Products & Services > Savings Accounts
Savings Calculator
Passbook Savings
- Minimum deposit of $100.00 to open this account
- Available as Personal or Business Accounts
- Interest bearing account.
- If your daily account balance falls below $300.00, your quarterly service charge will be $6.00
- You are allowed 9 free withdrawals per quarter. If you exceed this limit your account will be assessed $1.00 for each withdrawal over 9
- You must keep at least $10.00 in this account for it to remain open
- This account becomes dormant after being inactive for a period of 6 months. A dormant fee, the same as a regular service charge will apply for as long as the account remains inactive. This charge will be assessed quarterly.
Direct Deposit Savings
- Minimum deposit of $100.00 to open this account
- Interest bearing account.
- If your daily account balance falls below $300.00, your quarterly service charge will be $3.00
- You are allowed 6 free withdrawals per quarter. If you exceed this limit, your account will be assessed $1.00 for each withdrawal over 6
- You must keep at least $3.00 in this account for it to remain open
- You must be a recipient of direct deposit to open this account
This account becomes dormant after being inactive for a period of 6 months. A dormant fee, the same as the regular service charge will apply for as long as the account remains inactive. This charge will be assessed quarterly.
Christmas Club
- Minimum of 1 weekly payment to open this account in dollar amounts of either $5,$10,$15,$20,$25,$30,or $40
- This account consists of making 50 timely payments throughout the year. Bank of New Madrid will make the 50th payment for you when you make the 49th payment
- A $15.00 fee will be charged if funds are withdrawn prior to November 1st
- This account matures the last day of October, and your check will be mailed to you the first week in November
Youth Savings Account
- Must be 1 month to 18 years of age
- Minimum deposit of $10.00 to open
- Interest bearing account
- No quarterly service charge
- Customer must keep at least $10.00 in this account for it to remain open
- Will turn into a regular savings after customer turns 19 years of age.
Regular Certificates
Bank of New Madrid offers you the opportunity to earn a higher amount of interest on your deposit of $500 or more, for several different terms. Come in and see us about investing your money for a higher rate of return.
- Traditional Individual Retirement Account
Bank of New Madrid offers a Traditional IRA as a great way to build financial security for your retirement. Come in and see us today about eligibility requirements. - Roth IRA
Bank of New Madrid also offers the Roth IRA. The Roth IRA allows after-tax(non-deductible) contributions which enjoy tax-free accumulation. Come in and see if this exciting IRA is the retirement account for you. - Coverdell Education Savings Account
The Coverdell Education Savings Account encourages taxpayers to save for future education expenses. Come in today and see us for more detailed information on this type of account.
Come in and see us about one of the above accounts and the rates we have to offer.