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First National Bank of Cokato

First National Bank of Cokato

Savings

We are prohibited by law from paying interest on most business checking accounts; however, we do offer favorable rates to businesses on Savings* and Money Market* accounts. These accounts are designed for excess cash management a business may have from time-to-time. Stop by to open an account today! 

Regular Savings

  • Interest rate may vary.**
  • If the balance falls below $50 any day during the month, a service charge of $1.00 for the month will be assessed.
  • Choice of electronic or paper statement, provided quarterly. If an electronic transaction occurs during a month, the statement will generate monthly.

Money Market Savings

  • Interest rate may vary.
  • Interest is compounded and credited to the account quarterly.
  • No service charge if a balance of $2,500 is maintained.
  • If the balance falls below $2,500 any day during the month, a service charge of $5.00 for the month will be assessed, and the account may earn interest at a reduced rate.
  • Choice of electronic or paper statement, provided quarterly. If an electronic transaction occurs during a month, statement will generate monthly.

*Other terms and conditions apply. Contact us for further details.
**Interest is compounded and credited to the account quarterly.  Interest is not paid when balance falls below $50.