Personal Savings
One of the simplest ways we’re helping you grow is by helping you save.
Saving money can be a challenge. Finding the right savings account to fit your lifestyle is a great way to start.
Not sure which one is right for you? Simply give us a call, or stop in. We’re happy to help guide you through your choices.
Ready to open a New Savings Account? You can open one online in minutes.
Open an account online!
Product |
Savings |
Student Savings |
Money Market Account |
Health Savings Account (HSA)2 |
Christmas Club |
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Account Overview |
A basic savings account is a great way to save for your future |
A great starter account for those under 201 |
High yielding, no-fee account for larger balances |
Tax free savings account for individuals with a High Deductible Health Plan |
Put a little money aside each month for next Christmas |
Minimum Balance to avoid service charge |
$100 |
None |
$2,500 |
None |
None |
Extras |
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|
|
|
|
Monthly service charge |
$3 quarterly if balance drops below $100
$2 each withdrawal over nine |
$2 each withdrawal over nine |
$10 monthly if balance drops below $2,500
$5 each paper debit over three |
None |
None |
1 Additional joint owner may be required for minors
2 Eligibility Requirements
Certificates of Deposit
Guarantee a return on your investment with a CD.
Arbor Bank CDs offer you a safe and secure savings option.
- Low minimum to open
- Terms from 90 days to 60 months
- Interest can be compounded to the CD, mailed quarterly by check, or deposited to your checking or savings account.
There may be a penalty for early withdrawal.
Individual Retirement Accounts
An Arbor Bank IRA is a great way to help you grow your retirement savings.
Take control of your future. No matter what your age, it’s not too early or too late to have a plan for your retirement.
Traditional IRA
Your contributions may be tax deductible and the investment earnings can be tax deferred until the time of withdrawal. Penalty-free withdrawals can be made for college expenses or the purchase of a first home. Other withdrawals prior to investment maturity may be subject to penalties.
Roth IRA
Invest after-tax dollars now, receive the growth of tax-deferred earnings, and have the principal amount tax-free when you’re ready to take distributions. Plus, your tax-deferred earnings can become tax-free.
Health Savings Account (HSA)
One way you can help offset the rising costs of healthcare is with an HSA from Arbor Bank. This is not a “use it or lose it” plan. Your unused portion will rollover at the end of the year.
An HSA may allow you to make tax-deductible contributions to pay for qualified medical expenses.
If you currently have or are considering a high deductible health plan (HDHP) or simply want the benefits of saving pre-tax dollars for qualified medical expenses, an HSA may be the right plan for you.
Not sure which plan is right for you?
Simply give us a call, or stop in. We’re happy to help guide you through your choices.