Savings Accounts with Marseilles Bank

It’s important to have a savings account. A savings account is the place where you can park your money and earn interest on it so that you can use it later for something else. It’s also an emergency fund, should anything happen to your income stream. You never know when there might be a downturn in the economy or extra help with medical expenses. The best way to build up this fund is by living within your means (which also helps reduce debt) and saving 10% of every paycheck toward long-term goals like retirement or buying a house in five years time. If possible, try not to borrow from this amount unless absolutely necessary because once it’s gone, it’s gone. Here are some savings account basics you can count on from Marseilles Bank.

Savings accounts 101

Savings accounts with strong APYs are a great way to make your money grow. Lending the bank money enables them to offer loans to other customers, so they’re paying you back as thanks for holding their funds on reserve. To maximize yields from savings account rates in general: stay invested no matter what happens; diversify your portfolio across different types of investments (stocks/bonds); invest early during long term periods such as retirement rather than later.

How to save

You’ll want to put the money in your savings account that is not being used for paying off debt or living needs (for example: rent and food). It’s also wise to avoid borrowing from this fund. If possible try to save at least ten percent of every paycheck toward long-term goals like retirement or buying a home.


It’s important to have goals when it comes to your savings account and what it will be used for. This will be different for everyone. One goal might be to save enough money before your child goes off to college so that they can maintain a certain lifestyle. Another goal could be saving up for retirement and not having to worry about living expenses when the time comes. Whatever your goals are, make sure you’re setting them up in advance so that you know how much is needed.

Try to contribute again if you need it for emergencies 

If you need to take money from your savings account for an emergency and are starting from ground zero try hard to build it back up. It doesn’t matter how much you put in every month; the key is to contribute at least something and not touch it.

Round-Up Your Savings

If you’re trying to save some money and your bank offers a program where they round up debit card purchases to the nearest dollar, take advantage of it.

For example, say you buy a coffee and the total is $3.50. Under this program, your bill would be rounded up to $4 and that extra $0.50 would go into your savings account. It doesn’t seem like a lot of money, but after using that program for a year, your change could add up to be a lot of money.

If you’re someone who struggles to save money, try any one of these tips. You’ll be happy you did when you see how much money you have in your savings account. If you have any questions or would like to learn more about what we offer at Marseilles Bank, contact us today at (815)-795-3900.

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