Personal Banking /

Savings

A range of options for your unique needs.

Mercantile is the bank that focuses on you — your responsibilities, your goals, your dreams for the future. We offer a wide range of personal deposit account options to help meet your unique needs.

Features and Benefits

24 Hour Access

 

Budgeting Tool

   

Mobile Banking

 

Personal Payments

   

Community Savings

A basic savings account designed to fit your savings needs.

  • $25 Minimum Opening Deposit
  • You may make six (6) transfers from your account per monthly statement cycle, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
  • $200.00 average monthly balance
  • The $3.00 monthly maintenance fee can be waived by maintaining a $200.00 average monthly balance or enrolling in electronic statements.
  • Interest is calculated on the daily balance and credited and compounded to the account monthly.

Money Market

Offers easy liquidity along with tiered interest rates.

  • $25 Minimum Opening Deposit
  • You may make six (6) transfers from your account per monthly statement cycle, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
  • The $12.00 monthly maintenance fee can be waived by maintaining a $2,500.00 average available balance
  • Interest is calculated on the daily balance and credited and compounded to the account monthly.

IRA Savings

A simple account to help you save for retirement.

  • $25 Minimum Opening Deposit
  • You may make six (6) transfers from your account per monthly statement cycle, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
  • No minimum balance requirement
  • No monthly service charge
  • Interest is calculated on the daily balance and credited and compounded to the account monthly.
  • Traditional IRA Disclosure Statement
  • Roth IRA Disclosure Statement
  • Simple IRA Disclosure Statement

Student Savings

Student Savings delivers a savings account that introduces young people to the benefits of banking as well as the unique benefits offered by Mercantile Bank. A parent or guardian must be a secondary owner of the account.

  • $25 Minimum Opening Deposit
  • You may make six (6) transfers from your account per monthly statement cycle, if by preauthorized or automatic transfer, or telephone (including data transmission) agreement, order or instruction. Transfers and withdrawals made in person, by messenger, by mail or at an ATM are unlimited.
  • No minimum balance requirement
  • No monthly service charge
  • The primary owner of the account must be less than 18 years of age at the time of the account opening
  • Interest is calculated on the daily balance and credited and compounded to the account monthly

MercClub Savings

A hassle-free way to save for vacations, the holidays or really anything. Make deposits at your convenience and your savings will be automatically transferred into your companion account annually.

  • $1 Minimum Opening Deposit
  • Maximum balance of account is $25,000
  • Timed savings account that matures each year on October 31st
  • You must have a checking or savings account with Mercantile Bank of Michigan attached to the MercClub account. At maturity, funds will be transferred to the linked account.
  • Interest is calculated on the daily balance and credited to the account at maturity

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