Grow Your Savings with a Simple, Secure Account
What is a Personal Savings Account?
A Personal Savings Account from West Plains Bank and Trust Company is an interest‑earning account designed to help you safely grow your money while maintaining access to your funds when you need them.
Wondering how to open a savings account that earns interest? Read on or visit any of our locations!
Why Open a Savings Account?
A savings account gives you a secure place to build your financial future.
- Earn competitive interest on your balance
- Keep funds safe and protected (FDIC insured)
- Save for short‑term and long‑term goals
- Separate everyday spending from long-term savings
Whether you’re saving for emergencies, a home, or future expenses, a savings account helps your money work for you.
Key Features of Personal Savings Accounts
Simple to Open and Manage
- $100 minimum opening deposit
- Earn interest immediately after opening
Low-Cost Banking
- $3 monthly fee if balance falls below $100
- No fee for customers under age 21
Flexible Access to Funds
- Six free withdrawals per month
- $3 fee for each additional withdrawal
Designed for Everyday Saving
A personal savings account is ideal for:
- Emergency funds
- Saving for large purchases
- Building financial habits
- Managing future expenses
Additional Savings Options
West Plains Bank and Trust also offers other savings account types:
Money Market Accounts
- Earn interest with more flexible access
- May include debit card or check-writing features
- Higher balance requirements apply
Health Savings Accounts (HSA)
- Tax-advantaged savings for medical expenses
- Requires a high-deductible health plan
- Contributions may be tax deductible
Holiday (Santa) Savings Accounts
- Designed for seasonal savings goals
- Helps prepare for holiday spending
Safe and Secure Savings
Your deposits are protected with FDIC insurance, giving you confidence that your money is safe while it grows.
How to Open a Savings Account
Getting started is simple:
- Open online or visit a branch
- Provide basic personal information
- Make your initial deposit
Start building your savings today.
Frequently Asked Questions
How much do I need to open a savings account?
You need a $100 minimum deposit to open a personal savings account.
Does a savings account earn interest?
Yes. Your balance earns a competitive interest rate, helping your money grow over time.
Is there a monthly fee?
A $3 monthly fee applies if your balance falls below $100, but fees may not apply in certain cases (such as accounts for customers under 21).
How many withdrawals can I make?
You receive six free withdrawals per month, with a small fee for additional transactions.
Is my money safe in a savings account?
Yes. Your funds are FDIC insured within applicable limits.