Once your business begins to
generate funds over and above its day-to-day operating requirements, it is time to put
those extra dollars to work in an account where they can earn interest and boost your
earning power. 1st National Bank has three business savings accounts designed to
suit your needs.
Commercial Savings
This is the basic savings tool available to businesses. It requires only a small
opening balance, pays a competitive rate and still gives you ready access to your cash.
The interest rate is variable and the Bank is permitted to change it
as business conditions fluctuate. However, on a historical basis, our rates have not
changed often.
You may withdraw money from your account as often as you
wish at any of our branches or ATMs. However, federal regulations permit only six
automatic, preauthorized, telephone or computer transfers per month.
Tiered Money Market Savings - Business Accounts
This account is a great savings option that offers competitive rates, easy access to cash and no lengthy terms or time limits. The higher your daily balance, the more you earn.
TIERS
APY*
Less than $10,000
0.25
$10,000.00 - $24,999.00
0.40
$25,000.00 - $49,999.00
0.58
$50,000.00 - $99,999.00
0.73
$100,000.00 - $499,999.00
0.83
$500,000.00 - $999,999.00
0.93
$1,000,000.00 or more
0.93
Like the Commercial Savings Account, you
may withdraw money as often as you wish at any of our branches or ATMs. However,
federal regulations permit only six automatic, preauthorized, telephone or computer
transfers per month - and no more than three of those may be checks. Maintain a balance of $10,000.00 or greater, each month and the $20.00 monthly maintenance fee is waived
Certificate of Deposits
A Certificate of Deposit provides a higher rate than our two savings accounts, but
requires you to deposit your money for a fixed period of time.
