Start Saving Your Way
A savings account is the cornerstone of your finances, and you need an account that fits the way you want to save. At Iowa State Bank, you can choose from a wide range of savings options. We offer traditional savings accounts, accounts to help your child learn responsible saving habits, and money market accounts that allow you to take advantage of tiered interest rates. If you want help choosing the right account to match your savings strategy, please connect with the personal banking team at Iowa State Bank.
Health Savings Accounts
Now with HSA Debit Cards!
Healthcare expenses often come with no warning. For those times, it’s important to have money saved to cover your expenses and bridge the gap before the deductible on your health insurance kicks in. With a Health Savings Account (HSA) from Iowa State Bank, you’re prepared for healthcare expenses, whenever they come up. Our Health Savings Accounts now offer the convenience of a debit card for qualified medical expense purchases.HSA qualification criteria include:
- You must be covered by a high deductible health plan.
- You cannot also be covered by a health plan with a lower deductible.
- You cannot be enrolled in Medicare (or generally, older than age 65).
- You cannot be a dependent claimed by someone else.
Once you’re enrolled in an HSA, you can take advantage of the following benefits:
- Tax benefits may apply (please consult your tax advisor for more information).
- Balances roll over from year to year – no “use it or lose it” scenarios.
- Employers may also make contributions (check with your employer’s human resources personnel).
- Payments are made through checks provided or by your Health Savings Account debit card.
For 2023, eligible account holders can generally save as much as $3,850 for an individual and $7,750 for a family on an annual basis. Contributions for account holders aged 55 and older vary. For 2024, eligible account holders can generally save as much as $4,150 for an individual and $8,300 for a family on an annual basis.
Compare Iowa State Bank Savings Accounts
| Regular Savings | Select Savings | Money Market Select Savings | Kool Kat Kids Klub | Junior Savings | Christmas/Vacation Club | |
|---|---|---|---|---|---|---|
| Perfect for you if… | If you’re looking for a flexible savings account that’s easy to start with. | You’re ready to step up to a premium account with higher interest rates. | You want the ultimate in both interest rate earned and accessibility. | You have a child age 3-12 and you want to start a savings account for them that also teaches the value of saving. | You have kids up to age 23 who want to start saving money. | You want to save specifically for that dream vacation or the busy holiday season. |
| Benefits & Important Things to Know | Minimum balance of $100; If you drop below the minimum balance, a fee applies. | Minimum balance of $5,000; interest rates increase at $25,000 and $50,000; If you drop below the minimum balance, a fee applies. | Write three checks per month; the higher your balance, the higher your earned interest rate. Minimum balance requirement of $10,000; If you drop below the minimum balance, a fee applies. | A free gift just for signing up; keep track of balance on special savings cards; enjoy rewards for deposits; exclusive invitations to special events! | No service charge or minimum balance requirement until age 23; we’ll add $1.00 on your child’s birthday through age 12. | Make deposits weekly or monthly and earn interest until your vacation or the holidays; balance is transferred to another Iowa State Bank account. |
IntraFi Money Market Accounts+
ICS®, the IntraFi Cash ServiceSM, is a smart, convenient way for bank customers to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.
With the ICS service, you can:
- Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
- Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts, money market deposit accounts, or both.
- Save time. Work directly with just our bank—a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement from us summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.
- Access funds. Make unlimited withdrawals of funds placed into demand deposit accounts or up to six program withdrawals per month of funds placed into money market deposit accounts. Funds can be placed in one or both types of deposit accounts to best match your cash management and liquidity needs.
Deposit placement through CDARS or ICS is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through CDARS or ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. IntraFi and ICS are registered service marks, and the IntraFi hexagon and IntraFi logo are service marks, of IntraFi Network LLC.
Smart Banking – Benefits for Our Customers
Smart Banking is a service that rewards you with several benefits. All you need to do is have $15,000 in combined deposits with Iowa State Bank via a checking, savings or certificate of deposit account. Benefits include:
Earn interest on your checking account with no minimum balance requirement (if your average daily balance for the total deposit relationship falls below $15,000, a fee applies).
- FREE Iowa State Bank personalized checks or 20% discount on other check designs.
- FREE debit card.
- No fee for check images, OR we’ll keep your checks, if you prefer!
- Earn a bonus rate on NEW certificates of deposit and exclusive special rate CDs!
- Free stop payments.
- Free overdraft protection transfers from another ISB account.
- Trust and retirement planning services from ISB Trust Department.
*Some restrictions apply to avoid fees. See bank for details.
