Deposit Accounts for Every Need
Sherburne State Bank offers many different types of deposit accounts. Let us help you open the accounts that work best for your personal needs.
Personal Checking
Our easy and flexible checking products are designed to meet your everyday financial needs.
Convenience Checking
- NO Minimum Balance Required ($100.00 initial deposit)
- Unlimited Check Writing Privileges
- FREE Internet Banking
- FREE Sherburne Telebank Access
- FREE Internet Bill Pay
- Check Safekeeping
- Debit / ATM Card Available at NO Initial Charge
- Images of Canceled Checks Returned in Statement for a $2.00 Monthly Charge
Executive Checking (Age 55 and above)
- NO Minimum Balance Required ($100.00 initial deposit)
- NO Monthly Service Charge
- FREE Box of Checks
- FREE Cashier’s Checks, Money Orders and Account Activity Print-Outs
- FREE Internet Banking
- FREE Sherburne Telebank Access
- Credit of $10.00 on One Safe Deposit Box
- FREE Internet Bill Pay
- Unlimited Check Writing Privileges
- Check Safekeeping
- Debit / ATM Card Available at NO Initial Charge
NOW Checking
- FREE Internet Banking
- FREE Sherburne Telebank Access
- FREE Internet Bill Pay
- Debit / ATM Card Available at NO Initial Charge
- Check Safekeeping
- $500.00 Deposit to Open the Account
- $500.00 Minimum Daily Balance Requirement – A monthly service charge of $10.00 will be collected if the balance falls below $500.00 any day of the cycle.
- Interest Bearing on the Daily Collected Balances at a Variable Rate, Compounded and Credited Monthly – The interest rate may change and is subject to change on a daily basis. Fees may affect earnings.
Money Market Advantage Account
- FREE Internet Banking
- FREE Sherburne Telebank Access
- FREE Internet Bill Pay
- Debit / ATM Card Available at NO Initial Charge
- Check Safekeeping
- $25,000.00 Deposit to Open the Account
- $25,000.00 Minimum Daily Balance Requirement – A monthly service charge of $25.00 will be collected if the balance falls below $25,000.00 any day of the cycle.
- Interest Bearing on the Daily Collected Balances at a Variable Rate, Compounded and Credited Monthly – The interest rate may change and is subject to change on a daily basis. Fees may affect earnings.
Note: Transfers from a Money Market Advantage account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per statement cycle.
Money Market Demand Account
- FREE Internet Banking
- FREE Sherburne Telebank Access
- FREE Internet Bill Pay
- Debit / ATM Card Available at NO Initial Charge
- Check Safekeeping
- $1,000.00 Deposit to Open the Account
- $1,000.00 Minimum Daily Balance Requirement – A monthly service charge of $10.00 will be collected if the balance falls below $1,000.00 any day of the cycle.
- Interest Bearing on the Daily Collected Balances at a Variable Rate, Compounded and Credited Monthly – The interest rate may change and is subject to change on a daily basis. Fees may affect earnings.
Savings Account
Easy and safe, compare the different savings accounts we have to offer, and open the one that’s best for you.
Classic Savings
- Initial Opening Deposit of $100.00
- NO Minimum Balance Required to Earn Interest
- Interest Bearing on the Daily Collected Balances at a Variable Rate, Compounded and Credited Quarterly – The interest rate may change and is subject to change on a daily basis. Fees may affect earnings.
- A Service Charge of $5.00 will be collected each statement cycle (monthly) if the balance falls below $100.00 any day of the cycle.
- A Service Charge of $0.25 will be collected for each withdrawal in excess of four during a monthly cycle.
Money Market Demand Account
- Initial opening deposit of $1,000
- FREE Internet Banking
- FREE Sherburne Telebank access
- FREE internet bill pay
- Debit / ATM card available at no initial charge
- Check safekeeping
- $1,000.00 minimum daily balance requirement – A monthly service charge of $10.00 will be collected if the balance falls below $1,000.00 any day of the cycle. Interest bearing on the daily collected balances at a variable rate, compounded and credited monthly. The interest rate may change and is subject to change on a daily basis. Fees may affect earnings.
Note: Transfers from a Money Market Demand account to another account or to third parties by preauthorized, automatic or telephone transfer are limited to six per statement cycle.
Money Market Advantage Account
- Initial opening deposit of $25,000
- FREE Internet Banking
- FREE Sherburne Telebank access
- FREE internet bill pay
- Debit / ATM card available at no initial charge
- Check safekeeping
- $25,000.00 minimum daily balance requirement. A monthly service charge of $25.00 will be collected if the balance falls below $25,000.00 any day of the cycle.
- Interest bearing on the daily collected balances at a variable rate, compounded and credited monthly. The interest rate may change and is subject to change on a daily basis. Fees may affect earnings.
CDs and IRAs
Certificates of Deposit and Individual Retirement Accounts are a great way to save for the future. CDs and IRAs offer the flexibility of various terms with competitive rates in a FDIC insured instrument. Your Sherburne State Bank CD will automatically renew for your convenience. To learn the most current rates and annual percentage yields on our CDs, contact us or visit a branch near you.
Competitive, guaranteed rates for term of deposit:
- $500 Minimum Deposit Required
- Interest Compounds Quarterly
- FDIC Insured
Terms available:
- 3 Months
- 6 Months
- 12 Months
- 24 Months
- 36 Month
Penalty may be imposed for early withdrawal. Rates are subject to change without notice.
IRA Savings Account
Initial opening deposit of $100
