Interest-bearing Checking Accounts

Browse our interest-bearing checking accounts to determine which one is right for you. Contact us to discuss these in more detail - we would love to help!
 
If you already know which account you want and are ready to get started? Click the link below to complete our application. After we receive your application, a customer service professional will contact you to complete the process. You will need to bring 2 forms of identification and personally visit one of our locations to finalize your account.


M&P Investment Checking 

  • Minimum opening deposit - $5,000
  • Unlimited deposits and check writing
  • Interest is paid at a tiered rate
  • Earns Interest* when terms are met
  • Must receive E-Statements. If statement is mailed a $5 monthly fee will apply.
  • Must maintain an average daily balance of $5,000 or more to avoid a $5 service charge each statement cycle.
  • If the above criteria is not met, interest will not be paid
  • Interest is compounded and paid monthly. If the account is closed before interest is paid, all accrued interest may be forfeited
  • Monthly statement with images
  • Free Visa Debit Card with E-Statements - Card Subject to Approval
  • Free 24-Hour account access through Online Banking or 24-Hour Banking Anytime line
  • FREE Online Bill Pay
  • Annual fee for Merchants & Planters Bank Credit Card will be waived if annual average ledger balance of $75,000 or more is maintained in this account.
  • Bounce Protection is not available
  • If account is closed within 90 days of opening, a $25 charge may apply before the account is closed

*Interest rate is variable and subject to change. Interest is computed by using the Average Daily Balance

E-Net Checking 

  • Minimum opening deposit - $100
  • Earns interest when terms are met:
  • Must receive E-Statements
  • Must have 12 or more Debit Card point of sale transactions post and clear per statement cycle (ATM transactions do not qualify)
  • Must have one Direct Deposit and/or one ACH Debit post and clear per statement cycle
  • If the above criteria is not met, interest will not be paid
  • Interest is compounded and paid monthly. If the account is closed before interest is paid, all accrued interest may be forfeited
  • $7.50 service charge applies every statement cycle if average balance falls below $1,000 during the statement cycle. Service charge WAIVED if receiving E-Statements or Direct Deposit
  • Free Visa Debit Card with E-Statements or Direct Deposit – $1.00 per card per statement cycle applies if no E-Statements or Direct Deposit - Card Subject to Approval
  • Unlimited deposits and check writing
  • Bounce protection available upon approval
  • Free 24-Hour account access through Online Banking or 24-Hour Banking Anytime line
  • FREE Online Bill Pay
  • $2.00 Postage and Handling fee applies if receiving paper statements. Postage and Handling fee WAIVED if receiving E-Statements.
  • If account is closed within 90 days of opening, a $25 charge may apply before the account is closed

* Interest rate is variable and subject to change. Higher rate paid on balances up to $25,000. Balances in excess of $25,000 paid Advantage Plus Checking rate. Interest is computed by using the Average Daily Balance.

Advantage Checking

  • Minimum opening deposit - $100
  • Interest paid at tiered rate
  • Interest is compounded and paid monthly. If the account is closed before interest is paid, all accrued interest may be forfeited
  • Free basic checks
  • $7.50 service charge applies every statement cycle if average daily balance falls below $500 during the statement cycle. Service charge WAIVED if receiving E-Statements or if overall deposit relationship is $25,000 or more
  • Visa Debit Card – $1.00 per card per statement. Fee WAIVED if receiving E-Statements or Direct Deposit. Card Subject to Approval.
  • Unlimited deposits and check writing
  • Bounce protection available upon approval
  • Free 24-Hour account access through Online Banking or 24-Hour Banking Anytime line
  • FREE Online Bill Pay
  • Monthly statement with images
  • $2.00 Postage and Handling fee applies if receiving paper statements. Postage and Handling fee WAIVED if receiving E-Statements or overall deposit relationship is $25,000 or more.
  • If account is closed within 90 days of opening, a $25.00 charge may apply before the account is closed

Advantage Plus

  • Minimum opening deposit - $100
  • Age 55 and over
  • Interest paid at tiered rate with Direct Deposit
  • Must receive a Direct Deposit in the account per statement cycle to receive interest at current interest rate. No interest paid if not receiving Direct Deposit
  • Interest is compounded and paid monthly. If the account is closed before interest is paid, all accrued interest may be forfeited
  • Free basic checks
  • $7.50 service charge applies every statement cycle if average daily balance falls below $500 during the statement cycle. Service charge WAIVED if receiving E-Statements or if overall deposit relationship is $10,000 or more
  • ATM/Visa Debit Card, subject to approval, at no charge.
  • Unlimited deposits and check writing
  • Bounce protection available upon approval
  • Free Cashiers Checks
  • Free 24-Hour account access through Online Banking or 24-Hour Banking Anytime line
  • FREE Online Bill Pay
  • Monthly statement with images
  • $2.00 Postage and Handling fee applies if receiving paper statements. Postage and Handling fee WAIVED if receiving E-Statements or overall deposit relationship is $10,000.00 or more
  • If account is closed within 90 days of opening, a $25.00 charge may apply before the account is closed

Insured Money Market

  • Minimum opening deposit - $2,500
  • Higher interest paid on balances over $2,500
  • Interest is compounded and paid monthly. You must maintain a minimum daily balance of $1.00 in the account each day to obtain the disclosed annual percentage yield. If the account is closed before interest is paid, all accrued interest may be forfeited
  • Unlimited deposits
  • 6 covered transactions allowed per statement cycle – each additional transaction $1.00*
  • Covered transactions/withdrawals include:
    Transfers or withdrawals made to another account of the same depositor at the same bank, if made by:
    - Preauthorized transfer
    - Automatic transfer
    - Telephone, including fax, or
    - M&P's Online or Mobile Banking services
    Transfers or withdrawals to a third party (or to an account of the customer at another bank), if made by:
    - Preauthorized transfer (ACH)
    - Automatic transfer
    - Telephone, including fax, or
    - M&P's Online or Mobile Banking services
    - Similar order made by the depositor and payable to third parties
    *Repeated violations of excessive covered transactions could result in the account being closed
  • Unlimited transfers can be made in person, by mail, or at any M&P ATM
  • Monthly statement with images
  • No service charge if balance remains above $2,500 ($10.00 charge per statement cycle if balance falls below $2,500 during the statement cycle). Service Charge WAIVED if receiving E-Statements or Direct Deposit or if overall deposit relationship is $25,000 or more
  • Free 24-Hour account access through Online Banking or 24-Hour Banking Anytime line
  • If account is closed within 90 days of opening, a $25.00 charge may apply before the account is closed


Overdraft Protection is available for E-Net, Advantage, and Advantage Plus accounts - Subject to Approval.

For more information regarding Overdraft Protection and our standard overdraft practices, please click here or contact any of our convenient locations.