Farmers & Merchants State Bank, based in Archbold, Ohio, is offering 1.40% APY on its savings account. To avail the rate, customers have to open a rewards checking account.
A minimum balance of $50 is required to open a savings account at the bank. The savings account can have a maximum balance of $40,000. The bank, which has almost 20 branches, is offering the rate to only residents of Michigan, Indiana and Ohio.
