Savings/HSA

We're here to help you save. Whether saving for health expenses or putting money aside for rainy day, First Independent Bank has your savings solutions. 

Savings Accounts and Health Savings Accounts

We're here to help you save. Whether saving for health expenses or putting money aside for a rainy day, First Independent Bank has your saving solutions.

Health Savings Accounts - HSAs

We're here to help you save. Whether saving for health expenses or putting money aside for a rainy day, First Independent Bank has your saving solutions.

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Statement Savings

• Competitive interest rate
• Accrued on daily balance Interest paid quarterly
• Quarterly statements $100.00 minimum opening balance

Kids First Savings

Children 12 and under receive a free piggy bank at account opening.

• Competitive interest rate
• Interest accrued on daily balance
• Interest paid quarterly
• Quarterly statements $25.00 minimum opening balance

Investment Savings

• Competitive tiered interest rate
• Interest accrued on daily balance
• Interest paid monthly
• Monthly statements $5000.00 minimum opening balance

Health Savings Accounts

Save for health-related expenses and more with a tax-advantaged HSA account.

If you have a high deductible health plan (HDHP), you may be eligible for an HSA and these valuable tax benefits.

HSA contributions are:

• Tax-deductible
• Tax-free distributions (if used properly)
• Tax-deferred earnings

HSA balances carry over each year and remain with you regardless of your employment status or health care coverage in the future. Use your HSA for qualified medical expenses, at any age. This generally includes most medical, dental, and vision care expenses. Some health insurance premiums may also be considered eligible expenses.

Contribution limits are determined by the IRS and are subject to change each year. Check with your health insurance provider and/or tax adviser for eligibility requirements and details.

How much may be contributed to an HSA in the calendar year 2025?
For plans effective January 1, 2025

• Individual: $4,300
• Family: $8,550
• Catch-Up Amount (Ages 55+): $1,000

There is a $2.50 monthly charge or $30 billable annual fee (this option is used only when the employer is being billed for the fee).

Individual Coverage

• 2025 annual deductible: $1,650 Minimum 
• 2025 annual out-of-pocket expense limit: not more than $8,300

Family Coverage

• 2025 annual deductible: $3,300 minimum
• 2025 annual out-of-pocket expense limit: not more than $16,600
• These plans do not have co-pays for doctor visits or prescription drugs
• These plans can be "network" plans
• Some qualified plans may have a first-dollar benefit or low-deductible benefit for preventive care only.
• In the case of family coverage, a plan is only an HDHP if under the terms of the plan no amounts are payable until the aggregate family deductible is met.

For more information on Health Savings Accounts and how they work, go to:

www.hsaresourcecenter.com or www.irs.gov

CHECKING/SAVINGS INTEREST RATES

CD/IRA INTEREST RATES