Business Savings

BUSINESS SAVINGS
  • Business SavingsMinimum Opening Balance: $100.00
  • Monthly Maintenance Fee: None, when $100 minimum daily balance is maintained. A $2.00 fee will be imposed for each month if the balance falls below $100 any day of the month.
  • Per Item Fee: 6 free withdrawals per month. $1.00 for each withdrawal after 6 during a calendar month.
  • Interest Bearing: Yes
  • Additional Features: Automatic Transfer Service to a checking account to cover an overdraft is available. There will be a $2 fee for each transfer. You must sign up for this service.
BUSINESS MONEY MARKET SAVINGS
  • Minimum Opening Balance: $1000
  • Monthly Maintenance Fee: None, when $100.00 minimum daily balance is maintained. A $2.00 fee will be imposed for each month if the balance in the account falls below $10.00 any day of the month.
  • Per Item Fee: 6 free withdrawals per month. $1.00 for each withdrawal after 6 during a calendar month.
  • Interest Bearing: Yes
  • Additional Optional Features: Automatic Transfer Service to a checking account to cover an overdraft is available. There will be a $2.00 fee for each transfer. You must sign up for this service.

The following terms apply to all Interest Bearing Savings Accounts:

  • Interest begins to accrue on the business day you deposit non-cash items.(For example, checks)
  • We use the daily balance method to calculate the interest in your account. This method applies a daily periodic rate to the principal in the account each day.
  • Interest will be compounded every month, interest will be credited to your account every month.
  • The interest rate and annual percentage yield on your account may change. At our discretion, we may change the interest rate on your account at any time.
  • If you close your account before interest in credited, you will not receive the accrued interest.
  • Withdrawals or transfers from a Savings account to another account or third parties by preauthorized, automatic, telephone, or computer transfers are limited to six per month. No more than 3 of the 6 may be made check, draft, debit card or similar means.
  • Today’s rate is available upon request.