*Consult a tax advisor.
Personal Products
Personal Savings
Explore a realm where saving is made easy! Whether you're stashing funds for your dream getaway, a new home, or your retirement, we are here for you. Experience the difference with us!
CSB Regular Statement Savings
Got a goal you’re saving for? Or, just saving for a rainy day? This flexible, multi-purpose account will do the trick!
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Flexible, multi-purpose savings account
Competitive interest on entire balance
Complimentary Mobile & Online Banking*
*Third-party fees may apply
| Minimum Balance | Minimum Deposit to Open Account | Interest Rate* | APY** |
|---|---|---|---|
| $1.00 | $1.00 | 0.70% | 0.70% |
$2 monthly fee when balance falls below $300 during the month, $2 per debit over 10 in a month. Waived for senior citizens and minors. *The rate may change after the account is opened and fees may reduce earnings on the account. **Annual Percentage Yield (APY). Rates effective as of September 30, 2024. New rates may apply for subsequent dates.
- Set aside for something specific or simply a rainy day
- Competitive interest on entire balance
- Avoid the $2 monthly service fee by maintaining a $300 minimum daily balance
- Minimum balance requirement waived for seniors and minors upon request
- 10 pre-authorized, automatic, telephone, electronic, online, or other transfers or withdrawals per statement cycles. $2 fee applies for any debit over 10
- Complimentary online banking*
- $1 minimum deposit to open
*Third-party fees may apply
Simple Savings Calculator
No need to crunch all of those numbers on your own! Our handy, online calculators can help with your financial forecasting.
Based on the above calculations:
Monthly Contribution
$10560
Interest Earned
$5803.89
*This calculator is for informational purposes only, and does not constitute an offer. Results are based on estimates provided by you, and are not guaranteed to be accurate.
CSB Combined Statement Savings
Simplify saving by linking this account to any CSB checking account. Enjoy the ease of one, combined statement.
Highlights
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Competitive Interest
Easy-to-Waive Monthly Fee
Complimentary Mobile & Online Banking
| Minimum Balance | Minimum Deposit to Open Account | Interest Rate* | APY** |
|---|---|---|---|
| $1 – $99,999 | $1.00 | 0.75% | 0.75% |
| $100,000 and over | $100,000 | 0.80% | 0.80% |
Monthly statement combined with checking account. *The rate may change after the account is opened and fees may reduce earnings on the account. **Annual Percentage Yield (APY). Rates effective as of September 30, 2024. New rates may apply for subsequent dates.
- Link this account to any Chelsea State Bank checking account
- Simplify your finances with a combined statement
- Competitive interest on entire balance
- Unlimited in-person withdrawals*
- No monthly service fee
- Complimentary online banking**
- $1 minimum deposit to open
Monthly statement combined with checking account. ** Third-party fees may apply
Simple Savings Calculator
No need to crunch all of those numbers on your own! Our handy, online calculators can help with your financial forecasting.
Based on the above calculations:
Monthly Contribution
$10560
Interest Earned
$5803.89
*This calculator is for informational purposes only, and does not constitute an offer. Results are based on estimates provided by you, and are not guaranteed to be accurate.
CSB Money Market Savings
You’ve done a fantastic job of building your savings – now let us reward you with competitive, tiered-rate earnings.
Highlights
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Competitive Tiered Interest
Complimentary Mobile & Online Banking
Easy-to-Waive Monthly Fee
| Minimum Balance | Minimum Deposit to Open Account | Interest Rate* | APY** |
|---|---|---|---|
| $1 – $2,499 | $1.00 | 0.50% | 0.50% |
| $2,500 and over | $2,500 | 0.75% | 0.75% |
$10 monthly fee when balance falls below $1,000 during the month. $2 per debit over 10 in a month. *The rate may change after the account is opened and fees may reduce earnings on the account. **Annual Percentage Yield (APY). Rates effective as of September 30, 2024. New rates may apply for subsequent dates.
- Competitive, tiered rates — ideal for balances of $1,000 or more
- Higher balances earn higher rates
- Enjoy flexibility with enhanced access to funds, including direct check writing:
- 10 preauthorized, automatic, telephone, electronic, online, or other transfers or withdrawals per statement cycles. $2 fee applies for any debit over 10
- Avoid $10 monthly service fee by maintaining a $1,000 minimum daily balance
- Complimentary mobile & online banking services**
- $1 minimum deposit to open
$2 per debit over 10 in a month. Monthly statement combined with checking account. ** Third-party fees may apply. Below minimum charges: $10.00 monthly fee if your balance falls below $1,000
CSB Combined Money Market Savings
Looking for a smart way to grow your savings while keeping easy access to your funds? Our Combined Money Market Savings Account will help you reach your financial goals!
Highlights
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Competitive Tiered Interest
Ideal for Large Balances
Enhanced Access to Funds
| Minimum balance | Minimum Deposit to Open Account | Interest Rate* | APY** |
|---|---|---|---|
| $1 – $24,999 | $1.00 | 1.20% | 1.21% |
| $25,00 – $49,999 | $25,00 | 1.45% | 1.46% |
| $50,000 – $149,999 | $50,000 | 1.70% | 1.71% |
| $150,000 and over | $150,000 | 2.20% | 2.22% |
$10 monthly fee when balance falls below $1,000 during the month. $2 per debit over 10 in a month. *The rate may change after the account is opened and fees may reduce earnings on the account. **Annual Percentage Yield (APY). Rates effective as of December 13, 2024. New rates may apply for subsequent dates.
- Available to customers with a Chelsea State Bank checking account
- Competitive, tiered rates — ideal for large balances
- Higher balances earn higher rates
- Enjoy flexibility with enhanced access to funds, including direct check writing:
- 10 preauthorized, automatic, telephone, electronic, online, or other transfers or withdrawals per statement cycles.
- Below minimum charges: $10.00 monthly fee if your balance falls below $1,000
- Complimentary online banking services*
- $1 minimum deposit to open
$2 per debit over 10 in a month. Monthly statement combined with checking account. * Third-party fees may apply. Below minimum charges: $10.00 monthly fee if your balance falls below $1,000. Monthly statement combined with checking account.
Certificates of Deposit (CDs)
Save with certainty. That just has a ring to it, doesn’t it? Meet any savings goal with the guaranteed earnings of a CD.
Highlights
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Competitive Interest
Guaranteed Earnings
Wide Range of Terms
| Certificate Term | Minimum to Open | Early Withdrawal Penalty # | Interest Rate* | APY** |
|---|---|---|---|---|
| 182 Days^ | $500 | 3 Months Interest | 3.75% | 3.79% |
| 12 Months | $500 | 3 Months Interest | 3.50% | 3.55% |
| 18 Months | $500 | 6 Months Interest | 2.45% | 2.47% |
| 36 Months | $500 | 6 Months Interest | 2.25% | 2.27% |
| 60 Months | $500 | 1 Year Interest | 2.10% | 2.11% |
#A Penalty may be imposed for early withdrawal. ^182 Day CDs pay interest of compound at maturity. Rate effective as of December 13, 2024. *The rate may change after the account is opened and fees may reduce earnings on the account. **Annual Percentage Yield (APY).
- Fixed rates, higher than standard savings
- Interest paid and compounded quarterly
- For 182-day term interest paid or compounded at maturity
- Interest can be paid to any CSB statement account
- Provides more guarantee than other risky investments
- Set aside for future savings goals
- A wide range of terms available (from 6 months to 5 years)
- No setup or maintenance fees
- Early withdrawals subject to penalty**
- $500 minimum deposit to open
- $500 minimum deposit to open 182-day CD
*Fees may reduce earnings on the account.
**Early withdrawals may result in penalties of 3 months interest to a year’s worth of interest depending on term.
Simple Savings Calculator
No need to crunch all of those numbers on your own! Our handy, online calculators can help with your financial forecasting.
Based on the above calculations:
Monthly Contribution
$10560
Interest Earned
$5803.89
*This calculator is for informational purposes only, and does not constitute an offer. Results are based on estimates provided by you, and are not guaranteed to be accurate.
IntraFi & CDARS
Access millions in FDIC insurance through a single, local bank relationship. It pays to be safe!
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Earn Interest
FDIC Insurance on Deposits > $250,000
Keep Large Cash Balances Secure
Deposit placement through CDARS or ICS is subject to the terms, conditions, and disclosures in applicable agreements. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA (e.g., before settlement for deposits or after settlement for withdrawals) or be uninsured (if the placing institution is not an insured bank). The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through CDARS or ICS satisfies any restrictions on its deposits. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. The depositor may exclude banks from eligibility to receive its funds. The IntraFi hexagon and IntraFi logo are service marks, and ICS, CDARS, and Bank Safe, Bank Smart are registered services marks, of IntraFi Network LLC. BANK SAFE BANK SMART®Access multi-million-dollar FDIC insurance on large deposits placed into demand deposit accounts, money market accounts and CDS, earn interest, and maintain access to funds.All from a bank you already know and trust.
- Available to businesses, nonprofits, public fund managers and other large-dollar depositors.
- Rest assured: Make your entire deposit eligible for FDIC insurance that is backed by the full faith and credit of the federal government. No one has ever lost a penny of FDIC-insured deposits.*
- Earn interest: Using CDARS, you can put excess cash balances to work by placing funds into CDs.
- Save Time: Say goodby to tracking collateral on an ongoing basis, managing multiple bank relationships, manually consolidating bank statements, and other time-consuming workarounds.
- Enjoy Flexible Liquidity Options: CDARS allows you to select from multiple term options to meet your liquidity needs.
- Transparent Reporting: See important account details online, 24/7. Receive one statement with detailed reporting provided by CSB. Your confidential information remains protected.
- Community Investment: Feel good knowing that the full amount of your funds placed through CDARS can support local lending opportunities that build a stronger community.**
*Deposit placement through an IntraFi service is subject to the terms, conditions, and disclosures in applicable agreements. Deposits that are placed through an IntraFi service at FDIC-insured banks in IntraFi’s network are eligible for FDIC deposit insurance coverage at the network banks. The depositor may exclude banks from eligibility to receive its funds. Although deposits are placed in increments that do not exceed the FDIC standard maximum deposit insurance amount (“SMDIA”) at any one destination bank, a depositor’s balances at the institution that places deposits may exceed the SMDIA before settlement for deposits or after settlement for withdrawals. The depositor must make any necessary arrangements to protect such balances consistent with applicable law and must determine whether placement through an IntraFi service satisfies any restrictions on its deposits. IntraFi, the IntraFi logo, CDARS, and the Certificate of Deposit Account Registry Service are registered trademarks of IntraFi LLC.
** When deposited funds are exchanged on a dollar-for-dollar basis with other institutions that use CDARS, our bank can use the full amount of a deposit placed through CDARS for local lending, satisfying some depositors’ local investment goals or mandates. Alternatively, with a depositor’s consent, our bank may choose to receive fee income instead of deposits from other participating institutions. Under these circumstances, deposited funds would not be available for local lending.
IRA
A comfortable and happy retirement starts here. Begin saving today with tax advantages* — it’s never too early or too late.
Highlights
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Tax Advantages*
Competitive Interest
No Setup or Maintenance Fees
- Competitive interest above standard savings rates
- Traditional and Roth IRA options
- No setup fees
- No monthly or annual maintenance fees
- Annual contribution limits apply (see current contribution limits; $6,000 as of 2019)*
- Additional $1,000 “catch-up” contribution allowed for ages 50+
- Funds can be used to purchase CDs within IRA
- $500 minimum deposit to open
There are advantages to both traditional and Roth IRAs. One of the biggest differences is the time at which you see the most advantage. A traditional IRA provides potential tax relief today, while a Roth IRA has the potential for the most tax benefit at time of retirement.
Traditional IRA
- No income limits to open
- No minimum contribution requirement
- Contributions are tax deductible on state and federal income tax*
- Earnings are tax deferred until withdrawal (when usually in lower tax bracket)
- Withdrawals can begin at age 59½
- Early withdrawals subject to penalty**
- Mandatory withdrawals at age 70½
Roth IRA
- Income limits to be eligible to open Roth IRA***
- Contributions are NOT tax deductible
- Earnings are 100% tax free at withdrawal*
- Principal contributions can be withdrawn without penalty*
- Withdrawals on interest can begin at age 59½
- Early withdrawals on interest subject to penalty**
- No mandatory distribution age
- No age limit on making contributions as long as you have earned income
*Subject to some minimal conditions. Consult a tax advisor.
**Certain exceptions apply, such as healthcare, purchasing first home, etc.
***Consult a tax advisor.
*Consult a tax advisor.
Plinqit
Decide how much you need to save and we’ll take care of the rest – saving made simple! Best of all, it’s free*!
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Safely and Securely Create 5 Goals
Automated Savings
Learn and Earn Rewards**
*The only fee you may pay is a self-selected Break the Safe penalty incurred if you withdraw your funds before completing your savings goal. When setting your savings goal, you may select no penalty. If this option is selected, you will not be eligible to receive a reward for completing your savings goal. **Rewards and incentives are paid out upon completion of your primary savings goal in Plinqit. Rewards for reaching our savings goal ranges based on the type of goal, the goal amount, and the time to reach the savings goal.
- Links to your account, simply and safely
- Set a goal and see your savings grow
- Save and get Plinqit rewards for it
- Refer a friend and earn rewards
Chelsea State Bank has partnered with Plinqit to offer this application and service to our community. You do not have to be a customer of Chelsea State Bank to use Plinqit. When you sign up for Plinqit you may receive email and promotional communications from Chelsea State Bank which you can opt-out of at any time. Plinqit is owned by HMDA Holdings Dexter Michigan. All funds held within Plinqit are FDIC insured.
Simple Savings Calculator
No need to crunch all of those numbers on your own! Our handy, online calculators can help with your financial forecasting.
Based on the above calculations:
Monthly Contribution
$10560
Interest Earned
$5803.89
*This calculator is for informational purposes only, and does not constitute an offer. Results are based on estimates provided by you, and are not guaranteed to be accurate.