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Savings

Pay yourself first.

Savings options for all of life's moments.

F&M Bank has a wide array of savings plans designed to provide you the maximum in flexibility, convenience and value with options to help you put your money to work and secure your financial future. Watch your savings grow along with generous interest rates, and have easy access when an opportunity arrives. Trust our accounts for all of life’s moments. 


Compare and decide for yourself.

Choose from savings accounts that reward your loyalty, boost your rates, diversify your retirement portfolio and tuck money away for the holidays (or a well-earned vacation). 

Compare LOYALTY REWARDS SAVINGS1 DIRECT SAVINGS ACCOUNT2 STATEMENT SAVINGS ACCOUNT3 CHRISTMAS CLUB4 FLEX PERSONAL SAVINGS5 CERTIFICATES OF DEPOSIT(CDs)6 INDIVIDUAL RETIREMENT ACCOUNTS (IRAs)7
Works for you if... You want to earn higher interest rates just for using your debit card, direct deposit or ACH You want to earn higher savings account interest rates on higher balances You want a simple go-to account to start building your savings You want to set money aside for the holidays or big-ticket purchases You want higher savings account interest rates and easy access to your funds You want to set it and forget it – pick a term, lock in the rate and watch your money grow You want to save for retirement at a higher rate and with tax advantages
No monthly service fee $3 (waived on balances of $300 or more) $3 (waived on balances of $300 or more) $3 (waived on balances of $300 or more)
Minimum opening deposit $0 $1,000 $100 $10 $2,000 Varies by product and term Varies by product and term
Minimum balance $0 $0 $0 $0 $0 $1,000
Interest bearing 
Free online & mobile banking
Direct Deposit
Free online statments

DISCLAIMERS

APY - Annual Percentage Yield effective as of February 15, 2024. You must have a Loyalty Rewards Checking account to open a Loyalty Rewards Savings Account, and the Loyalty Rewards Checking account must remain open throughout the period that you hold the Loyalty Rewards Savings account. Rates subject to change. If your daily balance  is $100,000 or less, the account is enrolled in eStatements via Online Banking and Loyalty Rewards Checking Qualifiers have been met, the interest rate paid on this account is 2.18% with an annual percentage yield of 2.20%. Assuming a maximum account balance of $150,000, the annual percentage yield will range from 1.49% to 2.18% depending on the balance in the account.When Loyalty Rewards Checking Qualifiers have NOT been met during the monthly statement cycle, the interest rate paid on the entire account balance is 0.07% with an annual percentage yield of 0.07%. Interest will be compounded every month. Interest will be credited to your account on the last business day each month. No minimum balance is required to open this account, earn interest, or receive ATM Fee Refunds. To qualify for the Loyalty Savings Account preferred interest rate, you must be enrolled for eStatements via Online Banking and the following Loyalty Rewards Checking Account Qualifiers must be met: (1) Minimum of 20 Debit MasterCard® must post and settle to the account. (2) Minimum of $500 or greater Direct Deposit or automated clearing house (ACH) debit must post and settle to the account. (3) Have a combined Consumer Relationship Balance of $25,000 or greater (Deposit and/or Loan) based on primary account holder. Transactions must post and settle to your Loyalty Rewards Checking Account during the Monthly Statement Cycle in order to receive preferred interest rate on the Loyalty Rewards Savings. Your Loyalty Rewards Checking account will be linked to the Loyalty Rewards Savings Account. Interest will be compounded every month. Interest will be credited to your account on the last business day each month. Interest earned on your Loyalty Rewards Checking Account will be credited on the last business day each month and automatically transferred to your Loyalty Savings account on the next business day. Fees may reduce earnings. Limit one (1) Loyalty Rewards Savings Account per household.

APY - Annual Percentage Yield effective as of February 15, 2024. Rates are subject to change. Direct Savings only available for new customers or deposits of new funds not currently held with F&M Bank. Interest will be paid on your daily account balance as follows: If your daily balance is $99,999.99 or less, the interest rate paid on the entire balance will be 1.93% with an APY of 1.95%.  If your daily balance is $100,000.00-$249,999.99, the interest rate paid on the entire balance will be 2.20% with an APY of 2.22%. If your daily balance is $250,000.00-$499,999.99, the interest rate paid on the entire balance will be 2.45% with an APY of 2.48%. If your daily balance is $500,000.00 or greater, the interest rate paid on the entire balance will be 2.70%% with an APY of 2.74%. Interest will be compounded every day. Interest will be credited to your account every quarter. A minimum deposit $1,000.00 to open this account. A $3.00 monthly service fee will be charged if a $300.00 minimum balance is not maintained each day during the month. This fee will be assessed on the last business day of the month.  Fees may reduce earnings. Limit one (1) Direct Savings account per household. 

4Penalty for early withdrawal. Funds disbursed in October.

6Account features and interest rates vary based on product and term.

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