Savings Accounts and Money Markets

As your trusted banking advisor, one of our goals is to help you save money. To ensure you get the right products to meet your financial goals, Monona Bank offers you a variety of savings options.  Our experienced Banking Advisors will work with you to determine what will work best to help you grow your money – without the hassles or fees other banks may charge. 

Regardless of which savings or money market accounts you choose, you'll also receive additional benefits and the help of our knowledgeable team to help make your banking easier.

Step one: Come in and see us, or call us today.

Check out today's rates on any of our Savings and Money Market accounts.

True Savings

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True Savings is our everyday savings account.  The minimum to open this account is only $100 and there is no monthly account maintenance fee (usually $5) when you keep a daily minimum of $100 in your account or maintain an active checking account with our bank. It’s even easier to save when you set up recurring transfers from your checking account. If you want a basic account that still pays you interest, this would be a great option for you.

Junior Savings

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We believe that it is never too early to start saving. Our Junior Savings account is for clients under 18 years of age. With a low $25 minimum to open and no minimum account balance requirements or account maintenance fees, it’s easy to help kids learn great savings habits.

True Money Market

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This money market is a great starting point for savers who’ve saved more money than they need to keep in our True Savings account. With a higher minimum balance requirement than the True Savings, you earn a higher interest rate. There is a $2,500 minimum deposit to open this account and there is a $2,500 minimum daily balance required to avoid the usual $10 monthly maintenance fee. The interest rates are tiered based on the balance you have in your account.

True North Money Market

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This money market offers higher yields than the True Money Market account with many of the same ways to access your funds. To earn the higher rate there is a $10,000 minimum deposit to open this account and we require you to have a checking account. Check writing is not a feature, but you can easily transfer money to your linked checking account.  You can avoid the usual $12 monthly maintenance/service charge when you maintain a minimum daily balance of $10,000 and have a checking account linked to your True North Money Market account. A $12 fee will be added if a checking account is not linked. The interest rates are tiered based on the balance you have in your account.

True Growth Money Market

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This money market features our highest interest rate and we require $25,000 in new deposits to Monona Bank to access this account. The requirements are designed to help provide you the highest interest rate possible. The minimum opening deposit is $25,000 and a $25 monthly service fee is charged if the balance falls below $25,000 any day in a statement period.  Each check withdrawal is $3.  When you open this account with a checking account you can easily transfer money back and forth. 

Savings Account Comparison

True SavingsJunior Savings
Account FeaturesOur traditional savings account to help you meet your saving goals.Special interest bearing account that encourages children up to age 18 to start saving.
Minimum Deposit to Open$100$25
How Interest is PaidCredited & Compounded MonthlyCredited & Compounded Monthly
Minimum Daily Balance Per Statement CycleN/AN/A
Monthly Account Maintenance FeeN/AN/A
Monthly Withdrawals (includes ATM, phone transfers, online transfers, ACH, in-person, etc.)Six (6) $5 each after first six.Six (6) transfers or withdrawals per month.
Statement FrequencyMonthlyQuarterly


Money Market Comparison

True Growth Money MarketTrue North Money MarketTrue Money Market
Account FeaturesHigh yield investment account offering security and convenient access to funds. Limited check writing and higher minimums help us offer the highest rate possible.High yield investment account offering security and convenient access to funds. No checks provided with this account, simply transfer funds to your required checking account.Investment account offering variety of access methods to funds, including check access.
Minimum Deposit to Open$25,000 of new deposits to Monona Bank$10,000$2,500
How Interest is PaidCredited & Compounded MonthlyCredited & Compounded MonthlyCredited & Compounded Monthly
Minimum Daily Balance Per Statement Cycle$25,000$10,000$2,500
Monthly Account Maintenance Fee$25 minimum balance service charge if balance falls below $25,000.$12 minimum balance service charge if balance falls below $10,000; $12 if no checking account is linked.$10 minimum balance service charge if balance falls below $2,500.
DepositsUnlimitedUnlimitedUnlimited
Monthly Withdrawals (includes ATM, phone transfers, ACH, in-person, etc.)Six (6) $5 each after the first six. $3 for each check paid.Six (6) non-check withdrawals. $5 each after first six.Six (6) (includes checks) $5 each after first six.
Statement FrequencyMonthlyMonthlyMonthly


* Ask one of our Banking Advisors for a copy of our "Truth in Savings Disclosure" to review fees that may apply to these accounts.


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LifeSavings HSA's

Health Savings Accounts (HSAs) are emerging as an important financial tool to help individuals, families and businesses plan and save for personal medical expenses that you may incur today and in the future.

Learn More About HSAs

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Retirement Accounts (IRAS)

Planning for retirement is a good thing for your future. Federal tax laws make it possible for you to enjoy a tax break while you save for retirement. Monona Bank offers you several ways to take advantage of these savings opportunities.

Learn More About IRAs

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