Savings Accounts

Statement Savings Account
Minimum balance to open is $200.00. A monthly fee of $5.00 is assessed if the account balance falls below $200.00 anytime during the month. The monthly service charge can be waived for one year with direct deposit into Magnolia Bank checking account. If more than 6 (six) withdrawals are made in a month, then a $5.00/month fee is assessed.  (Click here to view our rates.)

Health Savings Account
Minimum balance to open is $100.00. There is no monthly fee assessed. There is no minimum balance requirement. FREE Internet Banking and a FREE starter kit of checks is provided. Interest earned is based on tiered balances.  (Click here to view our rates.)

Money Market Account
$1,000.00 minimum balance to open. Minimum balance to earn interest is $2,500.00. The monthly fee is $9.00 if account balance falls below $2,500.00 during statement cycle . You may make 6 (six) transfers from your account each four week or similiar period, if by preauthorized or automatic transfer, telephone agreement, check, draft, debit card, made by the depositor and payable to third parties. There is no limit on the number of in-house withdrawals. Interest rates vary depending on collected balance.  (Click here to view our rates.)

Magnolia Christmas Club Account
Minimum balance to open is $10.00. Existing checking account required.  Automatic transfers from checking, savings or direct deposit are required to fund account.  Additional deposits may be made to account. Interest only credited annually at account payout.  Service charge assessed for withdrawals before payout date.  Full balance of the account will be transferred to funding account on payout date, on or about October 15 each year.  (Click here to view our rates.)

Certificate of Deposit
Certificates of Deposit are available in various terms from 3 months to 5 years.  CD's earn competitive interst rates and are a safe and convenient investment. (Click here to view our rates.)

Individual Retirement Account
Choose from Traditional, Roth, or SEP IRA's in a range of terms from 3 months to 5 years.  IRA's earn competitive interest rates and take the worry out of investing.  Please consult your tax or legal advisor prior to opening or contributing to an IRA.  (Click here to view our rates.)

CDARS
Looking for safety and CD-level rates for your large deposits?  Find out why thousands of safety-conscious institutional investors-businesses, non-profits, public funds/governments-choose CDARS, the easiest way to access multi-million-dollar FDIC insurance through our bank.  (Limits Apply.)  (Click here to view our rates.)