For unexpected expenses and the ability to make big plans happen. 

Savings accounts for a rainy day or a leaky roof. 

A savings account is the perfect place to put your money if you don't need it right away, are saving up for something, or if you would like a safe way to earn interest on your money while being insured by the FDIC. There are several different savings accounts available such as a basic account to a money market account. Each has its own unique offerings.

  • Competitive Interest Rates
  • Digital Banking
  • FDIC-Insured

Money Market Account Options

Money Market Premier

Earn the best interest rates on this premium high-yield savings account. Best for $10,000+ balances.

Money Market Plus Savings

Going for top-tier interest rates? You can’t go wrong with this tiered savings account. Best for $5,000+ balances.

Money Market Savings

Earn great rates with a lower balance requirement on this entry money market account. Best for $1,000+ balances.

Savings Account Options

Statement Savings

Want a simple way to save money and earn interest? This is your savings account.

Economy Savings

Want a budget-friendly starter savings account? Ours requires a minimum balance of just $50.

More Ways to Save

If you have money that you don't need quick access to and you would like that money to work a little harder for you, take a look at these great savings options!

Related Services

Other services worth a closer look.


Calculators are provided by Banzai. This calculator is being provided for educational purposes only. The results are estimates that are based on information you provided and may not reflect The Bank of Elk River product terms. The information cannot be used by The Bank of Elk River to determine a customer's eligibility for a specific product or service. All financial calculators are provided by the third-party Banzai and are not associated, controlled by or under the control of The Bank of Elk River, its affiliates or subsidiaries. The Bank of Elk River is not responsible for the content, results, or the accuracy of information.

¹ Interest rates and annual percentage yields are variable and may change at any time at our discretion. Fees may reduce earnings.

² This is a tiered rate account. Your interest rate and annual percentage yield is based on the tier in which your end-of-day balance falls. 

3 Average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period.