From everyday savings to CDs and health savings accounts, Brooks Bank has helped families across Oklahoma City and surrounding areas build toward their financial goals with personalized guidance.
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Whether you are building an emergency fund, saving for your child's future, earning interest on larger balances, or locking in a guaranteed return with a CD, Brooks Bank has a savings solution to match. Open a savings account online or visit any location to get started. FDIC-insured and backed by over 130 years of local banking experience.
From traditional savings and money market accounts to tax-advantaged accounts and guaranteed-return CDs, explore the options below and talk to a banker about the best fit.
A simple, reliable savings account to help you build toward your goals one deposit at a time.
Teach your kids smart money habits early. Fun, rewarding savings for children under 18.
* If you close your interest-bearing account, any interest accrued but not yet paid is forfeited. Interest is calculated on the daily balance, credited and compounded quarterly.
** This is a variable rate account. The $10.00 deposit by Brooks Bank is for minors under the age of 18 only.
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Lock in a guaranteed return with flexible terms from 3 to 60 months. Safe, predictable growth.
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Save for medical expenses with triple tax advantages. Contributions, growth, and qualified withdrawals are all tax-free.
*There is a $1 monthly fee for all HSA accounts.
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Start planning for retirement with a Traditional or Roth IRA. Tax advantages today or tax-free income later.
* There is a $10 annual fee for all IRA accounts.
Earn higher interest on larger savings balances while keeping your funds accessible. A savings and money market account in one.
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Generally, you can begin taking penalty-free withdrawals from a Traditional IRA at age 59 and a half. Withdrawals taken before that age may be subject to a 10% early withdrawal penalty plus income tax, with certain exceptions. Roth IRA contributions can be withdrawn at any time without penalty, though earnings may be subject to different rules. Consult your tax advisor for your specific situation.
You can use your HSA debit card for qualified medical expenses as defined by the IRS, which include doctor visits, prescriptions, dental and vision care, and many other health-related costs. Non-qualified purchases may be subject to taxes and penalties. Consult your tax advisor for specific questions about eligible expenses.
To be eligible for a Health Savings Account, you must be enrolled in a high-deductible health plan (HDHP), have no other health coverage that is not an HDHP, not be enrolled in Medicare, and not be claimed as a dependent on someone else's tax return. One of our bankers can help you determine eligibility and get started.
Yes. Your CD will automatically renew at maturity at the current market rate. You will receive a notice before maturity giving you a window to make changes, withdraw funds, or adjust the term. Contact a banker if you would like to discuss your options before renewal.
Yes. Our Star Saver Account is designed specifically for children under 18 and includes a $10 deposit from Brooks Bank, a free t-shirt, and gifts at milestone deposits. For seniors age 60 and older, our Platinum Checking offers no monthly fees and free personalized checks. Talk to a banker about the best option for your family.
Yes. Brooks Bank offers a free AutoSave Transfer Service that lets you set up automatic recurring transfers from your checking account to your savings account. You can schedule transfers for any amount and frequency that works for your budget. Set it up through online banking or ask a banker at any location.
Withdrawal limits vary by account type. Most savings accounts allow 6 free withdrawals per quarter, with a $2.00 fee for each additional withdrawal. Contact a banker for specific details on your account.
An IRA offers tax advantages that a standard savings account does not, making it a stronger tool for long-term retirement savings. However, IRAs have contribution limits and early withdrawal penalties, so they are best suited for money you do not plan to access before retirement. A standard savings account offers more flexibility for short-term needs. Many customers use both. Talk to a banker about building a savings strategy that covers both.
With a Traditional IRA, contributions may be tax-deductible and earnings grow tax-deferred, but withdrawals in retirement are taxed as income. With a Roth IRA, contributions are made with after-tax dollars, but earnings grow tax-free and qualified withdrawals in retirement are also tax-free. The best choice depends on your current income, tax bracket, and retirement goals. A Brooks Bank banker can help you compare.
Yes. Unlike flexible spending accounts (FSAs), your HSA balance rolls over from year to year with no expiration. The money is yours to keep and use for qualified medical expenses whenever you need it, even into retirement.
The minimum deposit to open a CD at Brooks Bank is $1,000. Terms range from 3 to 60 months with competitive fixed interest rates. Contact a banker for current rates and terms.
Short-term CDs (3 to 12 months) give you quicker access to your funds and are useful if you expect to need the money relatively soon. Long-term CDs (up to 60 months) typically offer higher interest rates in exchange for keeping your money deposited longer. Both options are FDIC insured. A banker can help you decide which term fits your goals.
Yes. Brooks Bank is FDIC-insured, which means your deposits are protected up to $250,000 per depositor, per account ownership category. This protection is backed by the full faith and credit of the United States government. Your savings are safe here.
Minimum balance requirements vary by account type. A standard Consumer Savings Account requires just $5 to open. Money market accounts require a $2,500 minimum average balance. Contact a banker for details on specific account requirements.
Have questions or need assistance? Our team is here to help. Whether you’re looking for more information about our services, need support with your account, or want to explore how we can work together, feel free to reach out. Contact us anytime and we’ll get back to you as quickly as possible.
