Savings Choices
Mountain West Bank pays highly competitive interest rates on CDs and are insured to $100,000 by the FDIC. Call toll free for current interest rate quotes: 1-800-641-5401 or contact us through our website.
| Account Type | Minimum to Open | Monthly Service Charge | ||||
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$500 | A penalty may be assessed for early withdrawal. | ||||
Certificates of Deposit*
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$95,000 | A penalty may be assessed for early withdrawal. | ||||
| Jumbo Certificates of Deposit* If you have at least $95,000 to invest, Mountain West offers a Jumbo CD program. Rates are competitive with other money market alternatives and are adjusted on a daily basis. Minimum term is 30 days.
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$100 | A penalty may be assessed for early withdrawal. | ||||
| Individual Retirement Accounts* Mountain West's 12-60 month CDs are available for investment in your IRA. The Bank has no set up or annual fees for your IRAs. Your IRA funds may be invested in any Certificate of Deposit. It is only $100 to open an IRA CD. Additional information may be obtained by contacting a Mountain West Bank representative.
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$200 | If your minimum balance falls below $200, the quarterly fee is only $3.00. | ||||
| Planned Savings Account Mountain West's savings account earns you interest on every dollar. Statements are mailed to you quarterly.
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$100.00 and a set up fee of only $30. | The first five transactions each cycle are free. After that, each additional transaction is only .50. | ||||
| Health Savings Account Health Savings Accounts are designed to help individuals pay for current and future qualified medical expenses on a tax free basis. Contributions to Health Savings Accounts can be made by employers, individuals, or both. Contributions may also be made on behalf of an individual, such as a family member, as long as the individual meets the qualifications for a Health Savings Account.
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$25,000 | A penalty may be assessed for early withdrawal. | ||||
| FLEX Account* A money market account with the earnings power of a certificate of deposit, but the flexibility of a checking account! On balances of $25,000 or more, you earn higher interest. The rate is tiered, changed quarterly, and tied to the 3-month Treasury bill. With no maturity date, you may withdraw without penalty once every 30 days. Additional withdrawals each month are only $25 each, and may be done in person at any Mountain West Bank branch.
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$2,500 | None if balance is maintained at $2,500 or greater. If it falls below, only an $8 service charge is assessed. | ||||
| Silvermine Money Market Account Silvermine Money Market Account offers a higher rate of interest on a tiered basis, while giving you the flexibility of transferring from the account by preauthorized, automatic check or debit, telephone, or online transfer up to 6 times per statement cycle. Three checks may be written on the account each month (included in 6-withdrawal maximum). Minimum opening deposit only $2,500. To avoid an $8 service charge, balance must be maintained at $2,500 or greater. |
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| * Interest is computed by the daily interest method which applies a daily periodic rate to the principal in the account each day. It begins to accrue on the first business day after the banking day non-cash items are deposited. See a branch representative for additional terms, conditions, and current rates. Rates vary with the market conditions and may be changed at the discretion of the Bank at any time. Early withdrawal of certificate of deposit funds may result in a substantial penalty. Generally, Mountain West Bank's FLEX account and jumbo certificates of deposit are not available to institutional investors. |
| Mountain West Bank does not give advice to any person as to the qualifications regarding eligibility, contributions, or distributions. Please contact a financial or tax advisor for answers to questions you might have about your qualifications. |
| Fees could reduce earnings on accounts. |
| Interest rates may change on account after opening. |
