A basic savings account is a great option to save for a specific goal or build a savings cushion—just keep a minimum $50 balance to avoid the monthly fee.
- Competitive Interest
- Digital Banking
- Set aside for something specific or simply a rainy day
- Competitive interest on entire balance
- Avoid the $6 monthly service fee by maintaining a minimum average daily balance of $50
- No minimum balance fee for minors
- Limited to 6 free withdrawals per quarter
- Free digital banking services
- $50 minimum balance to open
All savings accounts are FDIC-insured for up to $250,000 in deposits. This means that if your bank were to close, the Federal Deposit Insurance Corporation would reimburse you for your savings account balance. Essentially, a basic savings account is a risk-free way to:
- Build an emergency fund to protect yourself against future unexpected costs or a job loss.
- Save for long-term goals such as a child’s education, a down payment on your first home, retirement, and more.
- Save for big purchases, home renovations, or experiences like a vacation.
To learn more about F&M Bank’s Savings Account, visit your nearest branch location in Edmond, Yukon, Guthrie, Kingfisher, Piedmont, or Crescent, OK. You can also apply online quickly and conveniently from the comfort of your home! Open an F&M Bank checking account to set up auto transfers to your savings account.