F & M Bank - Established 1893
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Personal Banking > Savings
 

Savings | Checking | IRAís & CDís | Other Services | Rates
 
We offer several savings accounts to meet your banking needs. To learn more about specific account features, check out the individual account types that interest you.

Passbook Savings  |  Money Market Savings

Passbook Savings Account

Rate Information: Your interest rate and annual percentage yield may change.
Frequency of Rate Changes: We may change the interest rate on your account at any time.
Determination of Rate: At our discretion, we may change the interest rate on your account.
Compounding and Crediting Frequency: Interest will be compounded semiannually. Interest will be credited to your account semiannually.
Effect of Closing an Account: If you close an account before interest is credited, you will not receive the accrued interest.
Minimum Balance to Open: You must deposit $25.00 to open this account.
Daily Balance Computation Method: 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.
Accrual of Interest on Noncash Deposits: Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction Limitations: Transfers from a Savings account to another account or to third parties by preauthorized, automatic or telephone transfer are limited to six per month.

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Money Market Savings Account

Rate Information: Your interest rate and annual percentage yield may change.
Frequency of Rate Changes: We may change the interest rate on your account at any time.
Determination of Rate: At our discretion, we may change the interest rate on your account.
Compounding and Crediting Frequency: Interest will be compounded every month. Interest will be credited to your account every month.
Effect of Closing an Account: If you close an account before interest is credited, you will not receive the accrued interest.
Minimum Balance to Open: You must deposit $1000.00 to open this account
Minimum Balance to Avoid Imposition of Fees: A minimum balance fee of $6.00 will be imposed each monthly cycle if the average daily balance for the monthly statement cycle falls below $1000.00. The 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.
Average Daily Balance Computation Method: We use the average daily balance method to calculate the interest on your account. This method applies a periodic rate to the average daily balance in the account for the period. The 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. The period we use is monthly.
Accrual of Interest on Noncash Deposits: Interest begins to accrue on the business day you deposit noncash items (for example, checks).
Transaction Limitations: Transfers from a Money Market Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month.
Fees: An excessive withdrawal fee of $1.00 will be charged for each debit transaction in excess of six during a statement cycle.

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FDIC & EHL