Savings
Earn a competitive interest rate with a low minimum balance of $100.
Benefits:
- No monthly minimum balance charge*
- Earns interest
- Free ATM Card
- Free Online Banking
- Six pre-authorized, withdrawals or transfers allowed per statement month
*As long as minimum balance is maintained
Open a Savings Account
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CDs
Save money for a set period of time and earn the highest interest rates available today
Benefits:
- Terms starting at 28 Days
- Short-Term Certificates (less than 1 year): Low minimum balance of $2,500
- Long-Term Certificates (1 year and over): Low minimum balance of $500
- All Certificates: Higher rates paid on balances of $25,000 or more
- Free Online Banking
Contact Us to Open a CD
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Individual Retirement Accounts (IRA)
An Individual Retirement Account offers tax advantages that will help you save for retirement. The benefits of an IRA include potential tax-deferred earnings or tax-free growth. The Equitable Bank offers Traditional, Roth, SEP, SIMPLE and Educational IRAs
- All of Equitable’s Certificates of Deposits can be opened as an IRA
Contact Us to Open an IRA |
Money Markets
When you need easy access to your money, but still want to earn a great interest rate, a money market account is the way to go. The Equitable Bank has two money market accounts perfect for a variety of financial needs
Compare Money Market Options
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Equitable Money Market
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Relationship Money Market
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Description
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This account is for you if you plan on keeping at least $2,500 in your account, and a higher interest rate is important.
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This account is for you if you like the flexibility of no minimum balance, but want to earn a higher interest rate on larger balances.
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Minimum Balance
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Low minimum balance of $2,500
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No minimum balance
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Minimum Balance Charge
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No monthly service charge when minimum balance is maintained
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No monthly service charge
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Interest Bearing
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Earns interest on all balances
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Earns interest on balances as low as $2,500. Tiered rates pay higher interest on your entire balance as it grows
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Shared Benefits
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- Free Debit or ATM Card Available
- Free Online Banking
- Free Online Statements
- Six pre-authorized, withdrawals, checks or transfers allowed per statement month
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- Free Debit or ATM Card Available
- Free Online Banking
- Free Online Statements
- Six pre-authorized, withdrawals, checks or transfers allowed per statement month
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Contact Us to Open an Equitable Money MarketOpen a Relationship Money Market Account
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Health Savings Account (HSA)
Health Savings Account FAQs
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What is an HSA?
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A Health Savings Account or HSA is a tax-exempt personal savings account that you set up with The Equitable Bank to pay or reimburse certain medical expenses you incur. To qualify, you will need to have a high deductible health plan.
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How does an HSA work?
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HSAs work similar to an Individual Retirement Account (IRA), except that deposits and qualified withdrawals are tax-exempt.
- Individuals and their employers may deposit money into the HSA, up to the annual dollar limit, along with extra catch-up contributions allowed for those aged 55 to 65.
- Account balances can be used to pay for a wide array of medical expenses, including some that are not ordinarily covered by insurance.
- HSAs can also be used to cover family members not covered by a high deductible health plan.
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Tax Deductions
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An HSA’s deposits may be deductible from taxable income even if you do not itemize deductions on your tax return. Self-employed individuals may also be able to deduct the insurance premiums. Talk to your tax advisor to find out what you can deduct.
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Why consider a Health Savings Account?
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- Protection: Covers you and your family in case of high or unanticipated medical expenses.
- Savings: Tax advantages and a tiered rate of interest earned provide an opportunity to save for the future.
- Flexibility: Schedule regular contributions or make your own contribution at any time during the year, until April 15th of the following year.
- Mobility: You own the account so it goes with you, even if you change jobs or retire.
- Choice: You pick the physician or health care professional.
- Control: You decide how to spend your health savings account dollars.
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What can your HSA be used for?
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- Medical Care and Services
- Dental and Vision
- Prescriptions
- Over the Counter Medications
- Chiropractic Visits
- Acupuncture
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Additional Benefits
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- Free ATM Card
- Free Online Banking
- Free Online Statements
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