The smarter way to save.

Simply Savings offers you easy access to your money. There are no hoops to jump through and no locked in terms. Just deposit your money in our high-yield savings account and start earning today!

Grow Your Savings

This high-yield savings account earns you higher than the FDIC national average savings rate

No Monthly Fees

On Balances over $100 there are no monthly service fees, so what you earn is what you keep! (item charges may still apply)

Low Minimums

There are low minimums, $100 minimum deposit, to open or maintain your high-yield Simply Savings account. No hoops to jump through, just deposit your money and earn a great rate!

What you need to know:

6 withdrawals / debits per statement cycle
without a service charge**

One (1) Simply Savings account
per primary Tax ID/SSN

Deposits are FDIC Insured
up to $250,000 per depositor

What to consider when choosing a high yield savings account:

Annual Percentage Yield

Annual Percentage Yield (APY) is how much compound interest you will earn in a year. Our Simply Savings pays interest with each statement cycle. With rates higher than the FDIC national average savings rate, you can enjoy CD level interest rates without being locked into a lengthy term.

Minimum Deposit Required

Some high-yield savings accounts require an opening deposit of $10,000 or more. You can open a Simply Savings with us for just $100 and start earning more in just 15 minutes! Open your account here.

Minimum Balance Required

Other high-yield savings accounts require a certain minimum balance to earn the higher APY and avoid service fees. With Simply Savings, you can avoid a low balance fee and earn a great rate by maintaining a $100 available (collected) balance in your account.


Withdrawal Options

Don’t be restricted from using your money when you need it! You can withdrawal from your Simply Savings up to 6 times per statement cycle without a fee.**

Best Uses for a High-Yield Savings Account:

  • Down Payment on a Home
  • Saving for College
  • Family Vacation
  • Saving for a Vehicle
  • Upgrading Your Home
  • And so much more!
Open A Simply Savings Account

Simply Savings Split Balance Tiers**(3)

Tier Level

Account Funds

Simply Savings Interest Rate(2)

APY (Annual Percentage Yield) Ranges

Tier 1

up to $500.00



Tier 2

$500.01 – $25,000.00


2.27 to 2.27%

Tier 3

$25,000.01 – $50,000.00


2.27 to 1.14%

Tier 4

$50,000.01 – $100,000.00


1.14 to 0.59%

Tier 5

$100,000.01 – $200,000.00


0.59 to 0.32%

Tier 6

$200,000.01 – $1,000,000.00


0.32 to 0.11%


Example 1, you deposit $1,000 into a Simply Savings, you earn 2.25% interest on all of your funds, so your APY interest rate on your statement will show as 2.27%.

Example 2, you deposit $30,000 into a Simply Savings account you will earn 2.25% interest on the first $25,000. You will then earn 0.01% on the other $5,000 that you deposited. Therefore, when you see the APY interest rate on your statement, it will show as 1.89%.

Example 3, you deposit $90,000 into a Simply Savings. You will earn 2.25% interest on the first $25,000; 0.01% on the next $25,000; 0.04% on the final $40,000. Therefore when you see the APY interest rate on your statement, it will show as 0.65%.

(1) on your first $25,000.00

(2) Rates are subject to change after opening the account.  Fees assessed may reduce earnings on the account.

(3) The interest for this account is based on variable rates for each “Split Balance” tier. Interest will be paid on a Split Balance rate calculation method: When split balance rates are used, the portion of an account’s Available (Collected) Balance (AB) which is less than or equal to the first split balance amount earns interest on the first rate tier. The portion of an account’s (AB) which is less than or equal to the second split balance amount earns interest at the second rate tier. The portion of an account’s (AB) which is less than or equal to the third split balance amount earns interest at the third rate tier, and so on up to a maximum of six split balance amounts and six split interest rate tiers (shown above “Simply Savings Split Balance Tiers). The interest rate and overall Annual Percentage Yield (APY) will depend on the (AB) in the account according to the rate tier applied to each portion of the account balance. A $2.00 Low Balance Service Fee is charged when the Available (Collected) Balance (AB) is below $100.00 for the statement cycle. Interest is calculated daily based on the (AB) in the account for each individual day. Daily interest totals are then combined and applied to the account as a single interest total at the end of the statement period. The available balance is the account balance, less unpaid deposited items drawn on other financial institutions in the process of collection. Please E-mail us or contact a Personal Banker at one of our branches for current rate information.

**All Simply Savings accounts will incur a $2.00 charge per withdrawal/debit over 6 per statement cycle.

Rates valid as of November 1, 2022.

Important Information about Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, Federal Law requires all financial institutions to obtain, verify, and record information that identifies each person or business that opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that allows us to identify you. We may also ask to see your driver’s license or other identifying documents.

This little piggy opened a high-yield savings account.

And you should too! Our friendly staff is ready to help you create a new account or transfer your existing business account to Grinnell State Bank.