Rates

Rates

CD Specials

  • CD Specials
  • 12-Month CD Special
  • 26-Month CD Special
  • Minimum Balance
  • $2,500
  • $2,500
  • APY
  • 3.51%
  • 4.12%
CD SpecialsMinimum BalanceAPY
12-Month CD Special$2,5003.51%
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26-Month CD Special$2,5004.12%
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  • Disclaimers
  • *12-Month CD Special — APY – Annual Percentage Yield is effective as of November 3, 2022. Offer only available for new customers or new funds not currently held with Farmers & Merchants State Bank. At maturity, this Certificate of Deposit will automatically renew as a 12 month Certificate of Deposit. Stated  APY assumes interest remains on deposit until CD maturity. A minimum $2,500 deposit is required to open this account and the maximum deposit to open this account is $125,000. Fees may reduce earnings. The advertised APY is subject to change without notice. Limited time offer.

    *26-Month CD Special — APY – Annual Percentage Yield is effective as of November 16, 2022. At maturity, this Certificate of Deposit will convert to a 24 month CD. Subject to penalty for early withdrawal. Stated APY assumes interest remains on deposit until CD maturity. A minimum $2,500 deposit is required to open this account and the maximum deposit to open this account is $125,000. Limit one (1) 26 Month CD Promo certificate per household. Fees may reduce earnings. The advertised APY is subject to change without notice. Limited time offer. 

Loyalty Rewards Checking

  • Tier
  • Tier 1
  • Tier 2
  • Tier 3
  • Basic Tier
  • Tier Qualifiers
  • eStatement and one qualifier is met in the monthly statement cycle
  • eStatement and two of the qualifiers are met in the monthly statement cycle
  • eStatement and three of the qualifiers are met in the monthly statement cycle
  • For balances above $25,000, if eStatement and one qualifier is met in the monthly statement cycle
  • Rate
  • 0.05%
  • 0.20%
  • 0.35%
  • 0.01%
  • APY
  • 0.05%
  • 0.20%
  • 0.35%
  • 0.01%
TierTier QualifiersRateAPY
Tier 1eStatement and one qualifier is met in the monthly statement cycle0.05% 0.05%
Tier 2eStatement and two of the qualifiers are met in the monthly statement cycle0.20% 0.20%
Tier 3eStatement and three of the qualifiers are met in the monthly statement cycle0.35%0.35%
Basic TierFor balances above $25,000, if eStatement and one qualifier is met in the monthly statement cycle0.01%0.01%
  • Disclaimers
  • With Loyalty Rewards Checking, you can earn the following:

    Tier 1 – If your daily balance is $25,000.00 or less, the account is enrolled in eStatements via Online Banking, and you have met a minimum of 1 qualifier, the interest rate paid on the entire balance will be 0.05% with an annual percentage yield of 0.05% .

    Tier 2 – If your daily balance is $25,000.00 or less, the account is enrolled in eStatements via Online Banking, and you have met a minimum of 2 qualifiers, the interest rate paid on the entire balance will be 0.20%  with an annual percentage yield of 0.20% .

    Tier 3 – If your daily balance is $25,000.00 or less, the account is enrolled in eStatements via Online Banking, and you have met a minimum of 3 qualifiers, the interest rate paid on the entire balance will be 0.35% with an annual percentage yield of 0.35%.

    Basic Tier – An interest rate of 0.01% will be paid only for that portion of your daily balance that is greater than $25,000.00. Depending on the balance in the account, the annual percentage yield for this tier will range from 0.01%, assuming a maximum account balance of $100,000.

    Annual Percentage Yields accurate as of 02/01/2021. Rates may change after the account is opened. To earn interest, you must be enrolled in eStatements and meet a minimum of one qualifier during the monthly statement cycle. Minimum to open a Loyalty Rewards Checking account is $50. There is no minimum balance requirement to earn interest or receive ATM Fee refunds. If enrolled in eStatements and a minimum of one (1) qualifier is met each monthly statement cycle, Nationwide ATM fees incurred during the monthly statement cycle will be reimbursed up to $10 and deposited to the account on the next business day after the qualifiers have been met each month. A Service Fee of $5.00 will be charged each monthly statement cycle unless the account is enrolled in eStatements and a minimum of one qualifier has been met.  Qualifying transactions must post and settle to the account during the monthly statement cycle. Transactions may take one or more business days from the transaction date to post and settle to an account. A Monthly Statement Cycle runs from the day after the last business day of the month to the last business day of the following month. Fees may reduce earnings. Personal accounts only. Limit one Loyalty Rewards account per household.

IRA Specials

  • Term
  • Perks IRA CD - 20 Month - Ohio & Michigan
  • Perks IRA CD - 20 Month - Indiana
  • Minimum Balance
  • $2,500
  • $2,500
  • APY
  • 0.24%
  • 0.24%
TermMinimum BalanceAPY
Perks IRA CD - 20 Month - Ohio & Michigan$2,5000.24%
Perks IRA CD - 20 Month - Indiana$2,5000.24%
  • Disclaimers
  • Substantial penalty for early withdrawal on these accounts.