Savings Accounts, CDs and Safe Deposit Boxes
Learning how to save your money effectively is a skill that pays off over and over throughout your life. At Northwest Bank, we offer savings accounts for people of any age, all with unique benefits and requirements. We also offer CDs that help your money grow faster, and safe deposit boxes to help you keep your valuables in a secure location.
Savings Account Options
Your savings needs are different from your neighbor’s, so why have a one-size-fits-all savings account that may not be offering you what you need? With Northwest Bank, you have options when choosing a savings account, including:
- MySaver Savings Account: All you need is $100 and a Northwest Bank MyRewards Checking Account to open this account. Your ATM fee refunds and interest earned from your MyRewards Checking Account are deposited directly into your MySaver account, and there is no minimum balance.
- Relationship Savings Account: Gain access to tiered interest rates that will help your money grow faster as you save more. Minimum deposit to open account is $1,000, then no minimum balance.
- Market Street Savings Account: Just $100 to open, interest for this account is paid on the daily collected balance. Simply maintain a $100 minimum balance to avoid a quarterly fee.
- School Street Savings Account: Help your children learn to save and grow their money. Available to anyone under the age of 18, this account is just $25 to open and you avoid quarterly fees by maintaining a $25 minimum balance. Interest is paid on daily collected balances.
- Preferred Money Market Account: For Customers looking to maintain a higher balance and invest securely, the Preferred Money Market Account offers tiered interest rates and requires $1,000 to open. When minimum balance falls below $1,000 in a month, a $10 fee applies.
Northwest Bank can help your money grow faster with a CD, also known as a Certificate of Deposit. CDs offer higher interest rates and limit your access to your money to help it grow faster. Our CDs are available in terms ranging from 30 days to five years in length. Benefits of CDs include:
- Competitive rates
- Interest premiums for larger balances
- A variety of interest payment options
- FDIC insurance
Safe Deposit Boxes
Make sure important documents and valuable possessions are in a secure place. Our safe deposit boxes are available in a variety of sizes and are offered at very competitive rates.
The contents in a Safe Deposit Box are not insured by the FDIC or Northwest Bank.
Find Your Savings Option Today
To learn more about the savings options available to you at Northwest Bank, please call us at 815-987-4550 or stop by one of our offices.