Our Business Savings Account is ideal for smaller businesses that need to move funds often and require a low minimum balance. If you are looking for higher yields, the Business Preferred Share Account is a good choice.
Business Savings Account
A Business Savings Account is required to access any other business services. A minimum deposit of $5.00 is required to open this account.
The account features:
Minimum deposit of $5.00 to establish an account
Interest earned on daily balances equal to or greater than $250.00
Interest compounded monthly and credited monthly
No monthly service charge
This account is required to access all other business services
Business Preferred Share Account
If you can maintain larger balances in your account, you’ll want to take advantage of this account as the interest rates are higher.
With this account, you can expect:
Minimum deposit of $2,500.00 to establish this account and to earn interest
Minimum daily balance of $2,500.00 required to avoid a $25.00 monthly service charge
Interest compounded and credited monthly
Subject to FRB Regulation D transaction withdrawal rule (3/6) per month (see fee schedule for rule)
Once you’ve opened your Business Savings or Business Preferred Share Account, don’t forget to also set up a Business Checking Account to help with your day-to-day business transactions!
If you’re looking for additional ways to save for your business, check out our Business Share Certificates, which also offer higher interest rates on account minimums of $2,500.00 or more.