Savings
For unexpected expenses and the ability to make big plans happen.
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.
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!
CDs/IRAs
Looking to earn higher interest and don't need to access the funds quickly? Put your money in a CD or start saving for retirement with an IRA or Roth IRA.
ICS & CDARS
Do you have more than $250,000 and want it covered by the FDIC? Deposit the money with us using CDARS or ICS services and get FDIC coverage under one account.
Specialty Savings
Start a college savings account for your child or grand child, save money for retirement in a SEP account, or save money for medical expenses in an HSA.
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Disclosures:
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.