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Midwest Bank of Western Illinois

Agribusiness Banking

 

Personal Savings Account

Designed for customers interested in saving for a rainy day.  You can earn a competitive rate of interest on this account and add to or withdraw from it whenever the need arises.

  • Rate Information: This account is an interest bearing account.  The interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on the account daily.  Interest begins to accrue on the business day you deposit noncash items (for example, checks).  Interest will be compounded quarterly and will be credited to the account quarterly.
  • Limitations: You must deposit $50.00 to open this account.  You may make six (6) transfers from your account each four (4) weeks or similar period. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
  • Account Fees: $2.00 monthly service charge if balance goes below $50.00 during a statement cycle.

 

ATM Savings

Designed for customers who want 24-hour ATM access to their savings account.

  • Rate Information: This account is an interest bearing account.  The interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on the account daily.  Interest begins to accrue on the business day you deposit noncash items (for example, checks).  Interest will be compounded quarterly and will be credited to the account quarterly.
  • Limitations: You must deposit $100.00 to open this account.  You may make six (6) transfers from your account each four (4) weeks or similar period.  Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
  • Account Fees: $2.00 fee if daily balance falls below $100.00 at any time during the statement cycle.

 

Relationship Savings

You can earn a competitive rate of interest on this account and add to or withdraw from it whenever the need arises.

  • Rate Information: This Account is an interest bearing account.  The interest rate and annual percentage yield may change.  At our discretion, we may change the interest rate on the account.   The interest rate is variable, based on the number of related types of accounts an individual customer has with the bank.  The base rate is .15%; the rate will increase for the first account of each of the related account types you have with us, as follows: any checking account, .25%; a loan, .25%; a certificate of deposit, .10%; Individual Retirement Account .15%, a MBWI SHAZAM Visa ChekCard, .15%; a MBWI Credit Card, .15%; a safe deposit box, .10%, with a maximum interest rate of .90%.  The interest rate and annual percentage yield will be adjusted within 3 business days of the date related accounts are added or closed. The interest rate will never be less than .15%.  Interest begins to accrue on the business day you deposit noncash items (for example, checks).  Interest will be compounded quarterly and will be credited to the account quarterly. 
  • Limitations: You must deposit $1,000.00 to open this account.  You may make six (6) transfers from your account each four (4) weeks or similar period, if by preauthorized or automatic transfer, or telephone (including data transmission agreement) order or instruction. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
  • Account Fees: No minimum balance fee when you maintain a $1,000.00 daily balance.  A $5.00 minimum balance fee will be imposed every four (4) weeks or similar period if the balance falls below $1,000.00 any day of the four (4) week or similar period.

 

Regular Business Savings Account

Earn a competitive rate of interest on this account and add to or withdraw from it whenever the need arises.

  • Earn interest on your account balance
  • Minimum balance requirement:  $200
  • Limitations:  You must deposit $200 to open this account.  You may make six (6) transfers from your account every four (4) weeks or similar period.  Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
  • Account Fees:  A minimum balance fee of $5.00 will be imposed every four (4) weeks or similar period if the balance falls below $200 any day of the four (4) week or similar period.

 

Capital Business Savings Account

Earn a competitive rate of interest on the Capital Business Savings account and add to, or withdraw from it whenever the need arises.

  • Earn premium deposit rates
  • Minimum balance requirement:  $5,000
  • Limitations:  You must deposit $5,000 to open this account.  You may make six (6) transfers from your account every four (4) week or similar period.  Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
  • Account Fees:  No monthly service charge for active accounts.  A minimum balance fee of $10 will be imposed every four (4) week or similar period if the balance in the account falls below $5,000 any day of the four (4) week or similar period.
   
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