Business Savings Accounts
Plan B, rainy day fund; it doesn’t matter what you call it, having a business savings account can be instrumental in helping your business grow. We offer several solutions to help you save for your business. Take a look at the products here and let us know if you have any questions!
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Check Current Deposit Rates
| Feature | Business Savings | First Rate Money Market Business | Certificate of Deposit (CDs) |
|---|---|---|---|
| Product Description | Low balance, interest-bearing account | Higher interest rate savings | Higher rate time deposits with a fixed interest rate for a specified period of time |
| Minimum Opening Balance | $50 | $2,500 | $1,000 |
| Minimum Balance Requirement | $50 | $2,500 | $1,000 |
| Monthly Maintenance Fee | None if balance requirement is met;otherwise $1 and $0.25/debit | None if balance requirement is met; otherwise $5 and $0.25/debit | None |
| Competitive Interest Rate | Yes – variable rate | Yes – variable tiered rates | Yes – fixed rate |
| Withdrawal Limit | No | No | Any withdrawals made prior to maturity will be assessed an early withdrawal penalty |
| Check Writing Access | No | Yes | No |
| 24-Hr Telephone Banking Access | Yes | Yes | Yes |
| Use for Overdraft Protection | Yes | Yes | No |
| eStatements | Available | Available | Available |