Personal Savings
Savings Account
- $100 MINIMUM to open account
- $15.00 quarterly service charge if balance falls below
$100 any day of the quarter
- Limit of six (6) withdrawals per quarter; $5.00 per
withdrawal over six (6)
- Variable rate account
- Interest credited to account quarterly
Money Market Account
- $500 MINIMUM to open account
- $10.00 monthly service charge if balance falls below
$500 during a statement cycle; a $5.00 fee will be charged for each withdrawal, check or debit paid in excess of six (6) during the statement cycle
- Unlimited withdrawals may be made via teller or ATM
- Variable tiered rate account
- Interest credited to account monthly
- No interest paid if balance falls below $500
Certificates of Deposit
- $2,500 to open for maturities less than one (1) year
- $500 to open for maturities greater than one (1) year
- Interest paid at maturity on six (6) months or less and quarterly for terms of one (1) year or more
- Substantial penalty for early withdrawal
- Contact a bank representative for current rates.
- Ask about our Easy Riser Certificate
Individual Retirement Account
An IRA (Individual Retirement Account) is an account set up at a financial institution allowing an individual to save for retirement with tax-free growth or on a tax-deferred basis*. Bank of Forest allows you to invest funds using the same APR/APY as our Certificates of Deposit**.
We offer Traditional and Roth IRAs for your convenience.
* Always consult your accountant or financial advisor before opening, contributing to, or withdrawing from an IRA.
**Other rules and penalties may apply