Business Savings Account Comparison
|
Features |
Business Savings |
Business Money Market |
Business CD2, 3 |
|---|---|---|---|
|
May suit businesses |
An account earning interest income while maintaining liquidity of funds |
An account with a competitive interest rate which maintains liquidity of funds and with limited check writing capability1 |
An account which is a safe investment with a fixed interest rate through maturity |
|
Interest |
Yes
|
Yes
|
Yes
|
|
Minimum to Open |
$500 |
$10,000 |
$2,500 |
|
Monthly Maintenance Charge |
$5 |
$12 |
N/A |
|
Balance to Avoid |
$500 |
$10,000 |
N/A |
- Transactions from savings accounts may be subject to limitations. Please refer to the Truth in Savings Initial Disclosure provided to you at account opening for details. You may be charged an excess withdrawal fee of $10 for each transaction if you exceed the account limitations.
- We use the daily balance method to calculate the interest on these accounts. This method applies a daily periodic rate to the principal in the account each day. The entire balance accrues interest at the rate for the balance tier of the end-of-day balance. The interest rate and Annual Percentage Yield may change after account opening without notice, at our discretion. Fees can reduce earnings on the account.
- A penalty may be applied for early withdrawal.
No ATM or debit card service allowed.
