Personal Savings
Reach Your Financial Goals Faster
Build a stronger financial foundation with our personal savings accounts. We offer competitive rates to help your savings grow steadily over time, while ensuring easy access to your funds for those unexpected moments when life calls. Reach your financial milestones with the security and long-term growth you need.
Why Timberline Bank?
in the Nation
Additional Personal Accounts
Health Savings Account (HSA)
Invest in your health and future with Timberline’s HSA Solution.
- Tax advantage account exclusively for paying qualified medical expenses
- Doctor visits
- Prescription medication
- Surgeries, operations, and more
- No “Use It or Lose It” rule. Unused funds remain in the account year after year
- Contributions can be made by you, your employer, or a third party
- Contribution Plans:
- Individual Coverage Plan
- Family Coverage Plan
- Catch-Up Contribution (age 55 or older)
- Your HSA follows you regardless of career, location, or life changes
- Access funds easily with an HSA Visa® debit card or checks
For more information on contribution amounts, visit www.irs.gov or the HSA Service Center.
Minor Savings Account (MSA)
A minor savings account is a bank account opened for a child or teenager, usually with a parent or guardian as a joint owner, designed to help them learn about saving money and build positive financial habits.
Certificate of Deposit (CD)
A Certificate of Deposit (CD) is a type of savings account that holds a fixed amount of money for a fixed period of time (the term), offering a higher interest rate than regular savings accounts in exchange for less access to your funds until maturity.
- Choose your terms (30 days – 60 months)
- Requires $1,000 deposit to open
- Early withdrawal penalty may apply:
| CD Term | Penalty |
|---|---|
| 30 Days - 6 Months | All interest on the amount withdrawn |
| 12 Months | 180 days interest on the amount withdrawn |
| 24 - 36 Months | 365 days interest on the amount withdrawn |
| 48 - 60 Months | 730 days interest on the amount withdrawn |
Individual Retirement Account (IRA)
An IRA, or Individual Retirement Account, is a tax-advantaged savings account designed to help individuals save for retirement.
Traditional & Roth IRAs
|
Product |
Traditional IRA |
Roth IRA |
|---|---|---|
|
What’s the difference? |
Contributions are tax-deductible, and earnings are taxed upon withdrawal. Withdrawals are penalty free beginning at age 59 1/2. Distributions are required to start at age 73. |
Contributions are not tax-deductible, but qualified earnings are tax free upon withdrawal. Contributory withdrawals can be made at any time without incurring IRS taxes or penalties. Earnings withdrawals are also tax and penalty-free, provided certain conditions are met, such as reaching the age of 59 1/2 and fulfilling a 5-year holding period. Not required to take distributions. |
|
Terms |
12 Months 24 Months 48 Months |
No term or maturity date |
|
Benefits |
Earned interest is tax-deferred. Contributions may qualify for a tax credit. |
Qualified earned interest is tax free. Contributions may qualify for a tax credit. |
|
Contribution |
Eligible to contribute if you earn compensation. |
Eligible to contribute if you earn compensation. |
Additional Personal Accounts
Health Savings Account (HSA)
Invest in your health and future with Timberline’s HSA Solution.
- Tax advantage account exclusively for paying qualified medical expenses
- Doctor visits
- Prescription medication
- Surgeries, operations, and more
- No “Use It or Lose It” rule. Unused funds remain in the account year after year
- Contributions can be made by you, your employer, or a third party
- Contribution Plans:
- Individual Coverage Plan
- Family Coverage Plan
- Catch-Up Contribution (age 55 or older)
- Your HSA follows you regardless of career, location, or life changes
- Access funds easily with an HSA Visa® debit card or checks
For more information on contribution amounts, visit www.irs.gov or the HSA Service Center.
Minor Savings Account (MSA)
A minor savings account is a bank account opened for a child or teenager, usually with a parent or guardian as a joint owner, designed to help them learn about saving money and build positive financial habits.
Certificate of Deposit (CD)
A Certificate of Deposit (CD) is a type of savings account that holds a fixed amount of money for a fixed period of time (the term), offering a higher interest rate than regular savings accounts in exchange for less access to your funds until maturity.
- Choose your terms (30 days – 60 months)
- Requires $1,000 deposit to open
- Early withdrawal penalty may apply:
| CD Term | Penalty |
|---|---|
| 30 Days - 6 Months | All interest on the amount withdrawn |
| 12 Months | 180 days interest on the amount withdrawn |
| 24 - 36 Months | 365 days interest on the amount withdrawn |
| 48 - 60 Months | 730 days interest on the amount withdrawn |
Individual Retirement Account (IRA)
Traditional IRA
|
Traditional IRA |
|
|---|---|
|
What’s the difference? |
Contributions are tax-deductible, and earnings are taxed upon withdrawal. Withdrawals are penalty free beginning at age 59 1/2. Distributions are required to start at age 73. |
|
Terms |
12 Months 24 Months 48 Months |
|
Benefits |
Earned interest is tax-deferred. Contributions may qualify for a tax credit. |
|
Contribution |
Eligible to contribute if you earn compensation. |
Roth IRA
|
Product |
Roth IRA |
|---|---|
|
What’s the difference? |
Contributions are not tax-deductible, but qualified earnings are tax free upon withdrawal. Contributory withdrawals can be made at any time without incurring IRS taxes or penalties. Earnings withdrawals are also tax and penalty-free, provided certain conditions are met, such as reaching the age of 59 1/2 and fulfilling a 5-year holding period. Not required to take distributions. |
|
Terms |
No term or maturity date |
|
Benefits |
Qualified earned interest is tax free. Contributions may qualify for a tax credit. |
|
Contribution |
Eligible to contribute if you earn compensation. |
Invest in Tomorrow, Today
With our Bank the Difference Round-Up Program, every purchase you make is rounded up to the nearest dollar, and the extra change is deposited directly into your savings account. Contact us today to use everyday spending for effortless savings.
Make the Switch Today
If you’re ready to make the switch, we’ve made it easier than ever. Open your personal savings account today and experience the difference of banking locally.
Personal Savings FAQs
You can access your account balance through online banking, our mobile app, ATMs, phone banking, or by visiting a branch.
Yes, you can set up automatic transfers from your checking account or other accounts to regularly contribute to your savings.
Typically, you'll need a valid government-issued ID (driver's license, passport, etc.), your Social Security number, and proof of address.
All Timberline Bank personal savings accounts have a $0 monthly maintenance fee.