Grow your surplus business funds at a competitive rate with our Commercial Savings account. A smart, low-risk investment option brought to you by your local commercial banking experts, our Commercial Savings account helps small businesses meet their basic savings needs. And you can maintain access to your funds with convenient electronic services, such as mobile banking.
Details
- Best for small businesses with basic savings needs
- Grow excess funds with competitive interest compounded and credited quarterly
- No monthly service charge with a minimum daily balance of $500 or more
- $3 monthly service charge if minimum daily balance drops below $500
- Online Banking and Cash Management available
- Free e-Statements
- No minimum deposit to open
- Beneficial owner info required when you apply
Normal account opening criteria apply.
Interest Rate Information, Frequency of Interest Rate Change and Determination of Interest Rate – Your interest rate and annual percentage yield may change at any time at our sole discretion.
Compounding and crediting frequency – Interest will be compounded quarterly and will be credited to the account quarterly.
Minimum balance to avoid imposition of fees – A service charge fee of $3.00 will be imposed every month if the balance in the account falls below $500.00 any day of the month.
Daily balance computation method – We use the daily balance method to calculate the interest on your account. This method applies a daily periodic interest rate to the principal in the account each day.
Accrual of interest on non-cash deposits – Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).
