The Bank of Elk River serves the financial needs of individuals and businesses in Elk River, Otsego, and Zimmerman Minnesota.
Relationship Banking Benefits listed below are included with all checking accounts:
- Free Online Banking
- Free Bill Pay
- Free eMobile Banking
- Free eStatement or paper statement
- The Bank Cash & Check Card
- 1/2% rate reduction on consumer installment loans with automatic transfer from a Bank of Elk River checking account1,4
- Free check options
- $10 discount annually on Safe Deposit Box rent3
- No fee cashiers checks, Travelers Express money orders
- Earn interest
- $750 minimum balance in checking
Monthly Balance Fee
- $10 if requirements are not met
- Age 50 or over, fees are waived
$25.00 minimum opening deposit required on all accounts (excluding Health Savings Accounts).
1 Subject to credit approval.
2 Your interest rate and annual percentage yield may change at any time at our discretion. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example checks). 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.
3 Subject to availability.
4 Not available on first real estate mortgages; variable home equity lines of credit, or Ready Reserve.