January 7, 2009

Business Statement Savings

At a glance

A secure, FDIC insured, interest bearing savings account.

Features

A variable interest rate that may change weekly, not tied to any index.
Interest is compounded quarterly and paid each February, May August and November.
Withdrawals are generally limited to 6 per month.
No minimum balance.

Fees

No maintaince fee if the account maintains an average daily balance during a month of over $50. Otherwise a monthly maintenance fee of $2.00 is imposed.
An excess withdrawal fee of $1.00 is charged for each withdrawal in excess of 6 per month.