Rewards Checking

Rewards Checking gives you the access, rewards and support you need from a checking account. In fact, calling it just a checking account is a serious understatement. Benefits include:

  • Free Online Banking and Free Mobile Banking
  • Cash back* on all Debit Card purchases
  • Our Purchase Rewards program for Online Banking customers

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Health Savings Account

Our Health Savings Account (HSA) is a simple way to make the most of your health care dollars. Our HSA is an interest-earning account offering a low $25 minimum opening deposit and no monthly maintenance fee. Benefits include:

  • No set-up fee
  • No minimum balance
  • Free standard HSA checks

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Certificate of Deposit Account

Our Certificate of Deposit accounts (CD) earn a higher interest rate than traditional deposit accouts. Funds are deposited into a CD with a set term and the funds are held in the account until the certificate's maturity date. Benefits include:

  • Worry free savings account with a higher interest rate than traditional deposit accounts
  • A variety of terms are available (ranging from 1 to 60 months) 
  • Interest rates are locked for the term of the certificate ensuring that the interest earned do not decrease even if that rates does

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Money Market Account

With our interest-earning and easy-access Money Market Account, you can save or store funds for longer-term purposes, at higher interest rates than standard savings or checking accounts.

  • Low $25 opening deposit
  • Low $25 average monthly balance requirement
  • FDIC insured
  • May be used to fund overdraft coverage

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Individual Retirement Accounts

It's not always easy to think about the future. At Merchants Bank, we offer a variety of IRAs – so you can choose the account that best meets your needs. Our IRAs include: 

  • Traditional IRA
  • Roth IRA 
  • SEP IRA
  • SIMPLE IRA 
  • Coverdell Education Savings Account 

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CDARS®

  • If you're looking to invest larger sums of money – with the protection of FDIC insurance – the Certificate of Deposit Account Registry Service (CDARS®) Network program may be just the tool you need. With CDARS, you can purchase more than $250,000 in CDs at Merchants Bank and still be eligible for FDIC coverage.

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