photoPersonal Savings Accounts

Statement Savings Account

  • Minimum amount to open account - $100
  • Quarterly maintenance fee with a minimum balance of:
    • $300 or more ..................$0.00
    • Below $300 .....................$4.00
  • Charge per withdrawal over 6 quarterly - $2.00
  • A $25.00 early closing fee will be deducted if the account is closed within 90 days of opening

Magnolia Savings Account

  • Minimum amount to open account - $2,500
  • Quarterly maintenance fee with a minimum balance of:
    • $2,500.00 or more ............$0.00
    • Below $2,500.00 ..............$15.00
  • Charge per withdrawal over 6 quarterly - $2.00
  • Interest rate equal to Magnolia State Bank’s Six Month Certificate of Deposit Rate
  • The following accounts are eligible for a Magnolia Savings Account: Individuals, Sole Proprietorships, and Non-Profit Organizations. Accounts not eligible for a Magnolia Savings Account: Corporations, Partnerships, Profit-Making Organizations and Governmental Units.
  • Only available in certain markets. Call your local MSB for details.

Youth Savings Account

Children under the age of 18 may open a passbook savings account with only $100.00 and incur no service charge. An excessive withdrawal fee of $2.00 per withdrawal will be imposed on accounts having over 6 withdrawals per quarter.

Christmas Club Account

This account allows you to automatically charge your checking account each month. (Minimum of $5.00 for your Christmas Club payment). When Christmas shopping season begins, we will mail you a check for the amount accumulated, plus your accrued interest. If you prefer a coupon book, instead of the automatic deduction plan, we will be pleased to supply one for $5.00. There is a $10.00 fee for Christmas Club accounts closed prior to the regular distribution of the checks.

Contact one of our customer service representatives today for information on how to apply for a Magnolia State Bank credit card.

1-855-BANKMAG