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Rates

Saving money doesn't have to be hard. Link this account to your free MoneyMaking Checking to turn your monthly rewards into automatic savings.

Key Features

  • Automatic Savings
  • High Interest
  • Free Digital Banking
  • Free high interest account that builds your savings effortlessly
  • Links to free MoneyMaking Checking
  • Automatic transfers of MoneyMaking Checking earnings
  • 0.50% APY1 on balances up to $100,000
  • 0.50% to 0.30% APY1 on balances over $100,000 depending on balance in account
  • 0.05% APY1 if qualifications are not met in MoneyMaking Checking
  • No monthly service fees
  • No minimum balance to earn rewards
  • Free digital banking services, including:
    • Free online banking
    • Free mobile banking2 with mobile deposit
    • Free eStatements
  • $10 minimum deposit to open

It's Easy to Earn Your Rewards

Qualifying for your MoneyMaking Checking rewards automatically qualifies you for the highest MoneyMaking Savings rate, too. Enrollments must be in place and all of the following transactions and activities must post and settle to your MoneyMaking Checking account during each Monthly Qualification Cycle:

  • Have at least 12 Monson Savings Bank debit card purchases post and settle; and
  • Have at least 1 direct deposit or ACH automatic payment post and settle; and
  • Be enrolled in and agree to receive eStatements

That's it. Even if you don't meet your qualifications during the cycle, your MoneyMaking accounts are still free. Plus, you'll still earn our base interest rate on MoneyMaking Savings. And you can get right back to earning your full rewards the very next month.

1APY=Annual Percentage Yield. APYs accurate as of November 26th, 2020.

Rates may change after account is opened. Minimum to open is $10 for MoneyMaking Checking and $10 for MoneyMaking Savings. Minimum to earn APY is $.01. Fees could reduce the earnings on the account. No monthly service fee. Available for personal accounts only. Limit one account per tax owner.  If under 18, requires a parent or legal guardian to be a co-signer on the account.

When the MoneyMaking Checking qualifications are met during a Monthly Qualification Cycle:

  • MoneyMaking Checking: 1) An interest rate of 0.75% will be paid on the portion of your daily balance that is less than or equal to $25,000 and the annual percentage yield (APY) for this tier is 0.75%. An interest rate of 0.10% will be paid on the portion of your daily balance that is greater than $25,000, resulting in an annual percentage yield for this tier ranging from 0.75% to 0.23%, depending on the account’s balance and 2) nationwide ATM fees posted to your checking account during the qualification cycle will be reimbursed and credited to the account on the last day of the monthly statement cycle.
  • MoneyMaking Savings: An interest rate of 0.50% will be paid on the portion of your daily balance that is less than or equal to $100,000 and the annual percentage yield for this tier is 0.50%. An interest rate of 0.10% will be paid on the portion of your daily balance that is greater than $100,000 resulting in an annual percentage yield for this tier ranging from 0.50% to 0.30%, depending on the account’s balance.

When the MoneyMaking Checking qualifications are not met during a Monthly Qualification Cycle:

  • MoneyMaking Checking: The interest rate paid on the entire balance will be 0.05% with an annual percentage yield of 0.05% and ATM fees are not refunded.
  • MoneyMaking Savings: The interest rate paid on the entire balance will be 0.05% with an annual percentage yield of 0.05%.

The MoneyMaking Checking account is intended to be the accountholder's primary checking account in which payroll transactions and day-to-day spending activities including but not limited to grocery, gasoline, apparel, shopping, dining, sporting, and entertainment transactions are posted and settled.

Qualifying transactions MUST post to and settle your MoneyMaking Checking account during the monthly qualification cycle. They may not be in a pending state to qualify as one of the qualifications. Transactions may take one or more days from the date the transaction was made to post to and settle an account. The following transactions do not count toward earning account rewards: ATM processed transactions, transfers between accounts, debit card transactions processed by merchants and received by the bank as ATM transactions, non-retail payment transactions and purchases made with debit cards not issued by our bank. Transactions bundled together by merchants and received by our institution as a single transaction count as a single transaction for the purpose of earning account rewards.

The "Monthly Qualification Cycle" means a period beginning the 3rd Wednesday of the month and ends the business day prior to the 3rd Wednesday of the next month.

The disclosed MoneyMaking Checking APY is based on compounding interest and an assumed total account balance of $125,000.  However, the interest earned in your MoneyMaking Checking account is automatically transferred into the linked MoneyMaking Savings account within one business day, and therefore does not remain in your MoneyMaking Checking account and does not compound. Therefore, actual interest amount paid may be less than disclosed MoneyMaking Checking APY. The disclosed MoneyMaking Savings APY is based on compounding interest and on an assumed total account balance of $200,000.

2Mobile banking is free but check with your carrier about fees for accessing the internet or sending/receiving text messages from your phone. Not all phones supported.