Community Bank offers businesses several savings options, as listed below. Check out Today’s Rates to see our most current savings account interest rates.
Save for the future and transfer funds from your checking account. This account may be opened with $100 for any type of business entity. To avoid a $6 quarterly service charge on the account, a minimum balance of $300 must be maintained. Transactions are limited. Interest is calculated daily based on the balance, and paid quarterly.
Money Market Account
Earn a highly competitive yield on short-term investments with our Money Market account. This limited transaction account is the ideal product to maximize your cash flow. With a required minimum balance of $2,500, this account includes limited transactions. Interest rates are tiered, and interest is calculated daily based on the balance, but paid monthly.
Certificates of Deposit
Take advantage of investment terms as short as 90 days or as long as 60 months with Certificates of Deposits (CDs) at Community Bank. Choose the length of time you want to fit your portfolio need. The minimum to open a CD with is $1,000. Interest on CDs with terms less than one year is paid at maturity, while CDs of 12 months or longer receive interest compounded quarterly. CDs automatically renew at maturity for the same term, but at the interest rate that particular term is paying at maturity. An early withdrawal penalty will apply if you withdraw all or part of your funds prior to the maturity date.