When you’re trying to grow your savings, it’s natural to focus on one big question: What’s the rate? You’ll see plenty of searches for CD rates, savings account interest rates, and money market rates—and for good reason. The rate you earn does matter.

But in 2026, there’s more to growing your savings than just chasing the highest number. Understanding how interest works and choosing the right mix of savings accounts can help you make steady progress toward your goals, even as rates change over time.

At The Farmers Bank, we offer several savings options designed for different stages of life and different types of goals. Here’s a simple look at how interest works—and what you can control.

How Interest Helps Your Savings Grow

When you keep money in a savings account that pays interest, the bank pays you for keeping your funds on deposit. Over time, that interest can help your balance grow without any extra effort on your part.

Two key ideas:

• Rate/APY: The higher the rate, the more your money can earn over the same period of time.
• Time: The longer you keep money in an interest-earning account, the more opportunity it has to grow.

You can’t control everything about interest rates, but you can control how early you start saving, how consistently you add to your balance, and which accounts you use.

Everyday Savings: A Foundation You Can Build On

A Regular Savings Account is a great starting point. It gives you a safe, convenient place to keep your emergency fund and short-term savings while earning interest.

Learn more about our Regular Savings Account

This is often the best home for your first $500–$1,000 in savings—money you may need quickly for car repairs, medical bills, or other unexpected expenses.

Earning More on Higher Balances

Once you’ve built a solid foundation, you may want your larger balances to work a bit harder.

An Advantage High Yield Account is designed for savers who maintain higher balances and want a more competitive rate than a standard savings account typically offers.

Explore the Advantage High Yield Account

A Money Market Account can also be a smart option if you want to balance flexibility and earnings. Money market accounts often reward higher balances with better rates while still allowing access to your funds.

See details on our Money Market Account

These types of accounts can be useful for medium- to longer-term goals where you want to keep your money accessible, but also growing.

Locking In a Rate with Certificates of Deposit

If you know you won’t need a portion of your savings for a set period of time, a Certificate of Deposit (CD) can help you lock in a rate for the length of the term.

Learn more about Certificates of Deposit

CDs are often used for planned expenses such as future tuition, a large trip, or a home project. Because you commit to leaving your money on deposit until maturity, CDs typically offer a fixed rate and predictable earnings for that time period.

Helping Young Savers Benefit from Interest Early

Interest doesn’t just help adults—starting early can make a big difference for kids and teens, too. A Student Savings Account gives young savers a safe place to keep birthday money, earnings, and allowance, and to see how interest gradually grows their balance.

Explore our Student Savings Account

Opening an account for a child or student can turn everyday moments into lessons about saving, patience, and goal-setting.

What You Can Control in 2026

While interest rates will change over time, you still have a lot of control over your savings journey this year:

• Start saving as soon as you can—even small amounts add up.
• Contribute regularly, not just when it’s convenient.
• Choose accounts that match your goals and timeline.
• Review your options periodically as your life and savings grow.

The Farmers Bank is here to help you build a savings strategy that fits your 2026 goals, from everyday savings to higher-yield accounts, money markets, CDs, and student savings. If you’d like help deciding which mix of accounts is right for you, stop by any of our Indiana locations or contact us to talk with a banker about your options.