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Personal Savings

Get on your way to reaching your goals.

Personal Savings Accounts

Statement Savings

The more you save now, the more options you will have when it comes to making large purchases or planning for life ahead.

Features

Open with $100 deposit

$100 minimum balance to earn interest

Account Fees

$6 maintenance fee can be waived by maintaining a $200 minimum daily balance*

*Other fees may apply

Transaction Limits

Three preauthorized transactions per month at no charge1

Up to six total preauthorized withdrawals, automatic or telephonic transfers, checks, drafts and debit card or other similar transactions from your account per month or statement cycle

Golden Years

Let your life experience work in your favor, with this low-cost savings account intended for those 55 and older.

Features

Open with $25 deposit

$100 minimum balance to earn interest

$3 maintenance fee can be waived by maintaining a $200 minimum daily balance*

Heading

Remote work

London

5+ years experience

Transaction Limits

Three preauthorized transactions per month at no charge1

Up to six total preauthorized withdrawals, automatic or telephonic transfers, checks, drafts and debit card or other similar transactions from your account per month or statement cycle

Holiday Savings

Get yourself in the holiday spirit all year long. Save the same amount every time, or vary amounts throughout the year.

Features

Open with $25 deposit

$0 maintenance fee*

$0 minimum daily balance

Heading

Remote work

London

5+ years experience

Youth Savings

It’s never too early to get in the habit of saving. So we created this low-cost account specifically for those 21 and younger.

Features

Open with $25 deposit

$100 minimum balance to earn interest

$0 maintenance fee*

Heading

Remote work

London

5+ years experience

Transaction Limits

Three preauthorized transactions per month at no charge1

Up to six total preauthorized withdrawals, automatic or telephonic transfers, checks, drafts and debit card or other similar transactions from your account per month or statement cycle

Money Market

This limited transaction account offers interest at money market rates and provides you the ability to withdraw funds when necessary.

Features

Open with $1000 deposit

$2,500 minimum daily balance to earn interest

Account Fees

$12 maintenance fee with electronic statment/$14 maintenance fee with paper statement

Maintenance fee can be waived by maintaining a $5000 minimum daily balance*

*Other fees may apply

Transaction Limits

Three preauthorized transactions per month at no charge2

Up to six total preauthorized withdrawals, automatic or telephonic transfers, checks, drafts and debit card or other similar transactions from your account per month or statement cycle

CDs

Combine flexibility and security, with a guaranteed interest rate and a fixed term. Plus, you can choose to have the interest added back into the CD principal or have it deposited into an M&F Bank checking or savings account. The more you invest, the better the interest rate.

Features

Open with $1000 deposit

Fixed rate of return for the entire term

CD Terms from 3 months to 5 years

Investment principal is protected

Automatic renewal

Account Fees

Substantial penalty for early withdrawal

IRAs

Save securely for retirement while deferring taxes until you access your money, which you can begin doing at age 59½.

Features

Open with $1000 deposit

Variety of fixed-rate investment options available

No start-up or annual fees

Detailed quarterly statements

Some or all of your IRA contribution may be tax deductible.*

*Other fees may apply

Account Fees

Substantial penalty for early withdrawal

Smart Money Habits Course

Savings Accounts

Choosing a new savings account? There are many different types of accounts and each comes with its own set of features and benefits. Learn more about how different types of savings accounts can help you reach your financial goals.

You may also be interested in:

Checking Accounts

Personal Loans & Lines of Credit

Home Equity Lines of Credit

1. $2 excessive withdrawal fee for each transaction over three. 2. $2 excessive withdrawal fee for each transaction over three.

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