Business Savings Accounts
Bank of Travelers Rest offers accounts designed to help your business maximize money saved for the future. Whether you are saving for an expansion, preparing to change equipment, or saving for an unforeseen future need, our Relationship Bankers can identify your savings goals and recommend the accounts that best meet those needs.
Product Comparison Chart
| Features | Business Savings | Business Premium Money Market | Certificates of Deposit | Prime Rate Certificates of Deposit |
|---|---|---|---|---|
| Minimum Opening Deposit | $50 | $1,000 | $1,000 | $1,000 (additional deposits allowed) |
| Maintenance Fee per Statement Cycle | $5 fee waived with $200 daily minimum balance. | $10 fee waived with $1,000 daily minimum balance. | N/A | N/A |
| Interest Earned | Interest earned on balances of $25 or more. | Interest earned on balances of $1,000 or more, with special tiered rates. | Interest rates determined by time and amount. | Interest rate varies based on the Prime Rate¹. |
| Withdrawal Limitations | Six per statement cycle, then $3 per withdrawal*. | Six per statement cycle, then $10 per withdrawal*. | Penalties may apply | Penalties may apply |
Disclosures
*Federal Regulation limits the number of withdrawals to 6 per statement cycle. Additional limits may apply per your account disclosures. Excessive withdrawals from Business Savings or Business Premium Money Market accounts may result in the account being converted to an interest-bearing transaction account.
1. Prime Rate as defined in The Wall Street Journal.
Certificates of Deposit
Each business has its own unique set of savings goals. Whether you are saving for a long-range plan or your need is more short-term, let Bank of Travelers Rest review CD terms and rates with you. Our Relationship Bankers and Customer Service Representatives can provide the options you have to maximize your savings plan.