Basic Savings

  • $50.00 to open
  • 2 free transfers/withdrawals per month
  • $1.00 fee for each transfer/withdrawal over 2

Christmas Club Account

  • No minimum to open
  • November to October (pays out in October)
  • Automatic debit from checking account
  • Interest bearing

Money Market

  • $2,500.00 to open
  • $10.00 fee if balance falls below $2,500.00
  • Debit transactions limited to 6 per statement cycle
  • $5.00 excess transaction fee per item over six
  • Interest bearing
  • Monthly statements

CD Rates

Terms Minimum Deposit Interest Rate APY *
91 days $1,000 .10% .10%
182 days $1,000 .20% .20%
12 months $1,000 .30% .30%
18 months $1,000 .35% .35%
30 months $1,000 .60% .60%
Money Market $1,000 .20% .20%
Anniversary Money Market $2,500 .20% .20%
Savings $50 .20% .20%
Christmas Club No Minimum .20% .20%

* The “annual percentage yield” (APY) is defined as the total amount of interest paid on an account, based on the interest rate and the frequency of compounding for a 365 day period, expressed as a percentage, calculated according to the rules in Appendix A of Reg DD. The interest rate and annual percentage yield may change after account opening. Fees may reduce earnings.
* Penalty for early withdrawal. These rates are as of 06/13/2012. To see if these rates have changed, call 1-217-675-2311.

Individual Retirement Accounts

Franklin Bank is proud to announce the following IRA options:

Traditional IRA

  • Can be tax deductible
  • Tax deferred earnings
  • Penalty-free withdrawals can be taken for first-time home purchase and qualified college expenses for your family
  • The annual contribution limit is currently $5,000.00. Individuals who have reached age 50 by the end of the year will be able to make an additional catch-up contribution of $1,000.00.
  • Must be younger than 70 1/2 and have earned income


  • Tax-free earnings: while contributions will not be deductible, distributions of earnings from a plan that has been open at least 5 years may be tax free
  • Penalty-free, tax-free qualified withdrawals
  • Must have earned income
  • No age requirements: you can make contributions past the age of 70 1/2
  • You can convert an existing Traditional IRA to a ROTH IRA
  • No required minimum distribution
  • Withdrawals are taken from contributions first

Income limitations may apply. If you have any questions about IRAs or any of our other products, email us at