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Save for Any Reason

An Easy Way to Save for Any Reason

Having more money is better than having less money.  You may be thinking of a vacation, a new car, an addition to your house, your retirement or just the peace of mind that comes with having a larger balance in your savings account.  There is no easier way to save than with an automatic savings plan. 

How much do you want to save?

The choice is up to you.  Here are a couple of charts showing how much you have to save monthly to reach your goals.

Saving for short-term goals vacation, larger car down payment, or just accumulating more.

Amount you want to save

Monthly savings needed over

6 months

12 months

18 months

24 months

30 months

36 months

$2,500

$414

$205

$136

$101

$80

$66

$5,000

$828

$411

$272

$202

$161

$133

$7,500

$1,242

$616

$408

$304

$241

$199

$10,000

$1,656

$822

$544

$405

$321

$266

$25,000

$4,141

$2,055

$1,360

$1,012

$804

$665

(Assumes an earning rate of 3%.)

Saving for longer-term goals college for a child, retirement, or just accumulating more.

Amount you want to save

Monthly savings needed over

5 years

10 years

15 years

20 years

25 years

30 years

$50,000

$735

$322

$187

$122

$84

$60

$100,000

$1,470

$643

$374

$243

$168

$120

$250,000

$3,676

$1,610

$935

$608

$420

$300

$500,000

$7,352

$3,220

$1,871

$1,216

$840

$601

$1,000,000

$14,705

$6,440

$3,741

$2,433

$1,679

$1,202

(Assumes an earnings rate of 5%.)

Start Your Automatic Savings Today
There is no easier way to save than with an automatic savings plan. If you are already receiving direct deposit for your paycheck, MutualBank can transfer the amount you select each payday or month. And enrolling is easy. Just stop by one of our many locations and start saving today.  Go ahead...live a better life!

Contact a Representative Today

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Some of our customers are receiving texts like the one pictured below or are receiving phone calls asking for their account information. If you do receive this text or any communication asking for your account information, DO NOT click on the link or provide any of your account information. Only log into your account via bankwithmutual.com. If you have received this text and have provided your account information, please contact us immediately (800-382-8031) so we can take measures to protect you.

Please be aware this is not a data breach. The texts are going to all Muncie cell phone numbers in a range. So far we are aware of 765-716-xxxx 765-717-xxxx and 765-729-xxxx and 765-724-xxxx. It is going to all of the numbers, not just MutualBank customers.

Wednesday, February 10, 2016

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Save for Any Reason

An Easy Way to Save for Any Reason

Having more money is better than having less money.  You may be thinking of a vacation, a new car, an addition to your house, your retirement or just the peace of mind that comes with having a larger balance in your savings account.  There is no easier way to save than with an automatic savings plan. 

How much do you want to save?

The choice is up to you.  Here are a couple of charts showing how much you have to save monthly to reach your goals.

Saving for short-term goals vacation, larger car down payment, or just accumulating more.

Amount you want to save

Monthly savings needed over

6 months

12 months

18 months

24 months

30 months

36 months

$2,500

$414

$205

$136

$101

$80

$66

$5,000

$828

$411

$272

$202

$161

$133

$7,500

$1,242

$616

$408

$304

$241

$199

$10,000

$1,656

$822

$544

$405

$321

$266

$25,000

$4,141

$2,055

$1,360

$1,012

$804

$665

(Assumes an earning rate of 3%.)

Saving for longer-term goals college for a child, retirement, or just accumulating more.

Amount you want to save

Monthly savings needed over

5 years

10 years

15 years

20 years

25 years

30 years

$50,000

$735

$322

$187

$122

$84

$60

$100,000

$1,470

$643

$374

$243

$168

$120

$250,000

$3,676

$1,610

$935

$608

$420

$300

$500,000

$7,352

$3,220

$1,871

$1,216

$840

$601

$1,000,000

$14,705

$6,440

$3,741

$2,433

$1,679

$1,202

(Assumes an earnings rate of 5%.)

Start Your Automatic Savings Today
There is no easier way to save than with an automatic savings plan. If you are already receiving direct deposit for your paycheck, MutualBank can transfer the amount you select each payday or month. And enrolling is easy. Just stop by one of our many locations and start saving today.  Go ahead...live a better life!

Contact a Representative Today

Back to Education Resources

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