If staying healthy is a priority in your household, then you already know how expensive the task can be. The costs of health insurance, prescription drugs and other related expenses can really add up. One way to plan accordingly for medical expenses is to open up and maintain a health savings account.
Health savings accounts exist to be used in conjunction with high-deductible insurance plans. There are several great things about these types of specialty accounts. Aside from being tax-free, health savings accounts tend to pay higher interest rates than traditional savings accounts.
Case in point, Illinois based South Side Bank has a 1.25% APY health savings account rate. That earning potential is nearly triple the current, national average savings rates.
Health savings accounts are not for everyone, however if you meet all of the terms required by federal law and are entitled to earn the savings account interest rate of 1.25% APY you need to:
- Minimum balance of $100 required for opening
- A daily balance of $5,000 is required to generate the savings account interest rate
- There are no monthly service fees
- FDIC insured
South Side Bank has been servicing their local community since being founded on January 4, 1922. The financial institution has branches in the cities of Washington, Peoria, West Peoria, Bartonville, Chillicothe and East Peoria.
Current South Side Bank CD Rates
- 6 Month CD Rate – South Side Bank
- 12 Month CD Rate – South Side Bank
- 2 Year / 24 Month CD Rate – South Side Bank
Other South Side Bank Rates
Other Terms and Conditions may apply. Additionally, rates may have changed since this offer was posted. Please contact the financial institution for the most recent rate updates and to review the terms of the offer.
