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Savings

Start Saving Smarter

Banterra offers a variety of savings accounts to meet your growing needs. Whether you are planning for your child’s education or your retirement, or simply reaching personal savings goals or having a safety net for what life may throw your way, we have a saving product to help you. You can open an account online or stop by a Banterra Banking Center near you. 

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Your Savings Account Choices

Banterra Preferred Savings

Minimum Requirements

  • $100 minimum to open
  • $100 minimum daily balance in order to earn interest

Features

  • Option of no monthly fee ($2 monthly fee can be avoided by maintaining a minimum balance of $100)
  • Option to earn interest in your savings account
  • Up to six (6) transfers per month

Benefits

  • Earn tiered interest based on your account balance

Banterra SmartKid Savings

Minimum Requirements

  • $10 minimum to open
  • Minimum balance of $10 required to earn interest

Features

  • No monthly fee
  • Three (3) monthly withdraws at no charge (additional withdraws per month have a $1 per-item fee)
  • Up to six (6) transfers per month

Benefits

  • Automatically changes to Banterra's Preferred Savings Account at age 22

Earn a higher interest rate, but must maintain the liquidity of their funds with two great money market options from Banterra:

Banterra Money Market

Minimum Requirements

  • $2,500 minimum to open
  • Transfers are limited to six (6) per month
  • No monthly fee if minimum daily balance of $1,500 or a minimum average daily balance of $2,500 is maintained per statement cycle. Otherwise, a monthly fee of $8.50 is charged.

Features

  • Set interest rate when daily balance requirement is maintained
  • Set up automatic savings with regular transfers from your Banterra checking account
  • Link to a Banterra checking account to provide 24-hour access to funds through ATM/ITM
  • Link to checking for account transfers
  • Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six (6) per statement cycle

Benefits

  • Higher rates than traditional savings
  • Easily access funds by ATM, ITM or check
  • Utilize and view through Digital Banking
  • Great way to set up automatic savings methods

Banterra Preferred Money

Minimum Requirements

  • $10,000 minimum to open
  • Transfers are limited to six (6) per month
  • No monthly fee if $10,000 minimum daily balance is maintained in combination with Banterra’s Preferred Money Market, NOW, Savings, Money Market, Certificate of Deposit or Home Equity Line of Credit accounts. Otherwise, a monthly fee of $10 is charged.

Features

  • Tiered interest at money market rates based on your daily balance within these tiers:
    • $10,000 to $24,999.99
    • $25,000 to $99,999.99
    • $100,000 to $249,999.99      
    • $250,000 to $499,999.99      
    • $500,000 or more   
  • Interest compounded and credited monthly
  • Set up automatic savings with regular transfers from your Banterra checking account
  • Link to a Banterra checking account to provide 24-hour access to funds through ATM/ITM
  • Link to checking for account transfers
  • Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six (6) per statement cycle

Benefits

  • Higher rates than traditional savings
  • Easily access funds by ATM, ITM or check
  • Utilize and view through Digital Banking
  • Great way to set up automatic savings methods

Banterra Health Savings Account (HSA)

A tax-advantaged personal savings account dedicated to medical expenses.

Minimum Requirements

  • $100 minimum to open
  • Health coverage needs to be under an HSA-qualified, high-deductible health plan (HDHP)

Features

  • No annual fee
  • Competitive interest rates
  • Generate interest with a minimum balance of $100

Benefits

Smart funding source and easy payment options for out-of-pocket medical expenses:

  • Free Banterra Visa® HSA Debit Card
  • Checks for payment with no per-check fee
  • Set up payees utilizing free Bill Pay
  • Free Digital Banking including online and mobile
  • Free usage of Banterra ATMs and ITMs
  • Funds roll over year to year

To utilize an HSA, no other first-dollar medical coverage (insurance such as specific injury insurance or accident, disability, dental care, vision care or long-term care insurance are permitted).

HSA customers cannot be enrolled in Medicare.

HSA customers cannot be claimed as a dependent on someone else’s tax return.

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Preferred Savings Smart Kid Savings (age 21 and under) Money Market Preferred Money Market CDs & IRAs Health Savings Account
Who Would Benefit From This Account Great for earning interest on higher balances accounts that may occasionally have a lower balance A great account to get started saving at an early age The right account if balances are between $2,500 and $10,000 Perfect for a $10,000 minimum balance account while earning more as the balance grows A great way to have options for rates and terms on your money The right account to pair with a high-deductible health plan in order to save and conveniently pay medical expenses
Interest Bearing Tiered Yes Yes Tiered Yes Yes
Minimum Opening Balance and Balance Required to Earn Interest $100 $10 $2,500 $10,000 Varies based on product selected $100
Service Charge $2 per statement cycle if balance falls below $100 None None if a minimum daily balance of $1,500 is maintained or a minimum average balance of $2,500; otherwise $8.50 per statement cycle None if a $10,000 minimum daily balance is maintained in combination of identified Preferred Money Market, NOW, Savings, Money Market Deposit Account, Certificate of Deposit or Home Equity Line of Credit accounts; otherwise $10 fee per statement cycle Penalties assessed for early withdrawal None
Per Item Charge $2 per item for withdrawals in excess of four per cycle $1 per item for withdrawals in excess of three per cycle None None None None
Additional Information Withdrawal limitations apply Automatically converts to Preferred Savings at age 22 Withdrawal limitations apply Withdrawal limitations apply A variety of terms are available Contact any branch for additional information and qualifications
Who Would Benefit From This Account Interest Bearing Minimum Opening Balance and Balance Required to Earn Interest Service Charge Per Item Charge Additional Information
Preferred Savings Great for earning interest on higher balances accounts that may occasionally have a lower balance Tiered $100 $2 per statement cycle if balance falls below $100 $2 per item for withdrawals in excess of four per cycle Withdrawal limitations apply
Smart Kid Savings (age 21 and under) A great account to get started saving at an early age Yes $10 None $1 per item for withdrawals in excess of three per cycle Automatically converts to Preferred Savings at age 22
Money Market The right account if balances are between $2,500 and $10,000 Yes $2,500 None if a minimum daily balance of $1,500 is maintained or a minimum average balance of $2,500; otherwise $8.50 per statement cycle None Withdrawal limitations apply
Preferred Money Market Perfect for a $10,000 minimum balance account while earning more as the balance grows Tiered $10,000 None if a $10,000 minimum daily balance is maintained in combination of identified Preferred Money Market, NOW, Savings, Money Market Deposit Account, Certificate of Deposit or Home Equity Line of Credit accounts; otherwise $10 fee per statement cycle None Withdrawal limitations apply
CDs & IRAs A great way to have options for rates and terms on your money Yes Varies based on product selected Penalties assessed for early withdrawal None A variety of terms are available
Health Savings Account The right account to pair with a high-deductible health plan in order to save and conveniently pay medical expenses Yes $100 None None Contact any branch for additional information and qualifications