Give your business savings a boost.
A good business plan includes creating an emergency fund to address unexpected expenses. From a simple savings account to ones that pay higher rates for larger balances, we're the Massachusetts and Rhode Island bank that helps you find the right Savings, Money Market or CD for your business goals.
| BUSINESS SAVINGS |
PREMIER BUSINESS MONEY
MARKET SAVINGS
|
|
|---|---|---|
| Monthly Service Fee | $5 | $10 |
| Minimum daily balance to waive monthly maintenance fee |
$1,000 |
$2,500 |
| Free transactions per month1,2 | 20 $0.50 per transaction over the free transaction limit. |
50 $0.50 per transaction over the free transaction limit. |
| Check Writing² | N/A | Yes |
| Tiered Interest Rates | N/A | Yes |
1. Includes debits, credits, scheduled transfers, and items deposited per monthly statement cycle. $0.50 per transaction over the free transaction limit.
2. You may make an unlimited number of withdrawals or transfers from your savings account(s) and/or money market account(s) so long as they are done in person at one of our ATMs or branch locations. However, federal regulations limit your ability to make certain types of withdrawals and transfers from these accounts. Under these regulations, any checks, drafts or debit card transactions (or similar payment orders) drawn on your money market account that are payable to third parties (no such transactions are permitted on your savings accounts), as well as any transfers or transactions from your money market or savings account to another of your accounts with us or to third parties by pre-authorized or automatic means, personal computer (including online banking or bill payment services) or telephone (including facsimile or data transmission) are considered "Limited Transactions." You are limited to a total of six(6) Limited Transactions from your money market and savings account per statement cycle period. We count check transactions on your money market account on the day the check is presented to us for payment, regardless of when you may have written it (including if it was written in a prior statement cycle). If you exceed your Limited Transaction limit on your Money Market Savings account, we may assess you an Excess Transaction Fee for each Limited Transaction over the limit. Additionally, if you exceed your Limited Transaction limit on a regular basis, we may close your money market or savings account, or change this type of account to a different deposit account you are eligible to maintain.
2. You may make an unlimited number of withdrawals or transfers from your savings account(s) and/or money market account(s) so long as they are done in person at one of our ATMs or branch locations. However, federal regulations limit your ability to make certain types of withdrawals and transfers from these accounts. Under these regulations, any checks, drafts or debit card transactions (or similar payment orders) drawn on your money market account that are payable to third parties (no such transactions are permitted on your savings accounts), as well as any transfers or transactions from your money market or savings account to another of your accounts with us or to third parties by pre-authorized or automatic means, personal computer (including online banking or bill payment services) or telephone (including facsimile or data transmission) are considered "Limited Transactions." You are limited to a total of six(6) Limited Transactions from your money market and savings account per statement cycle period. We count check transactions on your money market account on the day the check is presented to us for payment, regardless of when you may have written it (including if it was written in a prior statement cycle). If you exceed your Limited Transaction limit on your Money Market Savings account, we may assess you an Excess Transaction Fee for each Limited Transaction over the limit. Additionally, if you exceed your Limited Transaction limit on a regular basis, we may close your money market or savings account, or change this type of account to a different deposit account you are eligible to maintain.
In addition to our Savings and Money Market accounts, we also offer CDs
Certificate of Deposit accounts are a great option for small businesses because they allow your company to get the security of fixed returns at competitive interest rates. We'll work with you to determine which of our many CD options best suits your needs. It takes as little as $1,000 to open a CD, and you can choose from terms ranging from 31 days to five years.
