• 1.51% APY* on balances up to $225,000
• 1.10% APY* on portion of balance above $225,000
• No monthly maintenance fee
• Linked to First Rewards Checking account
• Free online banking
• No minimum balance requirement
• $100 minimum deposit to open (no minimum thereafter)

*APY = Annual Percentage Yield

You must have an existing, or open a new, First Rewards Checking account to be eligible for a RewardSaver account.

You will earn the RewardSaver rate of 1.51% APY* if you meet the qualifications on your First Rewards Checking Account:

• Receive eStatements instead of paper statements
• Make a minimum of 10 signature-based MasterMoney card transactions each statement cycle

You only have to meet the qualifications once per cycle. Qualifying for the First Reward Checking features automatically qualifies you for RewardSaver. Learn more about First Reward Checking here.

If you do not meet the qualifications one cycle, your RewardSavings account is still free and earns 0.10% APY* on the entire balance.

Rate tiers are as follows: 1.51% APY applies to balances of $.01 - $225,000 and 1.10% APY applies to balances over $225,000 as long as qualifications are met each interest cycle. 0.10% APY applies to all balances if qualifications are not met. All balances will earn 1.76% APY to 1.10% APY as long as qualifications are met. Annual Percentage Yield (APY) accurate as of 06/01/10 and is subject to change.

• Interest paid on collected balances of $100 or more
• Interest compounded and credited to your account quarterly
• $2 monthly maintenance fee waived with minimum daily balance of $100+
• Three withdrawals permitted per month
• $5 charge for each withdrawal in excess of three per month
• Unlimited deposits
• Monthly maintenance fee waived for minors, regardless of minimum balance

• No minimum balance
• No transaction fees
• Free HSA MasterMoney debit card (Checks available upon request.)
• Free access to online tools such as our deductible tracker and tax reporting assistance
• Tiered interest rates reward higher balances with higher interest rates
• Investment options available through TD Ameritrade for balances over $3000, with a minimum transfer amount of $500
• Monthly Maintenance fee of $5
• One time set up fee of $25

• Must be covered under a qualified, high deductible health plan
• Must not have coverage by another type of health plan
• Cannot be claimed as a dependent on another person's tax return
• Cannot be enrolled in Medicare

Contribution Limit is Determined By:

• Whether you have individual or family coverage
• Statutory annual limit set by the federal government
• If a person is age 55 or older, they are eligible to make "catch-up" contributions

First Southern wants to be your HSA Bank! We offer unlimited access to online tools to help you manage healthcare expenses. Click on any of the following links for more information.

IRS: List of Qualified Expenses

Qualified vs. Non-Qualified Expenses

Frequently Asked Questions

Are you Eligible for a Health Savings Account?

Healthcare Reform and Updates

• Tiered interest rates earn higher rates as balance increases
• Interest credited monthly on collected balances of $1,000 or more
• $10 monthly maintenance fee waived with daily balance of $1,000+
• Six third party or preauthorized transfers per statement cycle, three of which may be made by check or draft*
• $5 fee charged for additional withdrawals

*These limits are set by federal regulations.

• Terms range from three months to five years
• Minimum to open is $500
• Rates vary according to length of term
• Interest can be paid monthly, quarterly, semi-annually, annually, or at maturity
• Automatic certificate renewal available
• Interest may be reinvested, deposited into another account, or paid by check
• CDs may be used as collateral on loans
• All CDs are subject to penalty for early withdrawal

• First Southern offers Traditional, Roth, and Educational IRAs as well as Simplified Employee Pension Plans (SEPs)
• Minimum to open is only $100
• Traditional IRA contributions are tax deferred until withdrawal
• Contributions to Traditional IRAs may be tax deductible
• All earnings on Roth IRA are tax-free upon withdrawal
• Withdrawals from IRAs will likely incur penalties prior to age 59½
• Distributions on Education IRAs (also called Coverdell Education Savings Accounts) are tax-free when used for qualified education expenses

Choosing the right IRA plan is specific to your financial circumstances. Your personal First Southern banker can help you select the best plan for your future.