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Farmers Savings Bank
Stethoscope and gold coins

Health Savings Accounts

A health savings account (HSA) is a tax-advantaged medical savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan (HDHP) The funds contributed to an account are not subject to federal income tax at the time of deposit. Unlike a flexible spending account (FSA), funds roll over and accumulate year to year if not spent. HSAs are owned by the individual. HSA funds may currently be used to pay for qualified medical expenses at any time without federal tax liability or penalty. For more information on Health Savings Accounts go to www.ustreas.gov.

Free Checks

Minimum Opening Balance:

You must deposit $25.00 to open this account.


A fee of 2.50 will be charged on a monthly basis.

Non-sufficient funds:

No overdrafts will be paid on this account.

Internet Banking

You are allowed to make transfers into this account via Internet Banking. Transfers out of this account via Internet Banking are not allowed.

Rate Information:

Your interest rate and annual percentage yield may change.

Frequency of rate changes:

We may change the interest rate on your account at any time.

Determination of rate:

At our discretion, we may change the interest rate on your account.

Compounding and crediting frequency:

Interest will be compounded every day and credited to your account every month.

Daily balance computation method:

We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Accrual of interest on noncash deposits:

Interest begins to accrue on the business day you deposit noncash items (for example, checks).