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First National Bank of Cokato

First National Bank of Cokato

Savings

We are prohibited by law from paying interest on most business checking accounts; however, we do offer favorable rates to businesses on Savings* and Money Market* accounts. These accounts are designed for excess cash management a business may have from time-to-time. Stop by to open an account today!
 
 

Regular Savings

  • Interest rate may vary.**
  • If the balance falls below $50 any day during the month, a service charge of $1.00 for the month will be assessed.
  • Choice of electronic or paper statement, provided quarterly. If an electronic transaction occurs during a month, the statement will generate monthly.
  • You may make six (6) pre-authorized, automatic, electronic, or telephone transfer withdrawals from your account each calendar month. These transactions include:
    • Automatic transfers from Savings into another account (does not include loan payments to First National Bank)
    • Check payable to a 3rd party
    • Debit card transaction
    • Transfers to another account of the same depositor, or to a 3rd party, made by:
      • Automatic transfer
      • ACH
      • Telephone
      • Fax
      • First National Bank online banking
 

Money Market Savings

  • Interest rate may vary.
  • Interest is compounded and credited to the account quarterly.
  • No service charge if a balance of $2,500 is maintained.
  • If the balance falls below $2,500 any day during the month, a service charge of $5.00 for the month will be assessed, and the account may earn interest at a reduced rate.
  • Choice of electronic or paper statement, provided quarterly. If an electronic transaction occurs during a month, statement will generate monthly.
  • You may make six (6) pre-authorized, automatic, electronic, or telephone transfer withdrawals from your account each calendar month. These transactions include:
    • Automatic transfers from Money Market Savings into another account (does not include loan payments to First National Bank)
    • Check payable to a 3rd party
    • Debit card transaction
    • Transfers to another account of the same depositor, or to a 3rd party, made by:
      • Automatic transfer
      • ACH
      • Telephone
      • Fax
      • First National Bank online banking


*Other terms and conditions apply. Contact us for further details.
**Interest is compounded and credited to the account quarterly.  Interest is not paid when balance falls below $50.