The Bank of Elk River serves the financial needs of individuals and businesses in Elk River, Otsego, and Zimmerman Minnesota.
money market SAVINGS
- Interest compounded daily, paid monthly1,2
- Tiered interest rate2
- ATM cash withdrawals allowed The Bank Cash Card or The Bank Cash & Check Card
- Monthly statement (items safekept at bank)
- Free deposit and withdrawal slips or duplicate Money Market checks
Monthly balance fee is $5 if minimum balance in the account falls below $1000 at any time.
$25.00 minimum opening deposit required on all accounts.
6 free withdrawals per month, $1.50 for each additional withdrawal.3
1) 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 daily and credited to your account on your monthly or quarterly 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.
2) This is a tiered rate account. Your interest rate and annual percentage yield may change based on the daily balance in your account.
3) Limit of 6 transfers or withdrawals by check, debit card, or other methods payable to third parties per calender month.