Personal Banking
We have many accounts to meet all of your personal banking needs.

  • No monthly service charge
  • No minimum balance
  • Free cash card

* A non-interest bearing account for consumers. Checks must be purchased.

  • Age 55 and over
  • No monthly service charge
  • No minimum balance
  • Many services provided at no charge
  • First order of safety checks at no charge
  • Personal NOW Checking
  • Superior Gold NOW Checking (Age 55 and over)
  • Service charge applies if average daily balance is below $1,500.00. Disclosure available upon request
  • Interest compounds monthly
  • At Grand Marais State Bank, our industry leading consumer credit card products offer competitive pricing combined with a full range of reward options - making it easy to select and apply for the card that meets your needs. Learn More or Apply Now.
  • No minimum balance
  • Interest compounds quarterly
  • A $2.00 per month maintenance fee applies if average daily balance is below $200.00
  • A $1.00 fee is applied for each withdrawal in excess of three per month
  • See Disclosure for transaction limitations and fees
  • Children ages 12 and under
  • Initial deposit of $25.00 to open account
  • Each additional deposit of $5.00 earns a point
  • Save points and win prizes
  • Interest compounds quarterly
  • $2,500.00 deposit required to open account
  • $5.00 per month if average daily balance falls below $2,500.00
  • Interest compounded monthly
  • Variable rate
  • Disclosure available upon request
  • 90 Day Investor CD (3 Months)
    • Minimum balance of $10,000
  • 182 Days (6 Months)
    • Minimum balances of $1,000.00, $5,000.00 or $10,000.00
    • Rates vary with balance
  • 1 Year - Minimum balance of $1,000.00
  • 2 Year - Minimum balance of $1,000.00
  • 3 Year - Minimum balance of $2,500.00
  • 5 Year - Minimum balance of $2,500.00

*Disclosure available upon request

IRA Accounts

This account allows you to defer taxes on your earnings. Also, contributions may be tax deductible for the tax year in which they are made. The IRA deposit limits for 2018 are $5,500.00 per individual/year and $6,500.00 per year for individuals 50 years old and over. This is set to increase for 2019 to $6,000.00 per individual/year and $7,000.00 per year for individuals 50 years old and over. Contribution amounts can vary depending on your income level.

This account features tax-free withdrawals after reaching age 59 1/2 and maintaining your ROTH for 5 years. When you take a distribution at that time, you pay no taxes on any of the earnings that your money has accumulated.

Contributions to a Roth IRA are not tax deductible.

Contact your tax advisor to find out how an IRA could help you meet your financial goals.

To become a new customer, click on the link for the Consumer Information Sheet. Please fill out the form and bring it in to either our Grand Marais or Tofte location.