Savings

Savings

As we strive to help customers “Build and Maintain Wealth,” we believe that the good practice of saving will help you achieve success. Bruning State Bank has many saving opportunities for you from a simple account where you can make regular transactions, or an account that you can earn you interest. Review the options below to find the best fit for you!

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Country Savings
Country Savings

You want a simple account to build your savings.

  • Free ATM Card
  • Free Online Banking
  • Free Mobile Banking1
  • 1 free foreign ATM withdrawal per month. ($1.50 each after 1)
  • Earns Interest2. View current rates.
  • $100 monthly minimum average ledger balance ($50 deposit to open)
  • $2 per month if monthly minimum average ledger balance falls below $100

Unlimited transfers permitted between accounts of the same depositor at Bank (if done in person, by messenger, by mail or to pay loans at the Bank).  Transfers to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month including by check, draft, or similar order to third parties.  If account repeats violation of more than six withdrawals per month, Bank must convert to transactional account.

Variable interest bearing account.2 Interest  is credited quarterly.  Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account  each day.

Money Market Savings
Money Market Savings

You want a savings account that pays higher interest for higher balances.

  • Free Online Banking
  • Free Mobile Banking1
  • Earns Interest2. View current rates.
  • $1,000 daily minimum Balance ($1,000 deposit to open)
  • $6 per month if daily minimum balance falls below $1,000

Unlimited transfers permitted between accounts of the same depositor at Bank (if done in person, by messenger, by mail or to pay loans at the Bank).  Transfers to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month including by check, draft, or similar order to third parties. If account exceeds six withdrawals per month, then $6 charge per item. If account repeats violation of more than 6 withdrawals per month, Bank must convert to transactional account.

Variable interest bearing account, tiered interest based on balance.2 Interest is compounded and credited monthly.  If you close the account before interest is paid, you will not receive the accrued interest.  Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account  each day.

CDs & IRAs
CDs & IRAs

Certificates of Deposit (CDs)

A Certificate of Deposit (CD) is a fixed-term savings tool that offers guaranteed yields. Check out our Current Rates to find the investment that best fits your needs.

Individual Retirement Account (IRA)

An excellent tool for retirement and/or education savings.

  • Four types to choose from: Traditional, Roth, and SEP IRAs as well as Coverdell Education Savings.
  • Interest bearing account; compounded/paid monthly.*
  • No annual fee.
  • One free premature distribution per year; $10 fee for each thereafter.
  • $20 fee for transferring funds out or closing the account.
  • Accounts must be opened and/or funded by April 15th.
  • Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

To learn more about contribution limits, deadlines, restrictions, and other IRA-related information, you may visit this helpful IRS website or please feel free to contact one of our customer service representatives! 

 

1Standard text messaging and data usage rates from your phone service provider will apply.

2Please see account Truth in Savings Disclosure for current interest rates.