Savings Accounts

M&F Bank can help you find the savings account that’s right for you, your family and your life today — from CD’s to Money Markets that offer long-term convenience, and security.

Even more important, we’ll work closely with you to make sure that even as your needs change, you’ll have established a banking relationship you can count on for years to come.

	Statement Savings	Golden Years	Christmas Club	Youth Savings
	The more you save now, the more options you will have when it comes to making large purchases or planning for life ahead.	Let your life experience work in your favor, with this low-cost savings account intended for those 55 and older.	Get yourself in the holiday spirit all year long. Save the same amount every time, or vary amounts throughout the year.	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.
Minimum to Open	$100	$25	$25	$25
Minimum Balance	$100 minimum balance to earn interest	$100 minimum balance to earn interest	$0	$100 minimum balance to earn interest
Maintenance Fees	$200 minimum daily balance to waive maintenance fee; otherwise: $6 maintenance fee per statement cycle	$200 minimum daily balance to waive maintenance fee; otherwise: $3 maintenance fee per statement cycle	$0	$0
Transaction Limits	Three preauthorized transactions per month at no charge; $2 excessive withdrawal fee for each transaction over three; 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	Three preauthorized transactions per month at no charge; $2 excessive withdrawal fee for each transaction over three; 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		Three preauthorized transactions per month at no charge; $2 excessive withdrawal fee for each transaction over three; 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 Investment Account

Make your money work harder. This limited transaction account offers interest at money market rates and provides you the ability to withdraw funds when necessary. Low maintenance fee with full account benefits. Check the features and benefits below and open an account today.

Minimum to open	$1000
Monthly Maintenance Fee	$12 with electronic statement / $14 with paper statement
Minimum Balance	$5,000 minimum daily balance to waive maintenance fee $2,500 minimum daily balance to earn interest
Transaction Limits	Three pre-authorized transactions per month at no charge; $5.00 excessive withdrawal fee for each transaction over three; up to six total pre-authorized withdrawals, automatic or telephonic transfers, checks, drafts and debit card or other similar transactions from your account per month or statement cycle

CD’s

	CD
	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.
Minimum to Open	$1,000
Rate of return	Fixed for the entire term
Other Benefits	• Short- and long-term investment options available • Investment principal is protected • Automatic renewal
Other Features	• Substantial penalty for early withdrawal • CD Terms from 3 months to 5 years

IRA

	IRA
	Save securely for retirement while deferring taxes until you access your money, which you can begin doing at age 59½. If you and your spouse do not have qualified retirement plans, some or all of your IRA contribution may be tax-deductible. (Please consult your tax advisor.)
Minimum to Open	$1,000
Rate of return	Variety of fixed-rate investment options available
Other Benefits	• No start-up or annual fees • Detailed quarterly statements
Other Features	• Substantial penalty for early withdrawal

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.

Minimum to Open

$100

Minimum Balance

$100 minimum balance to earn interest

Maintenance Fees

$200 minimum daily balance to waive maintenance fee; otherwise: $6 maintenance fee per statement cycle

Transaction Limits

Three preauthorized transactions per month at no charge; $2 excessive withdrawal fee for each transaction over three; 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

Open Now

Golden Years

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

Minimum to Open

$25

Minimum Balance

$100 minimum balance to earn interest

Maintenance Fees

$200 minimum daily balance to waive maintenance fee; otherwise: $3 maintenance fee per statement cycle

Transaction Limits

Open Now

Christmas Club

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

Minimum to Open

$25

Minimum Balance

Maintenance Fees

Open Now

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.

Minimum to Open

$25

Minimum Balance

$100 minimum balance to earn interest

Maintenance Fees

Transaction Limits

Open Now

Money Market

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.

Minimum to Open

$1000

Monthly Maintenance Fee

$12 with electronic statement / $14 with paper statement

Minimum Balance

$5,000 minimum daily balance to waive maintenance fee
$2,500 minimum daily balance to earn interest

Transaction Limits

Three pre-authorized transactions per month at no charge; $5.00 excessive withdrawal fee for each transaction over three; up to six total pre-authorized withdrawals, automatic or telephonic transfers, checks, drafts and debit card or other similar transactions from your account per month or statement cycle

Contact a Branch

CD

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.

Minimum to Open

$1000

Rate of Return

Fixed for the entire term

Other Benefits

• Short- and long-term investment options available
• Investment principal is protected
• Automatic renewal

Other Features

• Substantial penalty for early withdrawal
• CD Terms from 3 months to 5 years

Contact a Branch

IRA

Save securely for retirement while deferring taxes until you access your money, which you can begin doing at age 59½. If you and your spouse do not have qualified retirement plans, some or all of your IRA contribution may be tax-deductible. (Please consult your tax advisor.

Minimum to Open

$1000

Rate of Return

Variety of fixed-rate investment options available

Other Benefits

• No start-up or annual fees
• Detailed quarterly statements

Other Features

• Substantial penalty for early withdrawal

Contact a Branch