Personal Savings 

 

Compare Our Savings Accounts

Account TypeRegular SavingsMoney Market SavingsFive Star Money Market SavingsStar Savers Savings

Description

Regular Savings is our convenient and easy to access savings account for the traditional saver.

Money Market Savings is one of our higher interest earning savings accounts for your larger account balances, with liquidity.

Our savings account with our highest earning potential. You can enjoy monthly compounding with tiered interest rates.

A savings plan for youth under the age of 18 to encourage them to save for their future.

Opening Deposit

$50

$1,000

$5,000

$25

Interest

Interest accrued on days that collected balance is $50.00 or more and is paid quarterly

Variable market rates; interest accrued daily on collected balance and is compounded and paid quarterly. Rates are tiered to give you higher rates for your higher balances.

Variable interest rates; interest accrued daily on collected balance and is compounded and paid monthly, rates tiered at $5,000.00 and $25,000.00 balances. Rates are tiered to give you higher rates for your higher balances

Variable rate, interest accrues daily on collected balance of $25.00 or more and is compounded and paid quarterly

Minimum Balance Required

$50

$1,000

$5,000

$0.00

Monthly Charge

$3 monthly charge if balance falls below minimum required any day of the month

$10 monthly charge if balance falls below minimum required any day of the month

$15 monthly charge if balance falls below minimum required any day of the month

$0.00

Fees may reduce earnings

Certificates of Deposit

Certificates of Deposit are an ideal investment for those interested in longer-range investment goals. You can earn higher market rates guaranteed for the life of your certificate.

  • Opening Balance: $500 to open an account
  • Interest: See current rates 
  • Features: Wide range of terms available
    A penalty may be imposed for early withdrawal

IRA Money Market Savings Plan

Our IRA Money Market Savings account will allow you to make continuous deposits and consolidate your retirement funds. You may choose to set up a monthly transfer from your North Star Bank checking account to fund your IRA savings account, to meet your annual deposit goal.

  • Deposits in any amount, up to the annual amounts allowable by the Internal Revenue Service
  • Variable interest rate; accrues daily on collected balance and is compounded and paid monthly
  • $50.00 minimum opening deposit required

IRA’s are insured separately up to $250,000.00 by the Federal Deposit Insurance Corporation.

IRA Time Accounts

All North Star Bank Savings Certificates are available for your IRA investment with only a $500.00 minimum to open for most accounts.

  • Terms available for investment from 30 days up to 5 years
  • Interest rates based on current market conditions
  • Automatically renewable
  • A penalty may be imposed for early withdrawal
  • $500.00 minimum deposit to open for most accounts

IRA’s are insured separately up to $250,000.00 by the Federal Deposit Insurance Corporation.

Your IRA contribution may be fully or partially tax deductible, please consult a qualified tax advisor. Because IRA’s are designed as retirement savings, you cannot withdraw funds from the account without a tax penalty before you are the age 59 ½. Some exceptions may apply.

IRA Time Accounts are offered at the same rates as our Savings Certificates.

Health Savings Accounts

Qualified individuals eligible under a high-deductible health plan can establish a Health Savings Account. This account is a potential tax advantage to offset high deductible health plan expenses. All unused contributions stay in your account, earning tax-deferred interest until you need them. The money in your HSA also remains available even if you change health plans, employers, or retire.

  • Opening Balance: $100 to open account
  • Features:
    • $25 setup fee
    • No minimum balance
    • Interest is paid on all balances
    • No monthly charge if account is accessed with the HSA Debit/ATM Card
    • $5 monthly charge if one or more checks post to account during the month.
 

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