Savings Accounts | Let your money work for you with a First Minnetonka City Bank Savings Account
When placed in a First Minnetonka saving account, your money will work for you. We offer you the following savings accounts to make savings simple and convenient.
|Money Market Savings Account||Advantage Savings Account||Thrift Savings Account||Health Savings Account (HSA)*|
|Minimum Balance to Avoid Monthly Maintenance Fee||$1,000 to avoid $10 fee||$200 to avoid $3 fee||$50 to avoid $2 fee||None (flat $3 monthly maintenance fee)|
|Frequency for Compounding Interest||Monthly||Quarterly||Quarterly||Monthly|
|Limit 6 transfers per month|
|VISA® Debit Card
* Requires an eligible individual with a High Deductible Health Plan.
A $50 minimum deposit is required to open Money Market, Advantage or Thrift Savings Accounts. Check out our great rates for current rates and additional terms and conditions. Interest rates are subject to change. See Truth in Savings Disclosure for details.
Health Savings Accounts (HSA)
Now you don't have to be sick to realize benefits on the money you pay for health insurance coverage. An HSA allows those covered by a high deductible health insurance plan to pay for qualified medical expenses with tax free dollars. Contributions to an HSA are fully deductible, the earnings grow tax deferred, and distributions to pay or reimburse qualified medical expenses are tax free. Each year, the money you save on lower health insurance premiums can be deposited into this tax-favored savings account and the funds you accumulate rollover from year to year.
The IRS publication 969, Health Savings Accounts and Other Tax-Favored Health Plans, found on the IRS web site can provide detailed information about HSAs.
A $25 minimum deposit is required to open a Health Savings Account. Check our great rates for current rates and additional terms and conditions. Interest rates are subject to change. See Truth in Savings Disclosure for details.
Certificates of Deposit (CDs)
Save money the safe way or earn extra on the money you're saving for a purchase by investing in a CD. First Minnetonka's CDs earn fixed interest rates. Most CDs require a $1,000 minimum investment.
Check our great rates for current rates and additional terms and conditions. Interest rates are subject to change.