Savings Services

A deposit with Equitable Bank offers you growth and security. We’re here to help you begin saving for your future with variable investments that suit your lifestyle today and tomorrow. At Equitable, when you deposit, we return.  Want to open a savings account without coming to the bank*?  Apply online right here, right now!

Money Market Deposit Account

Enjoy growth, security and accessibility. Your money earns interest at a competitive rate.

  • $500.00 Opening Balance
  • Six transfers or withdrawals per month
  • Monthly statements with check images
  • Unlimited transfers for loans and associated expenses to Equitable, in-person transfers between accounts, or cash withdrawals

Health Savings Account

An HSA is an IRA-like account that is designed exclusively for covering medical expenses. HSAs can provide significant tax benefits to eligible individuals, they may also provide benefits similar to many tax-favored retirement plans.

  • Free check card
  • Low monthly fee based on account balance*

Read about additional benefits and eligibility for Health Savings Accounts

*No monthly fee if account balance exceeds $500

IRA Savings Account

Enjoy the benefits of an IRA with the flexibility of a savings account. While normal IRS distribution rules apply, with the variable rate IRA Savings Account, you’re not locked into a fixed rate and term like a Certificate of Deposit. Available in both Traditional and Roth IRAs, our Personal Bankers can help you decide which is right for you.

  • $50 minimum to open
  • No maintenance fees
  • Competitive rates

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Certificates of Deposit

Because you’re looking for the maximum return for your hard-earned dollar, we offer short or long-term CDs at very competitive rates. Let one of our experienced staff help you select the best investment.

  • $500.00 Opening Balance
  • Option to renew within ten calendar days after the maturity date
  • Choice of 3, 6, 12, 24, 36, 48, or 60 month terms, and specials on occasion

CDARS® (Certificate of Deposit Account Registry Service®)

Looking for a way to keep large deposits safe? Ask us about CDARS®. Through this program, you can access FDIC protection on multi-million dollar CD investments through Equitable Bank. There are few guarantees in life – FDIC insurance is one of them. CDARS can be a valuable cash management or longer-term investment tool for you.1

  • Simple – one-stop shopping
  • Safe – your money can access multi-million dollar FDIC insurance coverage
  • Convenient – you work directly with us. You earn one interest rate and receive one regular statement and one year-end tax form
  • Community Investment – The full value of your money can support lending opportunities within your local community2
  • CD-Level Rates – Your money earns CD-level returns which may compare favorably with other investment alternatives, including Treasuries, corporate sweep accounts, and money market funds.

How CDARS works


1 Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with Equitable Bank. The agreement contains important information and conditions regarding the placement of funds by us.
2 This benefit applies to some, but not all types of CDARS transactions. Let us know if this is important to you so we can explain the relevant terms and conditions in more detail.

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Insured Cash Sweeps® (ICS®)

ICS®, the Insured Cash Sweep® service, is a smart, secure, and convenient way for bank customers to access multi-million-dollar FDIC protection on large deposits, earn a return, and enjoy flexibility.

With ICS, you can:

  • Rest assured. Make even large deposits eligible for protection that’s backed by the full faith and credit of the federal government.
  • Earn interest. Put excess cash balances to work by placing funds into demand deposit accounts using the ICS demand option or into money market deposit accounts using the ICS savings option.
  • Save time. Work directly with just our bank – a bank you know and trust. Forego opening accounts under different insurable capacities or managing multiple bank relationships. Receive just one monthly statement from us summarizing your account activity and balances. And, if you are accustomed to collateralization, reduce the need to track collateral on an ongoing basis.
  • Access funds. Enjoy unlimited withdrawals using the ICS demand option, or make up to six program withdrawals per month using the ICS savings option. Your funds can be placed using either or both ICS options to best match your cash management and liquidity needs.

That’s smart.


Placement of your funds through the ICS service is subject to the terms, conditions, and disclosures set forth in the agreements you enter into with us, including the ICS Deposit Placement Agreement. Limits and customer eligibility criteria apply. Program withdrawals are limited to six per month when using the ICS savings option. Insured Cash Sweep and ICS are registered service marks of Promontory Interfinancial Network, LLC.

Individual Retirement Accounts

Because you’re looking for the maximum return for your hard-earned dollar, we offer IRA accounts at very competitive rates. In addition to the Traditional IRA, Equitable offers the Roth IRA and Education IRA. Let one of our experienced staff help you to select the best investment.

  • $50.00 Opening Deposit
  • No set-up or maintenance fees
  • Fixed rate and term IRAs are offered in 7 standard terms with specials on occasion

Learn more about which IRA is right for you.

Savings Accounts

A basic interest-bearing savings account

  • $50.00 Opening Deposit
  • No monthly service charge
  • Six transfers or withdrawals per month
  • Unlimited transfers for loans and associated expenses to Equitable, in-person transfers between accounts, or cash withdrawals

Christmas Club Savings

A simple way to save money for the holidays.

  • $50.00 Opening Deposit
  • No monthly service charge
  • Interest paid at maturity (October 15th, annually).
  • Account balance paid at maturity (October 15th, annually)

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*Online account opening is available for individual and joint checking and savings accounts for customers residing in the Equitable Bank service area.