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Savings Accounts

Whether you want to start saving for your future or have a specific goal in mind, Dearborn Federal Savings Bank offers two types of savings accounts designed to meet the customer’s needs. From our traditional Passbook Savings account to the advantageous Statement Savings, both accounts are tailored to provide maximum convenience, security, accessibility and return.  And when you take advantage of our convenient features and other account services, there's simply no better place to bank than Dearborn Federal Savings Bank. So call or stop in today and speak with any of our courteous, knowledgeable representatives to find out which product is right for you and experience “Excellence in Community Banking”.

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Passbook Savings

Some things never change. Dearborn Federal Savings Bank has always offered passbook savings Accounts. We are proud to continue offering this popular product.

  • $25.00 minimum opening deposit   
  • Maintain a $200.00 minimum daily balance to earn interest and avoid fees
  • A flat $5.00 quarterly service fee if the average daily balance is not attained. Service charged waived for minors under age 18 and customers age 60 and over
  • EFT Activity (ATM or ACH transactions) not permitted on this type of account     
  • Interest compounded and paid to the account quarterly.

It’s the perfect gift for anyone, anytime!

Statement Savings

Dearborn Federal Savings Bank is excited to offer this type of savings product to our customers. While this account has all the advantages of our traditional Passbook savings product, EFT activity (ATM and ACH transactions) is permitted on this type of account. This account type receives account statements either monthly or quarterly based upon the level of account activity.

  • $25.00 minimum opening deposit  
  • Maintain a $200.00 minimum daily balance to earn interest and avoid fees
  • A flat $5.00 quarterly service fee if the average daily balance is not attained. Service charged waived for minors under age 18 and customers age 60 and over
  • EFT Activity (ATM or ACH transactions) permitted on this type of account
  • Interest compounded and paid to the account quarterly.
 
The Interest Rate and Annual Percentage Yield may change after account opening. Fees could reduce earnings on the account. All accounts insured by the FDIC to the maximum amounts allowed by law based on account ownership.