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Money Vest Business Savings
is a tiered savings account in which the interest rate increases with
each higher balance level. The minimum balance to open a Money
Vest Business Savings Account is $2,500. There are four tier levels for
this service:
| Balance Level |
| $2,500 or Less. |
| Over $2,500 but Less than $15,000. |
| At or Over $15,000 but Less than $50,000. |
| At or Greater than $50,000. |
Interest Rate Tiers
The interest rate and annual percentage yield on the Money Vest
Business Savings account varies. The rate will be adjusted on the first day
of each calendar quarter. Interest is compounded daily and is earned
on collected balances from the day of deposit to the day withdrawal. Earnings
will be posted to the account after the close of business on the
last day of each quarter.
Withdrawals
You can make up to six withdrawals per month. A $1.00 charge per transaction will be imposed on withdrawals over 6 per month.
Statements
Statements will be mailed monthly and will show all transactions, including every deposit, withdrawal or transfer made, any service charges or other deductions, and any interest paid into your account during that period.
To request information on these or any of our business products, click
here. We also invite you to visit one of our branches and talk to a customer service representative.
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