Business Savings Account
This free account is a reliable option for businesses of various sizes that need to set money aside for anticipated expenses or expansion.
- Easily transfer money between your business checking and business savings accounts
- All checking and savings activities are reported on one comprehensive monthly statement
- e-Statements are available!
- Federal regulations do limit the number of transfers from the account
Effective Date: Tuesday, December 1, 2020
|Minimum Daily Balance to earn APY||Interest Rate||APY*|
(Student Statement Savings Accounts are available only to students in participating elementary schools in conjunction with School Savings program; there are no monthly service fees.)
*The minimum balance required to earn the stated Interest Rate and Annual Percentage Yield (APY) on the Money Market Account is $2,500. If the balance is below $2,500 for any day, your account will earn our then current NOW Checking Account rate for that day. The minimum daily balance required to open accounts, earn interest and obtain the Annual Percentage Yield on the above accounts is $25 ($1 for Club Accounts and Student Savings). For IRAs, the minimum balance required to open the account and obtain the APY is $100.00.
Interest is compounded monthly and credited on the last business day of each month. Fees could reduce the earnings of the account.
These are variable rate accounts where the interest rate and Annual Percentage Yield may change after the account is opened.