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
  • 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.
  • MoneyPass® ATM Network. No ATM transaction fees or surcharge fees at Mercantile Bank and MoneyPass® Network ATMs. (Find a MoneyPass® ATM)

Money Market

Competitive interest rates offered in a tiered balance structure with easy access to your funds.

  • $25 Minimum Opening Deposit
  • You may make 10 withdrawals or transfers from your money market account during the monthly statement period. Excess withdrawals or transfers are charged at $5.00 per item.
  • 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.
  • MoneyPass® ATM Network. No ATM transaction fees or surcharge fees at Mercantile Bank and MoneyPass® Network ATMs. (Find a MoneyPass® ATM)

Student Savings

A great account to introduce young bankers to the benefits of saving. A parent or guardian must be a secondary owner of the account.

  • $25 Minimum Opening Deposit
  • 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
  • Premium interest rate on balances up to $1000.00 to encourage good savings habits
  • MoneyPass® ATM Network. No ATM transaction fees or surcharge fees at Mercantile Bank and MoneyPass® Network ATMs. (Find a MoneyPass® ATM)

IRA Savings

A simple account to help you save for retirement.

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
  • MoneyPass® ATM Network. No ATM transaction fees or surcharge fees at Mercantile Bank and MoneyPass® Network ATMs. (Find a MoneyPass® ATM)

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