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Savings

We offer a variety of savings options to help you plan for the future.

All savings accounts include the following features:

  • Online Banking
  • Mobile Banking
  • Mobile Deposit
  • eStatements
 

Savings Account Options

Savings Account

  • No minimum deposit to open 

Fees

Daily BalanceMonthly Fee

$100.00 or more

$99.99 or less

No fee

$1.00

Withdrawals

One free, $1.00 fee per withdrawal thereafter

 

Interest is accrued daily at Bank of DeSoto current rate, paid quarterly.

Now Account

  • $1,500.00 minimum deposit to open
  • Unlimited withdrawals
  • Bank of DeSoto Debit Card

Fees

Daily BalanceMonthly Fee

$1,500.00 or more

$1,499.99 or less

No fee

$15.00

Interest paid monthly at current Bank of DeSoto rate, below $1,500.00 no interest paid.

Money Market Account

  • $2,500.00 minimum deposit to open

Fees

Daily BalanceMonthly Fee

$2,500.00 or more

$2,499.99 or less

No fee

$10.00

Withdrawals

Three free, $10.00 fee per withdrawal thereafter

Interest paid monthly at current Bank of DeSoto rate, below $1,500.00 no interest paid.

CDs & IRAs

Certificate of Deposit

  • $2,500.00 minimum deposit to open
  • Available from 1 month to 60 months
  • Interest available by compounding or by check
  • Convenient automatic renewal option

Bank of DeSoto's interest rates on CDs fluctuate with current market conditions. CDs may be written to mature on any date. Please ask our New Account Representatives to quote Bank of DeSoto's rate for the desired maturity.

Federal Regulations require substantial penalty for early withdrawal.

Traditional and Roth IRAs

  • $2,500.00 minimum deposit to open
  • Available from 1 month to 30 months
  • Interest available by compounding or by check
  • Convenient automatic renewal option

Contributions for IRAs are invested in Bank of Desoto in time deposits. The IRA contribution limit does not apply to Rollover contributions. Please ask our New Account Representatives to quote Bank of Desoto's rate for the desired maturity.

Balances less than $500.00 will not receive interest.

Federal Regulations require substantial penalty for early withdrawal. 

Ready to start saving?

Speak to our New Accounts Department to get started today.

Contact Us

 

 
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