Personal Savings Accounts

Savings Options for the Things you Need and the Future you Want.

Account Type	Money Market Savings	Personal Savings	Christmas Club
Minimum to Open	$100.00 Minimum Deposit to Open	$100.00 Minimum Deposit to Open	$10.00 Minimum Deposit to Open
Minimum Balance	$1,000.00 Average Daily Balance^⊕ to Avoid Fees	$100.00 Average Daily Balance^⊕ to Avoid Maintenance Fees $500.00 Average Daily Balance^⊕ to Avoid Debit Fees	No Minimum Balance
Transaction Limitations	N/A	N/A	$10.00 Per Month Minimum Deposit
Account Advantages	Free F&M Online Free Mobile Banking Free Mobile Deposit Free Notifi Account Alerts	Free F&M Online Free Mobile Banking Free Mobile Deposit Free Notifi Account Alerts	Christmas Club year begins December 1st and ends November 1st* Deposits: A designated amount will be automatically deducted from a Farmers & Merchants State Bank account and deposited to your Christmas Club Account on the first day of each month* * If a transfer date is a non-processing day for us, then the transfer will be made on the first processing day before the scheduled transfer date. Withdrawals: The entire balance in your account will be withdrawn during the first week of November, and paid to you by check or deposited into your F&M State Bank account.
Maintenance and Debit Fees	$10.00^φ/month Maintenance Fee if average daily balance^⊕ falls below $1,000.00 and a debit fee of $5.00^φ will be charged for each debit transaction^∇ in excess of 6 during a monthly statement cycle regardless of the balance maintained.	$5.00/month Maintenance Fee if average daily balance^⊕ falls below $100.00 and a debit fee of $1.00 will be charged for each debit transaction^∇ in excess of 6 per month if average daily balance^⊕ falls below $500.00 for the monthly statement cycle. Refer to Maintenance and Debit Fee Exceptions Below	No Maintenance Fees
Interest Rate^§	Interest Rates	Interest Rates	Interest Rates
Dormant Fee	$5.00^φ/month with no activity for 12 months if average daily balance^⊕ falls below $500.00^φ	$5.00/month with no activity for 12 months if average daily balance^⊕ falls below $500.00	N/A

Maintenance and Debit Fee Exceptions: Fees will not apply to: Ages 65 and older, children age 18 and younger, conservatorship for individuals 65 and older, or individuals under age 18.

⊕The average daily balance is calculated by adding the principal in the account each day of the period and dividing the total by the number of days in the period.

∇Debit Transaction means any withdrawal, check paid, automatic transfer or payment out of this account.

§At our discretion, the interest rate and annual percentage yield may change weekly. Interest will be compounded daily. Interest will be credited to your account monthly. Interest begins to accrue on the business day you deposit noncash items (i.e. Checks). We use the daily balance computation method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest rate and annual percentage yield may change.

φThis fee is subject to Iowa State Sales Tax