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, start an online chat, 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!
Savings Accounts
 

Savings

Student Savings

Money Market Account

Health Savings Account (HSA)2

Christmas Club

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
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Minimum Balance to avoid service charge

$100

None

$2,500

None

None

Extras

  • Nine free withdrawals are available each quarter
  • Nine free withdrawals are available each quarter
  • Check writing capabilities
  • Free debit card
  • Three free paper debit withdrawals each month
  • Check writing capabilities
  • Free debit card
  • Ten free paper debit withdrawals each month
  • Bank will make your last 'scheduled' deposit

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, start an online chat, or stop in. We’re happy to help guide you through your choices.

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