Business Investor Savings
How does an Investor Savings account differ from a traditional savings account?
|Category||Investor Savings||Basic or Preferred Savings|
|Minimum Balance1||$25,000||$50 (Basic) or $1,000 (Preferred)|
|Check Writing2||Up to 3 per Month||None|
|Interest Rate3||up to 0.75% A.P.Y.||0.25% A.P.Y.|
|Paper Statements||Mailed Monthly||Monthly, if Combined with a Checking Account|
Investor Savings Rates:
|$0 to $24,999.99||0.40%|
|$25,000 to $99,999.99||0.40%|
|$100,000 to $249,999.99||0.40%|
|$250,000 to $999,999.99||0.60%|
1 $5 per month if the balance on a Basic Savings account falls below $50; $10 per month if the balance on a Preferred Savings account falls below $1,000; and $25 per month if the balance on an Investor Savings account falls below $25,000. Fees could reduce earnings on the account.
2 Investor Savings accounts allow unlimited deposits or withdrawals in person. Six transfers or pre‐authorized withdrawals are allowed per month, three of which may be made by check.
3 Annual Percentage Yield. Interest rates subject to change daily. The Annual Percentage Yield (APY) is accurate as of 4/1/2020.
Important information about procedures for opening a new account
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: when you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.