Regular Savings Account: Grinnell State Bank savings accounts are a great way to start your very own “Nest Egg”. This interest bearing account has no maintenance fee, offers 3 free withdrawals per month and is a great way to supplement a Grinnell State Bank Checking account! Higher Interest Rates are paid to higher amounts of deposit. Current Rate Tiers are set at $500, over $500, over $5,000, over $50,000, over $100,000 and over $200,000. Interest will be compounded and credited to your account monthly.  

 

College Fund: Grinnell State Bank offers its customers one of the best interest rates in the bank as a great way to plan ahead and save for your Child’s future! There is a minimum opening deposit of $250, however once the account is open, any deposit will be accepted. This account can be controlled by a parent or grandparent and may be maintained/owned in the child’s name for tax purposes. The Fund matures June 30th following the child’s 18th birthday. Any amount may be withdrawn at any time thereafter by the custodian. At age 21, the remaining balance is paid to the child or transferred to a regular Savings Account. The fund may be used for any purpose and does not need to be used only for college; however there is a penalty for early withdrawal.  

 

 

 

 

For details on any of these accounts please feel free to call us at 641.236.3174 or 1-800-236-3187. or email; customerservice@grinnellbank.com