Personal Savings Account Options
Find the right account for the way you save.
Compare our savings options by balance, opening deposit, and the way you prefer to save. All Minnesota First savings accounts earn interest, include quarterly statements, and have no monthly service fees. Deposits are FDIC insured up to applicable limits.
High Yield Savings
Grow larger balances faster with competitive, tiered interest rates.
- Open the account with a minimum deposit of $5,000
- Maintain a minimum daily balance of $5,000
- Earn higher interest rates as your balance grows
Regular Savings
Build savings steadily with a flexible account for everyday goals.
- Open the account with a minimum deposit of $200
- Maintain a minimum daily balance of $200.
- Earn the same competitive rate at every balance
Little Savers
Help young savers build strong habits with a kid-friendly account.
- Open the account with a minimum deposit of $20
- Maintain a minimum daily balance of $20
- Get a free piggy bank and toy with every deposit
Current Savings Rates
The MN First Savings Difference
A more personal way to save.
Everyone saves differently. Our local team takes the time to understand your goals and help you choose an account that fits where you are today.
Guidance built around you
Get personal help comparing your savings options.
Service from people who know you
Count on friendly, local support from a team that understands your needs.
Options for every stage
Accounts designed for first-time savers, everyday goals, or larger balances.
Open a Personal Savings Account
What you’ll need to get started.
Compare your options, gather the required information, and visit a Minnesota First branch to open your account.
Choose your account.
Compare High Yield, Regular, and Little Savers accounts to find the right fit.
Prepare to apply.
View the savings account checklist to see everything you’ll need to get started.
Visit us to get started.
Meet with our local team to discuss your financial goals and open your account.
Savings FAQs
How is interest calculated on my savings account?
Interest compounds and is credited to your account monthly based on your statement cycle.
Can I add a joint owner to my account?
Yes. If you would like to add a joint owner to your account, simply call us and a bank representative will assist you.
Will I still receive a statement for my savings account in the mail?
Yes. Our bank sends a quarterly statement on all savings accounts. You can also access your monthly statements online. If you do not receive your statement, please call a bank representative for assistance.
Can I order more deposit slips and envelopes?
Absolutely! Our bank always provides FREE deposit slips and prepaid envelopes for all deposit accounts.
Who should I contact if I have problems with my savings account?
We always want to give you the answers you need, when you need them. So if you ever have a question on your account, please feel free to contact a bank representative.
Truth in Savings Disclosure
Minimum balance to open the account
You must deposit and maintain a minimum balance on your account. This amount is dependent on the type of account.
Deposits & withdrawals
You can make additional deposits in any amount. The minimum withdrawal is $25.00. We have the right to require 60 days notice of a withdrawal. If you make a deposit by a check or other instrument like a check, you cannot withdrawal the amount of the check or instrument until we have collected it, or such earlier date as may be required by applicable law.
Variable rate feature
Your Interest Rate is variable and the Annual Percentage Yield may be changed at any time at our discretion.
Compounding and crediting frequency
Interest will be compounded monthly. This means that, for the purposes of computing interest, the interest that you have accrued is added to your balance monthly, and we compute interest from that date based on the new balance. Interest is credited to your account on the last day of each month.
Daily balance computation method
We use the Daily Balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits
Interest begins to accrue on the business day you deposit cash or non-cash items (for example, checks).
Personal Savings Guidance
Save with confidence.
Not sure which account fits your goals? Our local team can help you compare options and get started.