Health Savings Account (HSA)
Balance Your Health and Finances with an HSA from The Bank of Elk River.
Interest rates up to 2.02% APY*
At The Bank of Elk River, we understand the importance of planning for your health and financial well-being. Our Health Savings Accounts (HSAs) offer a smart and flexible way to manage your healthcare expenses while enjoying significant tax advantages.
Health Savings Account (HSA)
An ideal way to set tax-deferred money aside for prescriptions, office visits, and other expenses if you have a high-deductible health plan.
Interest Rates*
| Amount | Interest Rate | Annual Percentage Yield (APY) |
| Less than $1,000.00 | 1.35% | 1.36% |
| $1,000.00 or more, but less than $10,000.00 | 1.65% | 1.66% |
| $10,000.00 or more | 2.00% | 2.02% |
Employers & Partners
As an employer, offering an HSA through The Bank of Elk River is a strategic way to enhance your benefits package and support your employees' health and financial well-being. By partnering with us, you can offer your employees a valuable tool to balance their health and finances, ultimately fostering a more satisfied and productive workforce.
HSA FAQs
Opening an HSA is simple!
Secure your health and financial future today with an HSA from The Bank of Elk River. Visit one of our four locations or give one of our bankers a call today!
Disclosures:
* Your interest rate and annual percentage yield may change at any time at our discretion. Interest will be compounded monthly and credited to your account on every monthly statement. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. This is a tiered rate account. Your interest rate and annual percentage yield may change based on the daily balance in your account. Fees may reduce earnings.