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The Murray Bank
little girl in wagon with two ladies

Savings

Everyone knows how important it is to save money. But it’s not always easy to do. The Murray Bank offers several savings account options to make saving and earning a breeze.
 

Statement Savings


When you’re just getting started saving, it makes sense to keep it simple. Our Statement Savings account is an easy way to start putting money aside, while still having fast access to your cash if you need it. Account features include:
 
  • No service charge on account with activity within 12 months
  • Interest paid quarterly
  • Six free withdrawals per month, $1 fee per additional withdrawals
  • $50 minimum to opening deposit
  • $3 foreign check cashing charge if balance falls below $100
 

E-Savings

If you’re looking for additional earnings and easy online access to your money, E-Savings is the account for you. Account features include:
 
  • Six free withdrawals per month, $1 fee per additional withdrawals
  • Funds can easily be transferred to other accounts via Online, Mobile, or Telephone Banking
  • E-Statements
  • $5 fee for each bank personnel assisted withdrawal
  • $50 minimum opening deposit
  • Interest paid monthly
  • Tiered interest rates with standard rate paid on $.01 - $9999.99, premium rate on $10,000 and over
 

Certificate of Deposit

If you want to earn even more interest and don’t need regular access to your money, a Certificate of Deposit (CD) is always a good option. Flexible terms and competitive rates allow you to get a CD to meet your exact needs. Account features include:
 
  • $500 minimum opening deposit
  • Flexible terms and competitive rates
 
To learn more about CDs at The Murray Bank or to open an account, stop by any branch or contact a customer service representative.
 
*Early withdrawal penalties are assessed. The amount of the penalty is based on the maturity date of the deposit.


IRA

Never underestimate the importance of saving for retirement. Individual Retirement Accounts (IRAs) offer individuals who don’t have access to an employer-sponsored account a tax-advantaged way to save for the future. IRAs are also commonly used when an employee leaves a company and withdraws funds from an employer-sponsored plan, also known as “rollover” accounts. The Murray Bank offers three types of IRAs:
 
  • Traditional - Pre-tax money is deposited up to allowable limits, interest earnings are tax-deferred, and you cannot make penalty-free withdrawals before age 59 1/2.
  • Roth - After-tax money is deposited up to allowable limits, interest earnings are tax-free, and you cannot make penalty-free withdrawals before age 59 1/2.
  • Education IRA - After-tax money is deposited up to allowable limits, interest earnings are tax-free, and penalty-free withdrawals can be made for qualifying education-related uses

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Health Savings Account (HSA)

These accounts are designed to give eligible individuals a tax-advantaged way to save for current and future medical expenses. Savings are exempt from Federal Income Tax, earnings are tax-deferred, and employer or employee contributions to the HSA are excluded from income (1). A High Deductible Health Plan is required to open a Health Savings Account. Minimum opening deposit of $50, and annual contribution limits are determined by IRS rules.*

* Annual Contribution limits apply per IRS
 
 

TMB Kids and Kash

Members of TMB Kids and Kash Club are encouraged to be smart savers, make good grades, and give back to the community. Learn More about Kids and Kash
 
 

Christmas Club

The Murray Bank Christmas Club is an easy way to save for the holidays. Just select an amount and it will be automatically transferred from your checking to Christmas Club account each month. You’ll earn interest on your savings and you’ll receive the balance of your account at the end of October, just in time for the holidays. No withdrawals are allowed.