Savings Accounts
Achieve Your Savings Goals
with F&M Bank’s Products
Regular Savings
- Minimum opening deposit $100
- Allowed 3 withdrawals per quarter
- Withdrawals exceeding limit, a $2 per transaction Excessive Activity Fee will apply
- Withdrawals or transfers in person are unlimited
Money Market Account
- Minimum opening deposit is $1,000
Maintain $1,000 daily balance to avoid $10 Base Charge fee - Withdrawals or transfers in person are unlimited
CDs
- Minimum deposit of $500 to open (rates will vary according to the term)
- Certificates of Deposits are available from 6 to 60 month terms; rates will vary according to the term
- Early withdrawal penalty may apply
- After the account is opened you may not make additional deposits
- Interest may be reinvested, deposited to another account, or paid out by check
- Pays a competitive rate of interest through maturity date
- Maturity notice is mailed ten days prior to maturity date
- Certificates can be used as collateral on loans
IRAs
- Minimum deposit of $500 to open
- Fixed-rate CDs 12, 24, 36, 48, and 60 month terms available; rates will vary according to the term
- All interest earned is tax-deferred until withdrawal
- Available for withdrawal at age 59 ½
- No IRS penalty for withdrawal at age 59½ and over
- Required Minimum Distributions (RMD) at age 70½
- Please consult with your tax advisor about any and all IRA transactions