Business Savings

businessmanBusiness Savings

  • $100 minimum deposit to open
  • $1 monthly service charge if balance falls below $10
  • 6 withdrawals per month, $1 service charge for each withdrawal over 6
  • Interest is paid in May & November

Business MMDA

  • $5000 minimum deposit to open
  • Interest bearing with $500 minimum balance
  • Interest is tiered and subject to change weekly
  • $5 monthly service charge if balance falls below $5000
  • $300 minimum withdrawal amount per transaction
  • Maximum 6 withdrawals per month, all may be by check
Business Certificate of Deposit

A certificate of deposit (CD) is a time deposit,  similar to savings account.  A CD has a specific, fixed term (often three months, six months, or one to five years), and, usually, a fixed interest rate.  It is intended that the CD be held until maturity, at which time the money may be withdrawn together with the accrued interest.