Savings accounts

When it comes to saving money, Northwestern Bank knows how to help and gives you the choice of many attractive savings plans. All your bank deposits are insured up to $250,000 by the FDIC.

Personal statement savings

  • $5.00 monthly maintenance fee if balance falls below $100 any day during a statement cycle 
  • No minimum balance requirements if you are 18 years of age or less
  • Six monthly withdrawals at no charge, $5.00 for each withdrawal over six per month*

 

PERSONAL money market gold

  • Tiered interest rate - earn competitive rates by maintaining a higher balance 
  • $8.00 monthly maintenance fee if balance falls below $10,000 any day during a statement cycle 
  • Six monthly withdrawals at no charge, $5.00 for each withdrawal over six per month* 

ATM Card Usage

A $1.00 charge will be assessed for transactions not completed on a Security 24 ATM. This will be listed on your statement as: Transaction Fee, Non-NWB ATM. This fee will be waived on Business Savings or Business Money Market Gold accounts.

MORE Info

*Depositors are limited to six transfers and withdrawals (per statement cycle) to another account or to a third party by means of pre-authorized, automatic, or telephonic transfer. This applies to all savings accounts. VISA debit and POS transactions are not permissible on the above listed accounts. We may at any time refuse to accept or limit additional deposits to the account. 

The average daily balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. 

 

Cds & iras

certificates of deposit

A Northwestern Bank Certificate of Deposit (CD) is a savings vehicle with a guaranteed interest rate. Choose short-term CDs of one month to one year. If you prefer, you can invest in a longer term CD up to five years.  See Current Rates for CD Specials. 

individual retirement accounts

A Individual Retirement Account (IRA) is a flexible investment plan which allows individuals to plan for retirement. An individual under the age of 70 for the entire tax year and who has earned income can establish an IRA. An IRA may be invested in a variety of investment vehicles such as Variable Rate IRA, Fixed Rate IRA, Self-Directed IRA, Qualified Annuity, or Fully Managed Individual Retirement Trust Account. Interest rates may vary by term and type of investment. 

features

Contributions to an IRA can be made in a lump sum or made in smaller increments. IRA deposits are insured up to $250,000 when invested in either the Variable or Fixed Rate IRAs. 

benefits

IRAs give you flexibility to set up an investment to meet individual needs. The deposits are safe, you choose the desired rate according to market outlook, and you have the opportunity to trade to a higher rate if the market improves.