Skip Navigation

Documents in Portable Document Format (PDF) require Adobe Acrobat Reader 5.0 or higher to view. Download Adobe© Acrobat Reader.

Whether starting small or large, Merchants and Planters Bank encourages you to save responsibly. Browse our savings accounts below to help determine which type of savings account is right for YOU!


Regular Savings

  • Minimum opening deposit - $100
  • Interest compounded and paid quarterly
  • If account is closed before interest is paid, any accrued interest may be forfeited.
  • Unlimited deposits
  • Quarterly statements
  • $2.00 per quarter service charge if balance falls below $200 on any day during the quarter. Fee WAIVED if receiving E-Statements.
  • Two withdrawals allowed per calendar month - each additional withdrawal $1.00 each
  • ATM Card (for use at an ATM only) - $1.00 per card per statement cycle. Fee WAIVED if receiving E-Statements or Direct Deposit.
  • Free 24-Hour account access through Online Banking or 24-Hour Banking Anytime line
  • If Regular Savings account is closed within 90 days of opening, a $25 fee may apply before the account is closed.

A little here and a little there goes a long way later. Try our savings calculator to see what a big difference a little makes. 


Young Planters Savings

  • No minimum opening deposit
  • Interest compounded and paid quarterly
  • If account is closed before interest is paid, any accrued interest may be forfeited.
  • Unlimited deposits
  • Quarterly statements
  • No service charge
  • Must be 16 years of age or younger - account will be converted to a Regular Savings at age 17
  • Two withdrawals allowed per month - each additional withdrawal $1.00 each
  • ATM Card (for use at an ATM only) - $1.00 per card per statement cycle. Fee WAIVED if receiving E-Statements or Direct Deposit.Free 24-Hour account access through Online Banking or 24-Hour Banking Anytime line

A college education is priceless, but you should start saving now! Check out our college savings calculator to help make your plans.


Christmas Club

  • Minimum opening deposit - $5
  • Must have an active checking account to open Christmas Club
  • Higher interest paid with automatic transfer deposit from checking account
  • Interest compounded and paid annually in November
  • Account balance and earned interest deposited into customers' checking or savings accounts each November
  • If account is closed before interest is paid, any accrued interest may be forfeited.
  • Maximum deposit is $500 per week
  • If three withdrawals or more are made from a Christmas Club account before maturity in November, the account may be closed and no interest paid.
  • Free 24-Hour account access through Online Banking or 24-Hour Banking Anytime line
  • If Club account is closed within 90 days of opening, a $25 fee may apply before the account is closed.


Health Savings Accounts

  • Accounts available – ask for details

    Important Information Regarding Savings Accounts

    Savings accounts are limited transaction accounts. According to banking regulations, a depositor may make no more than six (6) covered transactions/withdrawals per calendar month.* 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 or converted to an interest bearing checking account.