Savings Accounts

Close up photo of a hand placing a quarter into a piggy bank.Compare Savings Accounts

Set your funds aside for later or put them to work today. No matter what your financial goals and needs are, we have an account to fit your lifestyle. Explore account features and benefits below, or visit any of our locations to speak with a local banking expert.

Seedling Accounts

A great option for young savers under the age of 18!

A Seedling Account is a great option for children up to 18 years of age, offering tiered interest rates so interest will grow along with the balance. Stop in one of our branches to open your Seedling Account today with a minimum deposit of just $1.00.

Statement Savings

Start saving with a minimum deposit of just $1.00.

A Statement Savings Account offers tiered interest rates so your interest will increase with your savings. A Statement Savings Account may be opened with a minimum deposit of just $1.00.

There is no charge for monthly statements with Online Banking.  Statements can be mailed for  $2.50 per month.

Certificates of Deposit

An excellent choice for long-term savings.

A Certificate of Deposit is a great choice when you can put funds aside for a set period of time. Timberland CDs earn competitive interest rates and are available in a range of deposit terms and minimums to open, some with an initial investment of $500.00.

IRA Plans and Options

Our Traditional, Roth and Simple IRA plans provide options for your future!

Traditional IRA

Under the age of 70½? A Traditional IRA may be the best fit for you! This plan allows those under age 70½ and earning income from personal service rendered can establish and contribute to a Traditional IRA.

Roth IRA

As long as you are eligible, you can contribute to a Roth IRA and simply invest after-tax dollars to let the earnings accumulate tax-deferred. Later, if you qualify, you can withdraw the money tax-free.

Simple IRA

A Simple IRA is an easy way for business owners to save for themselves and their employees.

SEP Plan

A great choice for small businesses!

Standing for Simplified Employee Pension, this plan is an excellent choice for small businesses. Available to most types of businesses, this plan is generally less expensive and easier to maintain.

Additional Savings Services

In addition to our Savings Accounts, IRAs and CDs, we also have savings services that allow you to:

  • Protect your valuables. Safe Deposit boxes are available to rent at most Timberland Bank locations. Sizing and pricing varies based on your needs, but the cost is a small price to pay for the peace of mind of knowing that your irreplaceable items are safe and secure.

  • Earn higher rates of interest. Money Market Accounts are available for those who are interested in setting funds aside in an account that earns a higher interest rate. This savings option allows you to make up to six withdrawals per month and the minimum deposit varies.

  • Plan ahead. Health Savings Accounts are tax-favored savings accounts created for the purpose of paying qualified medical expenses. With this savings option, you can deposit the funds that you would have paid for insurance premiums into your account for future medical expenses.