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.
Savings Accounts
Statement Savings | Golden | Holiday Savings | Youth Savings |
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| 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 | Holiday savings disbursements will automatically be deposited into your M&F account annually on or about October 17th. | 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.
CD’s
IRA
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
Minimum Balance
Maintenance Fees
Transaction Limits
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
Minimum Balance
Maintenance Fees
Transaction Limits
Holiday Savings
Get yourself in the holiday spirit all year long. Save the same amount every time, or vary amounts throughout the year.
Minimum to Open
Minimum Balance
Maintenance Fees
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
Minimum Balance
Maintenance Fees
Transaction Limits
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
Monthly Maintenance Fee
Minimum Balance
$2,500 minimum daily balance to earn interest
Transaction Limits
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
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
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
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
