Health Savings Account (HSA) | Byline Bank

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Health Savings Account (HSA)

Earn interest and save for future medical expenses.

Why HSA?

  • You decide how much money to set aside for health care costs
  • You control how your HSA money is spent
  • Your employer may contribute to your HSA, but you own the account and the money is yours even if you change jobs
  • Any unused money at the end of the year stays in your account
  • You don’t pay taxes on money going into your HSA.

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Rates are set at the bank’s discretion and may change at any time. Accounts closed during a statement cycle will not earn accrued interest for that period. Interest begins to accrue on the business day of your deposit.

1 The interest rate varies to reflect current market conditions. Interest is compounded and paid monthly on the daily balance. You are limited to 6 pre-authorized transfers which include telephone transfers, online banking transfers, checks, drafts, debit card transactions, or similar orders made to third parties, per statement cycle. If the daily balance falls below $2,500, a monthly service fee of $15 will be charged. On High Yield Money Market Accounts, if the daily balance is $10,000 or more, the interest rate paid on the entire balance in the account will be at the High Yield Money Market account interest rate. If the daily balance falls between $2,500 and $10,000, the interest rate paid on the entire balance in the account will be at the Personal Money Market account interest rate. If the daily balance falls below $10,000, a monthly service fee of $25 will be charged. View current rates.