Personal Savings

HSA Account

More than just a savings account—it’s a powerful tool that lets you save for medical costs, all while earning interest on your balance.

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Take control of your healthcare expenses.

Ideal for those who want a savings account with the added convenience of check writing, this investment product allows for tax-deductible** contributions to a Health Savings Account. It also offers the ease of check-writing and debit card access to pay for qualified medical expenses.

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Interest

Earns interest on the average daily balance, interest credited monthly

$50

Minimum balance to open this savings account

No Fees

No monthly maintenance fees for this savings account

Some more details about the HSA Account.
  • An HSA is portable in that you can maintain the deposit account even if you change employers or leave the work force.
  • Contributions may be made by any person (family member, employer, or other person) on behalf of the eligible account owner.
  • In accordance with IRS rules and regulations, additional catch-up contributions can be made for account owners who are at least 55 or older and not enrolled in Medicare

** Consult your tax advisor to discuss you tax situation

Which account is right for you?
Account
 
Interest
Minimum to Open
Monthly Service Charge
Regular Savings
More Details
Interest: N/A
Minimum to Open: $50
Monthly Fees: $8.00 (if your daily balance during the month falls below $100)
Student Savings
More Details
Interest: N/A
Minimum to Open: $50
Monthly Fees: $0 (Before the age of 18)
HSA Accounts
More Details
Interest: On the average daily balance
Minimum to Open: $50
Monthly Fees: $0
Money Market Account
Open Account
Interest: Tiered
Minimum to Open: $50
Monthly Fees: $0 (with a minimum daily balance of $1,500)
Certificates of Deposit
More Details
Interest: N/A
Minimum to Open: N/A
Monthly Fees: N/A
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Colony Bank offers a wide array of services to support you, from personal banking solutions to specialized lending options. Whatever your financial needs, we will help you every step of the way.