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Root River State Bank
18 SE 3rd St.
P.O. Box 517
Chatfield, MN 55923
(507) 867-4120

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Personal Savings Accounts

We understand that saving is the key to your financial security and have a variety of savings accounts designed to fit your financial needs, including statement savings, money market accounts, Holiday Savings accounts, Certificates of Deposits and IRA's.

 

Next Generation Savings

Features:

• For customers up to age 19
• No minimum balance or monthly maintenance fee
• No dormant fee
• Earn a competitive savings account interest rate
• Interest is compounded daily and credited quarterly
• Opening deposit required of $5.00

Traditional Savings

Features:

• No minimum daily balance or monthly maintenance fee
• Earn a competitive savings account interest rate
• Interest is compounded daily and credited quarterly
• Opening deposit required of $50.00

Heritage Money Market Savings

Features:

• No minimum daily balance required or monthly maintenance fee
• Earn a competitive tiered savings account interest rate
• Interest is compounded daily and credited quarterly
• Opening deposit required of $100.00

Holiday Savings

Features:

• Perfect for saving for the Holiday's
• Earn a competitive savings interest rate (special rate)
• Interest is compounded daily and credited to your account at maturity.
• Opening deposit required of $5.00
• No withdrawals allowed until maturity

Certificates of Deposits - CD’S

Features:

• A variety of terms ranging from 3 months to 60 months
• Minimum deposit of $300
• Interest rates are typically one of the best in the area
• Interest compounded daily
• Atuomatic renewals offered
• Interest penalties for early withdrawal

Individual Retirement Accounts - IRA’s

Features:

• We offer Simple, Traditional, SEP, and Roth IRA’s
• Visit with our friendly customer service staff for which IRA might be right for you.

How can I apply for a savings account?

Services effective as of 5-1-06.

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