Business Savings
Regular Business Savings Account
|
Opening Deposit |
Minimum Balance |
Monthly Service Fee |
Interest |
|
$100 |
$500 |
$3/month $0/$500 |
Yes |
This account is not a consumer account subject to Truth in Savings
Monthly account service charge $3.00 ( To avoid monthly service charge, maintain a minimum monthly balance of $500.00)
Frequency or rate changes: At our discretion, we may change the interest rate and annual percentage yield on your account at anytime
Compounding and crediting frequency: Interest will be compounded daily. Interest will be credited to your account quarterly.
Daily balance computation method: We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day
Accrual of interest on non-cash deposits (for example, check): Interest accrues on your daily available balance
If you close your account before interest is credited, you will not receive the accrued interest
Account closing fee $25.00, if closed within 181 days of opening
For additional fees, see Miscellaneous Fees and Charges.
Business Money Market Account
|
Opening Deposit |
Minimum Balance |
Monthly Service Fee |
Interest |
|
$100 |
$2,000 |
$8/month $2,000/min |
Yes |
This account is not a consumer account subject to Truth in Savings.
Minimum balance to obtain the annual percentage yield disclosed: Tiered rates based on balance.
Monthly account service charge $8.00 ( To avoid monthly service charge, maintain a minimum daily balance of $2,000.00).
Frequency or rate changes: At our discretion, we may change the interest rate and annual percentage yield on your account at anytime.
Compounding and crediting frequency: Interest will be compounded daily. Interest will be credited to your account monthly.
If you close your account before interest is credited, you will not receive the accrued interest.
Daily balance computation method: We use the daily balance method to calculate the interest on your account.
This method applies a daily periodic rate to the principal in the account each day.
Accrual of interest on non-cash deposits (for example, check): Interest accrues on your daily available balance.
Account closing fee $25.00, if closed within 181 days of opening.
For additional fees, see Miscellaneous Fees and Charges.
For complete listing of services, rates, fees, and restrictions, please contact any customer service representative.