Merchants Bank


We're here to be a trusted financial partner for you, supporting the communities we serve not just as a bank but a neighbor as well. We are committed to building strong communities together, because when the community thrives, we do too.

As your local bank, it's our responsibility to give back to the communities we serve. We take pride in our community involvement and aim to give back in every way we can, including thousands of staff volunteer hours each year and monetary contributions to local organizations. When you bank with Merchants, you are a part of more than a bank, you are a part of our community.

HSA Program Features

FDIC or NCUA Insured:
Min Balance to Open:
  • Debit Card
  • Checks
  • Investment Options

HSA Interest Rates

Interest rates for various balance tiers
$0.00 - $5,000.00 0.02% APY
$5,000.01 - $10,000.00 0.04% APY
$10,000.01 - $15,000.00 0.08% APY
$15,000.01 - $25,000.00 0.10% APY
$25,000.01+ 0.13% APY
Last checked on: 03-31-2022. Rates may not be current, please check the provider's website for the latest rates.


Monthly Maintenance Fee Unknown
Account Opening Fee Unknown
Account Closing Fee Unknown

HSA Investment Options

Mutual Fund Platform: close   Self-Directed Brokerage: close   CDs: check_box   Other: close

CDs Details

We offer Certificate of Deposit* (CD) accounts for regular savings, retirement accounts (IRAs), and Health Savings Accounts (HSAs):
  • Start saving today with a minimum deposit of $500.
  • Flexible terms starting from just three months.

Contact Information

General Information

Address 102 East Third Street
Winona, MN 55987

Customer Service

Phone Number 800-944-6285