Savings & CDs
Choose an account that fits your lifestyle, not the other way around.
Savings accounts offer liquidity, easy access, and a safe place to accumulate funds. CDs provide higher interest rates with fixed terms, promoting disciplined saving and guaranteed returns, ideal for specific financial goals.
Elevate your financial strategy with Midwest Bank savings accounts
Our savings accounts offer secure deposits, competitive interest rates, and easy online management, empowering you to save for goals confidently. Whether you’re saving for a rainy day or a dream vacation, start maximizing your funds with convenience and peace of mind today.
Savings Account Types & Benefits
Midwest Savings
A simple savings account that offers you flexibility to easily deposit and withdraw money.
- $100 minimum balance (waived if under age 25)
- Service charge ($5) waived with a balance over $100
- Competitive interest rate on all balances
- 6 withdrawals allowed per month
Premier Money Market
Earn higher interest and keep easy access to your account.
- $5,000 minimum balance
- Service charge ($10) waived with a balance over $5,000
- Competitive interest rates increase with account balance
- 6 withdrawals allowed per month
- Unlimited in-person withdrawals
Health Savings Account
Sometimes medical expenses are unexpected. Start saving today with an HSA.
- Tax-free account for healthcare expenses
- No set-up fee
- Service charge ($5) waived with a balance over $100
- Account earns interest on all balances
- Checks and debit cards available
| Midwest Savings | Premier Money Market | Health Savings Account (HSA) | |
|---|---|---|---|
| Minimum balance | $100 (waived if under age 25) | $5,000 | |
| Monthly service charge | $5 (waived with a balance over $100) | $10 (waived with a balance over $5,000) | $5 (waived with a balance over $100) |
| Withdrawals | 6 per month | 6 per month or unlimited in person |
CD Types & Benefits
Long-term savings investment. Lock-in interest and watch your money grow. CDs mature after a set period of time. We offer competitive rates and terms, plus an automatic renewal option for your convenience. CDs offer a stable source of savings over a lifetime.
Promotion
- Fixed rate for the term of the CD
- Terms from 3 months to 13 months
- Competitive interest rates available based on promotion
- Rates and terms vary and a penalty applies for early withdrawal
Flex
- Accessible 12-month CD
- Make periodic deposits and withdrawals during the 12-month term
- Rates may vary and a penalty applies for early closing withdrawal
Standard
- Fixed rate for the term of the CD
- Terms from three months to five years
- Competitive interest rate increase with account balance
- Rates and terms vary and a penalty applies for early withdrawal
Round Up is an easy way to save
Save money each time you use your debit card when you sign up for Round Up. Your debit card transactions are automatically rounded up to the nearest dollar. The difference is automatically transferred from your checking account to your other Midwest Bank account (checking or savings).
Call your local branch to set up Round Up
Savings Calculator
Our calculator helps you figure out how much your current savings will grow and how much more you’ll need to save in order to achieve your set goal.
Frequently Asked Questions
Who is eligible for an HSA?
If you are covered under a qualifying high deductible health insurance plan that is compatible with an HSA, and meet the other requirements set by the IRS, you are eligible.
Why would I want to open a CD?
Our Certificates of Deposit are a great way to save money and reach your financial goals with our competitive CD rates.
How am I notified when my CD is mature?
A maturity notice will be mailed or emailed to you a couple weeks prior to the maturity of your CD.
How long is my grace period?
Your grace period extends for a total of 10 calendar days.
What is the penalty for early withdrawal from a CD?
Penalties vary according to the term of the CD.
We’re here to help
Call your local branch or contact us online.
Related Resources
All resources
Mobile App
Midwest Bank’s free app is a fast, convenient and secure service provided to our Online Banking users. Now you can manage your money anytime, anywhere from your mobile device!
Learn more
Personal Checking
Manage your money your way. Our checking accounts provide the flexibility to meet your lifestyle and financial needs, letting you manage your money more effectively.
Learn more