Savings, Money Markets, & IRAs

Banterra's Preferred Savings Account

Saving for something in the future? All it takes to get started on your personal savings plan is $100.

• $100 minimum to open ($2 monthly service charge if balance drops below minimum)
• Interest - $100 minimum balance required
• Transfers from a savings account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per month with no transfers by check, debit card, or similar order to third parties
• A per-item service charge of $2 will be charged for each withdrawal in excess of four per month

Smart Kids Savings Account

This account teaches kids the importance of saving:

• $10.00 minimum to open
• No monthly service charge
• Interest - Minimum balance required.
• Minimum balance to obtain Annual Percentage Yield on account is $10.00
• A per-item service charge of $1 will be charged for each withdrawal in excess of three per month
• Automatically changes to Banterra's Preferred Savings Account at age 22

Money Market Account

Our Money Market Account is a great account for those individuals that want to earn a higher interest rate but must maintain the liquidity of their funds.

• $2,500 minimum to open
• Interest - $2,500 minimum balance required
• Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle
• $8.50 service charge fee each statement cycle unless a minimum daily balance of $1,500 or a minimum average daily balance of $2,500 is maintained

Banterra’s Preferred Money Market (Tiered)

Designed for balances of $10,000 or more, this account features a premium interest rate.

• $10,000 minimum to open
• A Service Charge of $10 per statement cycle will be waived with $10,000 minimum daily balance in combination of identified Banterra’s Preferred Money Market, NOW, Savings, Money Market Deposit Account, Certificate of Deposit or Home Equity Line of Credit accounts.
• Higher rate of Interest ($10,000 minimum balance required)
• Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.

Individual Retirement Accounts (IRAs)

A variety of IRAs are available to allow qualified wage earners to build a substantial retirement fund or save for other future investments. Qualified individuals may be allowed a tax deduction for their contributions (Consult your tax advisor). Fixed Rate, Roth, and Educational IRAs are available.

Substantial penalty required for early redemption of all IRAs.

Banterra's Health Savings Account (HSA)

A Health Savings Account (HSA) is an account that you can put money into to save for future medical expenses. There are certain advantages to putting money into these accounts that may include favorable tax treatment. For more information go to www.treas.gov/offices/public-affairs/hsa/.

Any adult can contribute to an HSA if they:

• Have coverage under an HSA-qualified "high deductible health plan" (HDHP)
• Have no other first-dollar medical coverage (other types of insurance like specific injury insurance or accident, disability, dental care, vision care, or long-term care insurance are permitted)
• Are not enrolled in Medicare.
• Cannot be claimed as a dependent on someone else's tax return.