Account Rates
F&M Bank provides many different account options so you can invest your money how works best for you and have access to it when needed. Take a look at these account options for our current rates.
Effective 02/25/2025
Annual Percentage Yields are accurate as of 02/25/2025
CD Specials
Term | Minimum Deposit* | Compounds | Interest Rate | APY** |
|---|---|---|---|---|
12 Months*** | $1,000.00 | Quarterly | 3.70% | 3.75% |
Visit your local branch to open your CD today!
*New or Renewal Money. Early withdrawal will result in a 90-day interest penalty.
**APY = Annual Percentage Yield
***One Step-up after 60 days and no special withdrawal terms.
CDs/IRAs
Term | Minimum Deposit* | Compounds | Interest Rate | APY** |
|---|---|---|---|---|
3 Months | $1,000.00 | Quarterly | 2.00% | 2.00% |
6 Months | $1,000.00 | Quarterly | 1.98% | 2.00% |
9 Months | $1,000.00 | Quarterly | 1.98% | 2.00% |
12 Months*** | $1,000.00 | Quarterly | 3.21% | 3.25% |
14 Months*** | $1,000.00 | Quarterly | 3.21% | 3.25% |
18 Months*** | $1,000.00 | Quarterly | 2.97% | 3.00% |
24 Months*** | $1,000.00 | Quarterly | 2.72% | 2.75% |
36 Months*** | $1,000.00 | Quarterly | 2.48% | 2.50% |
48 Months*** | $1,000.00 | Quarterly | 2.48% | 2.50% |
60 Months | $1,000.00 | Quarterly | 2.23% | 2.25% |
* Substantial Penalty For Early Withdrawal
** APY = Annual Percentage Yield
*** One Step Up available to a higher board rate of the same term after 6 months. One withdrawal of up to 50% of the principal balance after 6 months, penalty free. Call for details.
IRA Plus
Balance | Compounds | Interest Rate | APY* |
|---|---|---|---|
$0 - $2,999.99 | Quarterly | 0.25% | 0.25% |
$3,000.00 - $9,999.99 | Quarterly | 0.25% | 0.25% |
$10,000.00 - $24,999.99 | Quarterly | 0.75% | 0.75% |
$25,000.00 - $49,999.99 | Quarterly | 0.99% | 1.00% |
$50,000.00 - $99,999.99 | Quarterly | 1.49% | 1.50% |
$100,000.00+ | Quarterly | 1.98% | 2.00% |
* APY = Annual Percentage Yield. Interest rate is variable and may change after the account is opened.
Checking
50+ Interest Checking
Balance | Compounds | Interest Rate | APY* | Service Charge |
|---|---|---|---|---|
$0+ | Monthly | 0.25% | 0.25% | N/A |
VIP Interest Checking
Balance | Compounds | Interest Rate | APY* | Service Charge |
|---|---|---|---|---|
$0+ | Monthly | 0.25% | 0.25% | $8.00 Monthly Maintenance Fee |
Interest earned on total balance. At our discretion, we may change the balance tier on your account at any time. A 30-day notice will be provided for these changes.
*APY = Annual Percentage Yield Interest rate is variable and may change after the account is opened. Fees may reduce earnings.
VIP Platinum Interest Checking
Balance | Compounds | Interest Rate | APY* | Service Charge |
|---|---|---|---|---|
$0+ | Monthly | 0.25% | 0.25% | $12.00 Monthly Maintenance Fee |
Interest earned on total balance. At our discretion, we may change the balance tier on your account at any time. A 30-day notice will be provided for these changes.
*APY = Annual Percentage Yield Interest rate is variable and may change after the account is opened. Fees may reduce earnings.
Performance Checking
Balance | Compounds | Interest Rate | APY* | Service Charge |
|---|---|---|---|---|
$0 - $24,999 | Monthly | 3.93% | 4.00% | N/A |
$25,000 + | Monthly | 1.98% | 2.50%* | N/A |
Non Qualifier - Earned on entire Balance | Monthly | 0.50% | 0.50% | N/A |
Performance Checking: To be eligible for a Performance Checking account you must receive monthly electronic statements. If you decide to opt-out of electronic statements, you will no longer be eligible for this product. This account is only available to consumers, limit (2) per household. To open the account, you must deposit a minimum of $250.00. No monthly service charges apply.
Eligibility Requirements to qualify for higher interest rates: You must meet the following requirements per a statement cycle: Ten (10) debit card transactions must post and clear, One (1) monthly automated clearing house (ACH) debit or credit. Enroll in F&M Bank’s Personal Online Banking, and log in a minimum of One (1) time per statement cycle. The Performance Checking account statement cycle will begin on third Tuesday of each month.
*Rate Information: The interest rate and annual percentage yield (APY) for these tiers may change. A minimum account balance of $1.00 is required to earn interest. If customer does not meet their eligibility requirements, the interest rate of 0.50% with a 0.50% (APY) is applied to all balances. The following Performance Checking interest rates are earned if all eligibility requirements are met. Tier 1. An interest rate of 3.93% will be paid on the entire portion of your daily balance $25,000.00 or less. The APY for this tier is 4.00%. Tier 2. An interest rate of 1.98% will be paid for that portion of your daily balance that is greater than $25,000.00. The APY for this tier will range from 4.00% to 2.50%, depending on the balance in your account. The monthly statement will show a blended rate of interest. The monthly APY is accurate as of 02/25/2025. Your interest rate and annual percentage yield are subject to change. Fees may reduce earnings. All applicants must meet F&M Bank’s account opening requirements. Some restrictions may apply.
Choice Interest Checking
Balance | Compounds | Interest Rate | APY* | Service Charge |
|---|---|---|---|---|
$0 - $2,499.99 | Monthly | 0.10% | 0.10% | $8.00 if balance falls below $2,500 |
$2,500.00 - $24,999.99 | Monthly | 0.25% | 0.25% | N/A |
$25,000+ | Monthly | 0.50% | 0.50% | N/A |
Choice Business Interest Checking
Balance | Compounds | Interest Rate | APY* | Service Charge |
|---|---|---|---|---|
$0 - $2,499.99 | Monthly | 0.50% | 0.50% | $8.00 if balance falls below $2,500 |
$2,500.00+ | Monthly | 0.50% | 0.50% | N/A |
*APY = Annual Percentage Yield. Tiered interest - Interest earned on total balance. Interest rate is variable and may change after the account is opened. Earnings are credited monthly. Fees may reduce earnings.
Money Market
Performance Money Market
Balance | Compounds | Interest Rate | APY* | Service Charge |
|---|---|---|---|---|
$0 - $24,999.99 | Monthly | 1.49% | 1.50% | $12.00 if balance falls below $2,500.00 |
$25,000.00 - $49,999.99 | Monthly | 1.98% | 2.00% | N/A |
$50,000.00 - $99,999.99 | Monthly | 2.72% | 2.75% | N/A |
$100,000.00 - $249,999.99 | Monthly | 2.96% | 3.00% | N/A |
$250,000.00 - $499,999.99 | Monthly | 3.44% | 3.50% | N/A |
$500,000.00 - $999,999.99 | Monthly | 3.69% | 3.75% | N/A |
$1,000,000.00 + | Monthly | 4.17% | 4.25% | N/A |
*APY = Annual Percentage Yield. Interest rate is variable and may change after the account is opened. Fees may reduce earnings. Performance MMA available to residents in F&M Bank’s TN & KY markets.
IntraFi | ICS MMDA
Balance | Compounds | Interest Rate | APY* | Service Charge |
|---|---|---|---|---|
$500,000.00 + | Monthly | 2.47% | 2.50% | N/A |
*APY = Annual Percentage Yield. The stated APY is not tied to any rate index. Interest rate is variable and may change after the account is opened.
Savings
Smart Savings (Consumer & Business)
Balance | Compounds | Interest Rate | APY* | Service Charge |
|---|---|---|---|---|
$0+ | Quarterly | 0.25% | 0.25% | $2 for each withdrawal/transfer over 6 per month |
*APY = Annual Percentage Yield. Interest rate is variable and may change after the account is opened. Interest rate is paid for balances over $1.00. There is a charge of $2.00 per withdrawal/transfer in excess of 6 per month. Fees may reduce earnings.
Youth Savings
Balance | Compounds | Interest Rate | APY* | Service Charge |
|---|---|---|---|---|
$0+ | Quarterly | 0.25% | 0.25% | $2 for each withdrawal/transfer over 6 per month. |
*APY = Annual Percentage Yield. Youth Savings for under age 20. Account pays interest on all balances. Interest rate is variable and may change after the account is opened. Fees may reduce earnings.
Health Savings Account
Balance | Compounds | Interest Rate | APY* | Service Charge |
|---|---|---|---|---|
$0+ | Monthly | 0.25% | 0.25% | N/A |
*APY = Annual Percentage Yield. Interest rate is variable and may change after the account is opened. Fees may reduce earnings. Account pays interest on all balances. By law, account requires a high deductible health insurance account. Unlimited withdrawals for qualified medical expenses. Minimum $50 opening balance.