Below are a variety of savings accounts available. Many can be opened from the comfort of your home via online account opening. If you are an existing client at the Bank and wish to open an additional account, please do so via Online Banking. If you do not already have an account with the bank, use the links below to get started today. If you’re with another institution, switch your Accounts to Hickory Point Bank anytime from anywhere. It’s quick and easy with our Switch Kit. If you would like more information or wish to open an account in person, just stop by one of our convenient locations.
What Savings Account is Right for You?
Consumer Savings Account
Saving does not have to be complicated. With this simple account, you can save while still maintaining access to your funds. After all, it is your money. And you can rest assured that Hickory Point Bank will keep it safe as it grows. Start your nest egg today!
Highlights
- $200 minimum opening deposit
- $200 minimum balance to avoid $5 service fee
- Free Mobile banking, Paperless Statements, and Online Banking
- Earn competitive interest, which compounds quarterly
- Save while still maintaining access to your funds
- Pre-authorized withdrawals are limited to six per month $2 is assessed for each withdrawal over three in one month
Structured Savings
Build a structured savings plan based on your terms that’s designed to help you reach your goals. Simply choose the amount and term that suits you, and your money will be transferred directly from your HPB checking account every month. Ask us about this account and get started today!
Highlights
- $25 fee will be assessed for each withdrawal made before the maturity of the account
- $25 minimum opening deposit
- The minimum monthly transfer into the Structured Savings is based on the term
- Competitive fixed interest rate
- 1 year minimum term
- Free online banking, Mobile Banking and Paperless Statements
Minor Savings Account
Give your kids a financial head start with this account, designed just for youngsters under 18 years old. They will earn a competitive interest rate while learning the important value of saving, and you will have peace of mind, knowing they are building solid savings habits to last a lifetime.
Highlights
- $25 minimum opening deposit
- Pre-authorized withdrawals are limited to six per month
- Joint ownership with a minor and parent/guardian (Not looking for joint ownership? Call us and ask us about our Illinois Uniform Transfers to Minors Act (ILUTMA) savings. This account does not allow access to the minor.)
- Teach kids to save for the things they want until they can afford it
- Free online banking, mobile banking and paperless statements
- No monthly service fees.
- Earn competitive interest
- Teach kids to appreciate 'delayed gratification'
Certificate of Deposit
This risk-free investment combines security and strength with higher returns. Let our experienced team guide you to lock in a competitive fixed rate with the term that best fits your lifestyle and savings needs. We are invested in helping you reach your financial goals!
- A risk-free way to invest in your future
- Competitive, fixed interest rates
- Higher earnings than consumer savings
- Terms from 31 days to 5 years
- $1,000 minimum deposit to open
- Penalty may be imposed for early withdrawal
- FDIC insurance coverage up to the maximum amount permitted by law
Premium Money Market
These flexible, high yield accounts pay competitive interest rates without tying up your money. In fact, you have greater access with direct check-writing ability.
Highlights
- Access funds while earning even higher rates
- Free mobile banking
- Free online banking
- Free Paperless Statements
- Limited to six transfers, including no more than six third party checks
- FDIC insurance coverage up to the maximum amount permitted by law
- Minimum balance requirement of $20,000 to avoid a $25 monthly service fee
- $20,000 minimum opening deposit
Ultimate Money Market
These flexible, high yield accounts pay competitive interest rates without tying up your money. In fact, you have greater access with direct check-writing ability.
Highlights
- Access funds while earning competitive rates
- Free online banking
- Free Paperless Statements
- Free mobile banking
- $2,500 minimum opening deposit
- Minimum balance requirement of $2,500 to avoid a $10 monthly service fee
- Limited to six transfers, including no more than six third party checks
- FDIC insurance coverage up to the maximum amount permitted by law
Health Savings Account
Safeguard your family’s health with this federally approved, tax exempt account. It is designed to pay for medical expenses with a qualified high-deductible health care plan. Contributions may be tax deductible, and can be made by an individual or by an employer. Ask us for more information about this indispensable account.
- Make health care affordable for you and your family
- Pay for medical expenses easily via debit card
- No monthly service fee or annual account fee
- $50 Minimum Opening Deposit
- Interest earned grows tax-free
- Contributions may be tax deductible
- Withdrawals for qualified medical expenses are tax deductible
- Unused funds and interest are carried over, without limit, from year-to-year
- The funds can be transferred due to a plan change or retirement and are not forfeited for nonuse
- FDIC insurance coverage up to the maximum amount permitted by law
IRA Money Market
You work hard for your money. Invest it wisely with an IRA from HPB. Our IRAs allow you to save towards retirement, rewarding your efforts with competitive rates. Whether you’re looking to start or to transfer an IRA from another institution, our experienced staff can help.
Highlights
- FDIC insurance coverage up to the maximum amount permitted by law
- A $25 fee will be assessed for any premature withdrawal not redeposited into another Hickory Point Bank IRA account
- Free online banking
- Direct deposits accepted
- Make additional contributions at any time and in any amount
- Interest compounds monthly
- Earn a competitive, variable rate of interest
- No maturity date
- $100 minimum opening deposit and balance requirement
IRA Certificate of Deposit
You work hard for your money. Invest it wisely with an IRA from HPB. Our IRAs allow you to save towards retirement, rewarding your efforts with competitive rates on a variety of terms. Whether you’re looking to start or to transfer an IRA from another institution, our experienced staff can help.
Benefits
- $500 minimum opening deposit and balance requirement
- Terms from 12 months to 60 months
- Earn a competitive interest rate
- Interest compounds quarterly
- Penalty may be imposed for early withdrawal
- FDIC insurance coverage up to the maximum amount permitted by law
