Savings and Money Market Accounts
Money Market Accounts
A Fannin Bank Money Market account is for those who want to earn more interest than a Now Checking can provide and still have easy access to their money. Our Money Market account includes the Fannin Bank Visa-banded debit card with real-time fraud monitoring, global acceptance, a digital wallet with Apple Pay, Android Pay or Samsung Pay, and monthly statements with check images. You can make six withdrawals per statement cycle with no fee, but you will pay a $10.00 Excess Check Charge for each withdrawal above six. You pay no service charge fee if your balance does not fall below $2,000.00 during the statement cycle. If your balance falls below $2,000.00 during the statement cycle, you will pay a $15.00 Service Charge Fee. To open a Money Market account, you need a minimum of $2,000.00.
Rate information: Money Market – Tier 1, an interest rate of 0.5%, will be paid on the entire portion of your daily balance, less than $25,000.01. The annual percentage yield (APY) for this tier is 0.5%. Tier 2, an interest rate of 1.5% will be paid on the entire portion of your daily balance of $25,000.01 to $100,000.00. The annual percentage yield (APY) for this tier will range from 1.51% to 0.5%, depending on the daily balance in the account. Tier 3, an interest rate of 3.75%, will be paid on the entire portion of your daily balance, $100,000.01 or more. The annual percentage yield (APY) for this tier will range from 3.82% to 0.5%, depending on the daily balance in the account. Interest rates are subject to change after the account has been opened. Earnings could be reduced due to fees for additional services. The interest rate is accurate as of November 1, 2024.
Statement Cycle Information: The statement cycle is the time between two issued statements.
Savings Accounts
The Fannin Bank Savings Account is a great way to start saving for your future today. You can use the savings account to put money aside for a new car, vacation, a downpayment on your dream home, or a rainy day fund. You can create automatic transfers from your Fannin Bank checking account to your savings account, so you don’t have to remember to save. There is no Service Charge Fee if your balance does not fall below $100.00 during the statement cycle. If your balance falls below $100.00 during the statement cycle, there will be a $2.00 Service Charge Fee. You can make two withdrawals each month at no charge. There is a $3.00 Excess Check Charge per withdrawal over two each month. Your interest is compounded and credited to your account quarterly. If you close your account before the interest is credited, you will not receive the accrued interest. To open a Fannin Bank Savings Account, you need a minimum of $100.00.
Statement Cycle Information: The statement cycle is the time between two issued statements.
Interest Rate Information: Interest rates are subject to change after the account has been opened. Earnings could be reduced due to fees for additional services.
Certificates of Deposit (CD)
A certificate of deposit (CD) is an account that pays a higher interest rate than a traditional savings, money market, or checking account and is unaffected by market changes during the deposit term. A CD is a more conservative and safer investment than stocks and bonds and is FDIC-insured up to $250,000.00. Whether you are looking for short-term savings or locking in your savings for a longer period, Fannin Bank has a CD to fit your needs. We offer competitive interest rates on our CDs, ranging from six months to five years.
Fannin Bank offers unique six and twelve-month rates for people who bring new deposits of $10,000.00 or more. Contact us today for more information and learn how Fannin Bank can help you achieve your savings goals. A penalty may be imposed for early withdrawal.