Personal Savings

Independence Bank offers a variety of free savings accounts to help you reach your long-term investment or short-term savings needs. You can even access your accounts using our online banking service.


Statement Savings

Up to 6 free withdrawals per quarter to avoid fees

$50.00 minimum deposit required to open an account

Interest compounded and credited quarterly

$5.00 fee if balance falls below $50.00 during the quarter


Vacation Club/Christmas Club

$10.00 minimum deposit required to open an account

Variable deposit amounts allowed

Interest compounded and credited annually

$25.00 fee for closing account or making a withdrawal before maturity


Savings Bonds

After December 31, 2011, Paper Series EE and I Savings Bonds will no longer be sold through financial institutions or by mail-in orders. Purchases made after this date must be done electronically through Treasury Direct by setting up an online account at


Health Savings Account

$50.00 minimum deposit required to open an account

$2 monthly fee

Interest compounded and credited monthly

Tiered rate based on account balance

Contact Independence Bank today for current rates, terms and conditions

Some restrictions may apply


Traditional IRA (invested in certificate of deposit)

Individual retirement account established for the benefit of one person. Contributions into a traditional IRA are a great way to supplement other retirement savings.

Earnings are tax deferred

Contributions may be deductible

Mandatory distributions are required beginning at age 70 ½

Withdrawals are subject to income tax, and, prior to age 59 ½, a 10% federal tax penalty may apply


Roth IRAs (invested in certificate of deposit)

Individual retirement account established for the benefit of one person. Earnings on contributions accumulate tax-free.

No minimum age to open or contribute – must have earned income

Distributions are tax-free if you are at least 59½ and the account has been established for longer than five years

May contribute after age 70½ – must have earned income

No required minimum distribution

Always seek professional tax advice

Account fees:

  • $25.00 outgoing transfer fee to another financial institution
  • Bank forfeiture on early withdrawal may apply


Certificate of Deposit

With competitive interest rates, flexible terms, available monthly interest checks and more, an Independence Bank CD is an attractive, risk-free way to help you start building a stable financial future today.

Call or stop by your nearest Independence Bank location, and we’ll work with you to help determine which product best fits your personal needs.


Download the Personal Checking Products and Services brochure


Withdrawals are restricted by Federal regulations.