Savings Accounts

Shell Lake State Bank is locally owned and operated with a commitment to offering competitive rates and great service. Accounts are FDIC insured to the maximum allowed by law. There are several plans to help you meet your savings goals. Start earning interest on your money today, while saving for tomorrow. A Money Market Investment Account is a good choice that earns higher rates and maintains liquidity of your funds. Please select from the savings account options available below or contact us for more information. Personal Savings Account Options

• • Regular Savings
    • $25.00 minimum deposit to open.
    • $100.00 Minimum Average Daily Balance required. A monthly service charge of $2.00 will be imposed if the average daily balance falls below $100.00 during the month.
    • No minimum balance requirement for account holders under age 18.
    • ATM Card available.
    • Free online banking available.
    • Free mobile banking available.
    • Transfers or withdrawals are limited to a total of six (6) per month by means of, pre-authorized or automatic transfers, telephone, or by check draft, debit card or similar order payable to a third party.
    • Free e-statements available.
    • Interest paid quarterly.
    • Rates are posted in the Bank lobby
  • Money Market Investment Account
    • $2,500.00 minimum deposit to open.
    • $2,500.00 minimum average daily balance requirement to avoid a monthly service charge of $12.50.
    • Interest bearing (Rates are posted in the Bank lobby).
    • Transfers or withdrawals are limited to a total of six (6) per month by means of, pre-authorized or automatic transfers, telephone, or by check draft, debit card or similar order payable to a third party
    • ATM/Debit Card not available
    • Free online banking available
    • Free mobile banking available
    • Checks printed free of charge
    • Free e-statements available
  • Certificate of Deposit
    The Shell Lake State Bank offers Certificates of Deposit; which are FDIC insured to the maximum allowed by law. These are available in a variety of terms and interest rates ranging from 32 days up to 60 months in maturity.
    • Minimum deposit to open starts as low as $500
    • Periodic earnings notices are sent by mail or viewable through Online Banking
    • Customers have the option to receive their interest either by check, direct deposit into a Shell Lake State Bank Savings or Checking account or by letting the interest compound
    • A penalty may be imposed for early withdrawal
    • Free online banking available
    • Free mobile banking available
    • Rates are posted in the Bank lobby
  • Individual Retirement Accounts (IRA)
    • There may be tax advantages for you in opening an Individual Retirement Account. we offer a full range of IRA plans. Accounts are FDIC insured. Feel free to stop in and discuss in more detail what a Roth or Traditional IRA can do for you.
    • Traditional IRA’s – offer independence and an be opened and funded without any employer participation. Under this arrangement, contributions may be tax-deductible, but distributions are generally taxable.
    • Roth IRA’s – With Roth IRA;s, contributions are not tax deductible, but distributions and earnings generally can be withdrawn tax free
    • Rates are posted in the Bank lobby

    Each of the aforementioned accounts is subject to the bank’s standard rules and regulations governing each type of account. More detailed information regarding each type of account is available from the bank upon request. To review information on Electronic Fund Transfers, please review the Electronic Funds Transfer Disclosure (pdf) document.