Business Money Market
Are you looking to earn money market interest rates on your daily balances? Consider our Business Money Market account. Open your account with a $5,000 deposit; there are no service charges with a $5,000 minimum daily balance.
- Earns interest monthly
- Tiered interest rate rewards higher balances
- 6 free withdrawals per month
- Unlimited withdrawals made in person, by messenger, by mail, by ATM or to one of our loans.
- Monthly statements
Contact i-bank for tier levels and current interest rates and annual percentage yields for each tier.
Terms: You must deposit at least $5,000 to open this account. A service fee of $15.00 will be imposed every month if the balance in the account falls below $5,000 any day of the month. The interest rate for this account is variable. The interest rate and annual percentage yield for your account depend upon the applicable rate tier. The interest rate and annual percentage yield for these tiers may change. Interest will be compounded monthly. Interest will be credited to the account monthly. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. During any statement cycle, you may not make more than 6 withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order to a third party. If you exceed the transaction limitations you will be charged $15.00 fee for each transaction over your limit. Fees could reduce the earnings on the account. Must provide a business license and a copy of the letter from the IRS issuing the tax ID number.