At Utah Independent Bank, we know the importance of saving for the future. Whether you are saving for your first car, your college education, or retirement, we have a savings account just for you. You also will have peace of mind knowing that your money is FDIC* insured. Go ahead and pick the account that is right for you and begin to prepare for your future endeavors.
This account is for a new saver or for anyone who has a goal in mind but wants easy access to their funds.
Savings Account
- $25 minimum deposit to open account
- Tiered interest rates that increase based on the balance of the account
- Interest compounded and paid quarterly
- $25 minimum balance in the account is required. A minimum balance fee of $1.00 will be imposed on every statement cycle if the daily balance on any day of the statement cycle falls below $25.00
- A dormant account fee of $1.00 per month will be charged after 12 months of inactivity.
- Up to five withdrawals per quarter at no charge. A $1 dollar fee applies to each additional withdrawal. Transfers and withdrawals made in person are unlimited.
- In order to avoid a $2.00 paper statement fee, you must sign up to receive eStatements for this account.
- Fees may reduce earnings
Balance Tier | %APY* Rate |
|---|---|
Below $5,000.00 | APY available upon request |
| Equal to or greater than $5,000.00 but less than $100,000,000,000.00 | APY available upon request |
Certificates of Deposit (CD’s) allow you to save for a specific amount of time and earn a higher rate of return. CD’s are best for those of you who have long term savings goals and enjoy a higher rate of return. Utah Independent Bank offers CD’s from 90 days to 5 years at very competitive rates.
90 days, 6 months, 1 year, 18 months, 24 months, 30 months, 36 months, and 5 years
Certificates of Deposit
- $500 minimum deposit to open account and maintain APY*
- Interest compounded and paid quarterly or at maturity
- Early Withdrawal penalty may apply
- APY* assumes interest remains on deposit until maturity. A withdrawal of interest will reduce earnings.
- Fees may reduce earnings on the account
Individual Retirement Accounts (IRA’s) are a great way for you to save for the future while receiving the tax benefits of today. Utah Independent Bank offers 18 month and 2 ½ year IRA’s.
IRA's
- $500 minimum deposit to open account and obtain APY*
- Interest compounded and paid quarterly
- Contributions may be allowed during the term of the IRA CD
- IRA contributions are subject to IRS eligibility and contribution limits
- Early Withdrawal penalty may apply
- Fees may reduce earnings on the account
This account is for you if you want a higher rate of return but can still have easy access to your funds.
IMMA
- $600 minimum deposit to open account
- Tiered interest rates compounded and paid monthly
- Total of 5 preauthorized transfers per month. Additional transactions fees may apply. Transfers and withdrawals made in person are unlimited.
- Fees may reduce earnings on the account
Balance Tier | %APY* Rate |
|---|---|
Below $20,000.00 | APY available upon request |
Equal to or greater than $20,000.00 but less than $50,000.00 | APY available upon request |
| Equal to or greater than $50,000.00 but less than $100,000.00 | APY available upon request |
| Equal to or greater than $100,000.00 but less than $200,000.00 | APY available upon request |
| Equal to or greater than $200,000.00 but less than $350,000.00 | APY available upon request |
| Equal to or greater than $350,000.00 but less than $100,000,000,000.00 | APY available upon request |
*APY= Annual Percentage Yield. Rates are subject to change without notice. Fees may reduce earnings.
For a complete disclosure of all current rates, fees, terms and conditions, please contact Utah Independent Bank.
*Each depositor insured to $250,000
