Business Savings Accounts
Bank of Travelers Rest offers a variety of business accounts for every lifestyle. Review the accounts below and when you find one that meets your business needs, please contact us or feel free to visit any of our convenient locations to speak with a Customer Service Representative.
| BUSINESS Savings | PREMIUM Money Market | CERTIFICATES of Deposit | FLEX 24 Certificate of Deposit | PRIME RATE Certificate of Deposit | |
|---|---|---|---|---|---|
| Minimum Opening Deposit | $50 | $1,000 | $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 | None | None | None |
| 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 | Fixed rate with a one time option to change interest rate during original term | Interest rate varies based on the prime rate1 |
| Withdrawal Limitations | 6 per statement cycle, then $3 per withdrawal* | 6 per statement cycle, then $10 per withdrawal* | Penalties may apply | Penalties may apply | Penalties may apply |
*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 Premium Money Market accounts may result in the account being converted to a NOW account, which is set up for transactional purposes.
1. Prime Rate as defined in The Wall Street Journal.