Savings

Consumer Login

image_fpo

Personal Savings


Banterra offers a variety of savings accounts to meet your growing needs. Whether you are planning for your child’s education or your retirement, or simply reaching personal savings goals or having a safety net for what life may throw your way, we have a saving product to help you.


Preferred Savings

Saving for something in the future? All it takes to get started on your personal savings plan is $100.

  • $100 minimum to open ($2 monthly service charge if balance drops below minimum)
  • Interest - $100 minimum balance required
  • Transfers from a savings account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per month with no transfers by check, debit card, or similar order to third parties
  • A per-item service charge of $2 will be charged for each withdrawal in excess of four per month


Smart Kids Savings

A great account to get started on saving at an early age.

  • $10 minimum to open
  • No monthly service charge
  • Interest - Minimum balance required
  • Minimum balance to obtain Annual Percentage Yield on account is $10
  • A per-item service charge of $1 will be charged for each withdrawal in excess of three per month
  • Automatically changes to Banterra's Preferred Savings Account at age 22
  • Transfers from a savings account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per month with no transfers by check, debit card, or similar order to third parties


Money Market Accounts

Our Money Market Account is a great account for those individuals that want to earn a higher interest rate but must maintain the liquidity of their funds. Banterra offers two options for customers - Money Market Account or Preferred Money Market Account

Money Market Account

  • $2,500 minimum to open
  • Interest - $2,500 minimum balance required
  • Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle
  • $8.50 service charge fee each statement cycle unless a minimum daily balance of $1,500 or a minimum average daily balance of $2,500 is maintained

Preferred Money Market Account

  • $10,000 minimum to open
  • A Service Charge of $10 per statement cycle will be waived with $10,000 minimum daily balance in combination of identified Banterra’s Preferred Money Market, NOW, Savings, Money Market Deposit Account, Certificate of Deposit or Home Equity Line of Credit accounts.
  • Higher rate of Interest ($10,000 minimum balance required)
  • Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per statement cycle.


Health Savings Account

It’s easy to take our health for granted, but unexpected issues can occur that come with large, unplanned expenses. Even with health insurance plans, these plans typically come with high-deductible and out-of-pocket costs that can really add up. At Banterra, we offer a Health Savings Account (HSA) with great benefits and no annual fee that can help you prepare for future health needs.

A Health Savings Account is a savings account that you can contribute money into in order to save for future medical expenses.
Benefits of a HSA

  • Tax-Savings
  • Cost-Savings & Ownership
    • Reduce your insurance premiums by choosing a low-premium, high-deductible healthcare plan. Instead of giving money to a health insurer, put the premium difference in a HSA that you control and will add to your financial portfolio.
  • Control & Flexibility
    • Having an HSA account puts you in control whether it is determining how much money to put in the account, how much to save for future medical expenses or to pay for current medical expenses or which medical expenses to pay from this account.
  • Long-Term Savings
    • Funds in an HSA grow tax-free, including the interest, and withdrawals for eligible medical expenses are also tax-free.

Benefits of Banterra’s HSA

  • NO ANNUAL FEE - No annual fee; many other banks charge fees.
  • FREE DEBIT CARD(S) - Receive a Banterra Visa® HSA Debit Card at no charge to conveniently pay for your qualified medical expenses, as well as a second card for an authorized user of your choice.
  • CHECKS - You can also utilize checks for your HSA with no per-check fee; see representative for printing fee for check order.
  • FREE ONLINE BANKING AND BILL PAY - Pay your health expenses easily through Banterra’s Online Banking or Mobile App
  • FREE ATM - Use your Banterra Visa HSA Debit Card at no charge at Banterra ATMs located in Illinois, Indiana, Kentucky and Missouri.
  • TRANSFER FUNDS EASILY - Easily transfer funds into and out of your HSA.
  • FREE MOBILE BANKING - Banterra’s Mobile App makes it easy to check HSA balance, transfer funds and more.
  • EASY PAYMENT OPTIONS FOR EXPENSES:
    • Use your Banterra Visa HSA Debit Card.
    • Set up payees for free Online Bill Pay.

Requirements for a HSA

  • Must have coverage under an HSA-qualified, high-deductible health plan (HDHP).
  • Have no other first-dollar medical coverage (insurance such as specific injury insurance or accident, disability, dental care, vision care or long-term care insurance are permitted).
  • Cannot be enrolled in Medicare.
  • Cannot be claimed as a dependent on someone else's tax return.
  • $100 is minimum to open the account.
  • To generate interest, a balance minimum of $100 is required.

How to enroll

  • Enrollment is easy and won’t take long. Simply stop by your local Banterra Bank branch and a representative can assist you.

HSA Contributions

  • Maximum annual contribution is the contribution limit based on high-deductible health plan (HDHP) coverage as shown in the chart below:
    HSA Table

    * Subject to annual cost-of-living adjustments, if any.

  • Alcoholism Treatment
  • Ambulance
  • Birth Control Pills
  • Breast Reconstruction
  • Chiropractors
  • Contact Lenses
  • Dental Treatment
  • Dermatologist
  • Eyeglasses
  • Gynecologist
  • Hearing Aids
  • Home Care
  • Hospital Services
  • Laboratory Fees
  • Lodging (for out-patient treatment)
  • Long-Term Care
  • Meals (associated with receiving treatments)
  • Nursing Care
  • Pediatrician
  • Prenatal Care
  • Prescription Medicine
  • Psychiatric Care
  • Surgeon/Surgical Room Costs
  • Therapy
  • Vaccines
  • Wheelchair
  • X-Rays


CDs & IRAs

If you're striving to build a nest egg or save for a comfortable retirement, our CDs & IRAs are a smart choice.

Details


Compare our savings products or stop by one of our Locations and a Banterra representative can assist you with the right checking product for your financial needs.