving fun with the Saving with Swift! account – our no-fee savings account for our young customers.

  • Earns interest
  • Easy-to-read quarterly statements
  • No minimum balance
  • No fees for children under 18

Health Savings Account (HSA)

The HSA is a special account owned by an individual like an IRA except that the funds are used to pay for current and future health care costs on a tax-free basis. It is used in combination with a High Deductible Health Insurance Plan (HDHP).

  • Accounts are interest-bearing.
  • Funds are permanent and portable.
  • Debit card allows for convenient access to funds.

Holiday Savers Account

We’ll help you save for holiday expenses.

  • Make payments in any amount
  • Earn a competitive interest rate
  • Checks mailed or deposited in November

Maxi Account

Earn higher interest rates based on the balance you keep. The more you save, the more you earn.

  • Unlimited deposits and withdrawals in person or via mail
  • Six pre-authorized automatic transfers allowed per monthly cycle (three by check)
  • A monthly maintenance fee is assessed only if the balance falls below $1,000

Liquid Asset Account

Interest rates are tied to the 91-day U.S. Treasury Bill and are quoted in The Wall Street Journal and many large daily newspapers. Rates are adjusted weekly and vary according to balance.

  • Unlimited deposits and withdrawals in person or via mail
  • Six pre-authorized automatic transfers allowed per monthly cycle (three by check)

Certificate of Deposit (CD)

We offer a variety of rates and terms on CDs.

  • Invest your money for a length of time that is appropriate for you.
  • Interest rate is guaranteed for the term of your certificate.
  • A CD can be opened with just $1000.

Individual Retirement Account (IRA)

Start planning for your retirement today.

  • Traditional and Roth IRAs available (fixed or contributory).
  • The interest you earn may be tax deferred.
  • Your contribution may be tax deductible.
  • Choose your own investment and term.

Education Savings Account

A Coverdell Education Savings Account can help you pay for your child’s education.

  • Total after-tax contributions of $2,000 per year for each child under 18 are allowed.
  • Contributions and subsequent earnings are tax-free when withdrawn to pay for qualified education expenses.
  • Qualified expenses include tuition, fees, books, supplies and equipment for students in grades K-12 and college.

Please refer to our schedule of service(s) and fees for complete information. See office for transfer application. Some restrictions apply. Consult your tax advisor for details.