Deposit Rates as of November 12, 2024

First Bank offers a variety of options that you can choose from that best fits your savings goal. Whether you are saving for a short-term or long-term goal, our Bankers are available to assist you in finding the right deposit solution.

 

Certificates of Deposit (CD)*

Certificates of Deposit (CDs) are a great alternative to traditional Savings Accounts. By investing your money for a fixed term you can earn higher yields while protecting your money from fluctuating interest rates.

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Term (Maturity)Minimum to open and obtain the APY disclosedInterest RateAnnual Percentage Yield (APY)**

91 Days

$2,500

 3.98%

4.05%

6 Months

$2,500

 3.20%

3.25%

12 Months

$2,500

 3.01%

3.05% 

18 Months

$2,500

2.96% 

3.00% 

 24 Months

$2,500

2.96% 

3.00%

 36 Months

$2,500

3.11% 

3.15% 

48 Months 

$2,500

3.15% 

3.20% 

60 Months 

$2,500

3.20% 

3.25% 

 

 

*Minimum deposit to open a Certificate of Deposit (CD) and obtain stated APY is $2,500.00. Annual Percentage Yield (APY) is accurate as of  11/12/2024. APY assumes interest remains on deposit until maturity. Early withdrawal penalty may be imposed for withdrawal of funds prior to maturity. Fees may reduce earnings. 

**Annual Percentage Yield assumes interest remains on deposit. Fees may reduce earnings. Rates are variable and subject to change at any time

For more complete information regarding any deposit product please ask a Banker.

Depositors should consider FDIC coverage when making account choices. For more information regarding deposit insurance, please ask a Banker or visit www.FDIC.gov   

 

Individual Retirement Accounts (IRA)***

Individual Retirement Accounts (IRAs) offer a number of tax advantages that allow individuals to save tax-free or tax-deferred to help meet their long-term investment goals. IRS regulations regarding IRA contribution limits as well as types of accounts are constantly changing. Consult a Tax Professional to determine how a First Bank IRA can be part of your financial plan.

Traditional IRA

Allows you to save money without paying taxes until you withdraw it from the account. The money you add to your IRA can lower your taxable income and grows tax-free while it remains in the account.

Roth IRA

A variation on the Traditional IRA, a Roth IRA provides different tax incentives to investors eligible to participate. Contributions are made with after-tax assets and withdrawals are usually tax-free.

Term (Maturity)Minimum to open and obtain the APY disclosedInterest RateAnnual Percentage Yield (APY)****

91 Days

$1,000

3.98%

 4.05%

6 Months

$1,000

  3.20%

3.25%

12 Months

$1,000

3.01%

3.05% 

18 Months

$1,000

2.96% 

3.00% 

 24 Months

$1,000

2.96% 

 3.00%

 36 Months

$1,000

3.11%  

3.15% 

48 Months 

$1,000

3.15% 

3.20% 

60 Months 

$1,000

3.20%

3.25% 

5 Year Variable*****

$1,000

3.20%

3.25%

 

***Minimum deposit to open an Individual Retirement Account (IRA) Certificate of Deposit and obtain stated APY is $1,000.00. Annual Percentage Yield (APY) is accurate as of 11/12/2024. APY assumes interest remains on deposit until maturity. Early withdrawal penalty may be imposed for withdrawal of funds prior to maturity. Fees may reduce earnings.

****Annual Percentage Yield assumes interest remains on deposit. Fees may reduce earnings. Rates are variable and subject to change at any time

*****Please see a Banker for details regarding account restrictions.

For more complete information regarding any deposit product please ask a Banker.

Depositors should consider FDIC coverage when making account choices. For more information regarding deposit insurance, please ask a Banker or visit www.FDIC.gov

 

Student e-Banking

 

Minimum to openMinimum to avoid monthly feeMinimum to earn Annual Percentage Yield (APY)Interest RateAnnual Percentage Yield (APY)*

$0

$0

>$0

0.15%

0.15% 

Click here for full account disclosure

Interest Plus Checking

 

Minimum to openMinimum to avoid monthly feeMinimum to earn Annual Percentage Yield (APY)Interest RateAnnual Percentage Yield (APY)*

$100

$1,000

Less than $50,000

$50,000 and above

0.355%

0.40%

0.35%

0.40%

Click here for full account disclosure

Interest Checking

 

Minimum to openMinimum to avoid monthly feeMinimum to earn Annual Percentage Yield (APY)Interest RateAnnual Percentage Yield (APY)*

$100

$0

>$0

0.10%

0.10%

Click here for full account disclosure

IRA Savings 

 

Minimum to openMinimum to avoid monthly feeMinimum to earn Annual Percentage Yield (APY)Interest RateAnnual Percentage Yield (APY)*

$100

$0

>$0

0.20%

0.20%

Click here for full account disclosure

Health Savings 

 

Minimum to openMinimum to avoid monthly feeMinimum to earn Annual Percentage Yield (APY)Interest RateAnnual Percentage Yield (APY)*

$100

$0

>$0

0.40%

0.40%

Click here for full account disclosure

My First Account 

 

Minimum to openMinimum to avoid monthly feeMinimum to earn Annual Percentage Yield (APY)Interest RateAnnual Percentage Yield (APY)*

$25

$0

>$0

0.20%

0.20%

Click here for full account disclosure

Personal Money Market

 

Minimum to openMinimum to avoid monthly feeMinimum to earn Annual Percentage Yield (APY)Interest RateAnnual Percentage Yield (APY)*

$1,000

$2,500

Less than $25,000

$25,000 and above

3.35%

3.35%

3.40%

3.40%

Click here for full account disclosure

Free Savings/IDA Savings

 

Minimum to openMinimum to avoid monthly feeMinimum to earn Annual Percentage Yield (APY)Interest RateAnnual Percentage Yield (APY)*

$100

$0

>$0

0.35%

0.35%

Click here for full account disclosure

Prime Savings

 

Minimum to openMinimum to avoid monthly feeMinimum to earn Annual Percentage Yield (APY)Interest RateAnnual Percentage Yield (APY)*

$5,000

$5,000

Less than $25,000

$25,000 and above

0.30%

1.14%

0.30%

1.15%

Click here for full account disclosure

Disclosures

IRA Savings

The interest rate and annual percentage yield (APY) are variable and subject to change at our discretion. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited to your account monthly. You must deposit $100.00 to open this account. You must maintain a minimum daily balance of $0.01 or greater in the account each day in order to earn interest. If you close your account before interest is credited, you will not receive the accrued interest. Fees may reduce earnings. You may not make any transfers from this account to another account of yours or to third parties by preauthorized, automatic, online banking, or telephone transfer or similar order to third parties. We ask Clients to consult with their tax advisors regarding this account. 

Depositors should consider FDIC coverage when making account choices. For more information regarding deposit insurance, please ask a Banker or visit www.FDIC.gov 

 

Health Savings

The interest rate and annual percentage yield (APY) are variable and subject to change at our discretion. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited to your account monthly. You must deposit $100.00 to open this account. You must maintain a minimum daily balance of $0.01 or greater in the account each day in order to earn interest. If you close your account before interest is credited, you will not receive the accrued interest. Fees may reduce earnings. We are not responsible for ensuring your eligibility for making contributions or ensuring withdrawals are used for payment or reimbursement of qualified medical expenses. We recommend consulting a legal or tax professional if you have any questions about managing your account. 

Depositors should consider FDIC coverage when making account choices. For more information regarding deposit insurance, please ask a Banker or visit www.FDIC.gov 

 

My First Account

New Money Only. The “My First Account” is designed for Children through the age of 17. This account is established by an adult on behalf of a minor as a custodial account under the Illinois Uniform Transfers to Minors Act . The “My First Account” requires a minimum deposit of $25.00 to open the account. The “My First Account” is interest bearing with an Annual Percentage Yield (APY) is subject to change at the bank’s discretion and is earned on all balances greater than $0.01. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited to your account monthly. If you close your account before interest is credited, you will not receive the accrued interest. Fees may reduce earnings. 

Depositors should consider FDIC coverage when making account choices. For more information regarding deposit insurance, please ask a Banker or visit www.FDIC.gov 

 

Personal Money Market

The Personal Money Market Account is Interest bearing account Annual Percentage Yield (APY) that is subject to change at the bank’s discretion. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited to your account monthly. You must deposit $1,000.00 to open this account. Minimum Balance to Earn Interest. You must maintain a minimum daily balance of $ .01 or greater in the account each day in order to earn interest. The interest rates paid are based on tiered account balances as follows: $0.01-$24,999.99 & $25,000.00 and above. This means that one or more interest rates and Annual Percentage Yields may apply to your account. When your daily balance is within a specified tier range, the interest rate and corresponding Annual Percentage Yield will be earned on the entire balance in your account. A service charge fee of $15.00 will be imposed every monthly statement cycle if the balance in the account falls below $ 2,500.00 any day of the cycle. If you close your account before interest is credited, you will not receive the accrued interest. Fees may reduce earnings. The minimum amount you can withdrawor transfer is $500. 

Depositors should consider FDIC coverage when making account choices. For more information regarding deposit insurance, please ask a Banker or visit www.FDIC.gov 

 

Free Savings/IDA Savings

The interest rate and annual percentage yield (APY) are variable and subject to change at our discretion. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited to your account monthly. You must deposit $100.00 to open this account. You must maintain a minimum daily balance of
$0.01 or greater in the account each day in order to earn interest. If you close your account before interest is credited, you will not receive the accrued interest. Fees may reduce earnings. 

Depositors should consider FDIC coverage when making account choices. For more information regarding deposit insurance, please ask a Banker or visit www.FDIC.gov 

 

Prime Savings

The interest rate and annual percentage yield (APY) are variable and subject to change at our discretion. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited to your account monthly. You must deposit $5,000.00 to open this account. You must maintain a minimum daily balance of $ .01 or greater in the account each day in order to earn interest. The interest rates paid are based on tiered account balances as follows: $0.01-$24,999.99.& $25,000.00 and above. This means that one or more interest rates and Annual Percentage Yields may apply to your account. When your daily balance is within a specified tier range, the interest rate and corresponding Annual Percentage Yield will be earned on the entire balance in your account. Minimum Balance to Avoid Imposition of a Fee. A service charge fee of $15.00 fee will be imposed every monthly statement cycle if the balance in the account falls below $ 5,000.00 any day of the cycle. If you close your account before interest is credited, you will not receive the accrued interest. Fees may reduce earnings. The minimum amount you can withdraw, or transfer is $500. 

Depositors should consider FDIC coverage when making account choices. For more information regarding deposit insurance, please ask a Banker or visit www.FDIC.gov 

 

Student E Banking

The Student E- Banking account is an interest bearing account that is free of monthly fees and is only available to individuals 13 to 26 years of age. Individuals under the age of 18 require a parental/ guardian cosigner. The interest rate and annual percentage yield (APY) are variable and subject to change at our discretion. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited to your account monthly. You must maintain a minimum daily balance of $ .01 or greater in the account each day in order to earn interest. If you close your account before interest is credited, you will not receive the accrued interest. Fees may reduce earnings. ATM surcharge fees charged by other Banks inside the continental U.S. will be reimbursed up to a limit of $25.00 per statement cycle. International fees related to ATM transactions conducted overseas are not reimbursable. 

Depositors should consider FDIC coverage when making account choices. For more information regarding deposit insurance, please ask a Banker or visit www.FDIC.gov 

 

Interest Plus Checking

The interest rate and annual percentage yield (APY) are variable and subject to change at our discretion. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited to your account monthly. You must deposit $100.00 to open this account. You must maintain a minimum daily balance of $ .01 or greater in the account each day in order to earn interest. The interest rates paid are based on tiered account balances as follows: $0.01-$49,999.99 & $50,000.00 and above. This means that one or more interest rates and Annual Percentage Yields may apply to your account. When your daily balance is within a specified tier range, the interest rate and corresponding Annual Percentage Yield will be earned on the entire balance in your account. Minimum Balance to Avoid Imposition of a Fee. A service charge fee of $10.00 fee will be imposed every monthly statement cycle if the balance in the account falls below $1,000.00 any day of the cycle. If you close your account before interest is credited, you will not receive the accrued interest. Fees may reduce earnings.

Depositors should consider FDIC coverage when making account choices. For more information regarding deposit insurance, please ask a Banker or visit www.FDIC.gov 

 

Interest Checking

The interest rate and annual percentage yield (APY) are variable and subject to change at our discretion. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest will be compounded and credited to your account monthly. You must deposit $100.00 to open this account. You must maintain a minimum daily balance of
$0.01 or greater in the account each day in order to earn interest. If you close your account before interest is credited, you will not receive the accrued interest. Fees may reduce earnings.  

Depositors should consider FDIC coverage when making account choices. For more information regarding deposit insurance, please ask a Banker or visit www.FDIC.gov 

More Information

Please contact a Banker for a complete disclosure of the terms and conditions and interest rate information if applicable.

 

 

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