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Statement Savings

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Looking for a way to save money and earn interest?

April 22, 2019

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Learn more about the other savings options available!


If you are an existing Bank of Elk River customer enrolled in online banking, you can quickly and easily open a new account! Log into online banking and select ‘Open an Account’ and all of your information with auto-populate. Not enrolled in online banking? Click here to begin.

Benefits

  • Interest compounded daily, paid quarterly¹
  • ATM cash withdrawals allowed with The Bank Cash & Check Card
  • Free quarterly statement
  • Free deposit and withdrawal slips
  • Free Online Banking
  • Free Mobile Deposit Banking

Requirements

  • $25 minimum opening deposit.
  • Maintain a monthly minimum balance of $100 or a $3 monthly balance fee will be charged.
  • For every withdrawal and/or transfer over six in a one-month timeframe, a debit item fee of $0.50 will be charged.

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. Fees may reduce earnings.