Business Savings Accounts
You might be saving up to expand your inventory, buy a new piece of equipment to help your business run more efficiently, or you could just save up for that next big opportunity. No matter what you’re saving for, we’re here to help keep your money safe and secure until you’re ready to use it.
Requirements to Open a Business Savings Account:
- $100 initial deposit to open the account
- Minimum balance of $200 required
- Interest is compounded and paid quarterly
- Quarterly statements will be mailed one month earlier than the calendar quarter
- Withdrawal limitations and fees may apply depending on your account activity.
The Callaway Bank is an FDIC member and your deposits are insured up to the maximum allowable coverage. Please call a Personal Banker for our current interest rates, specific types of transaction limitations and applicable fees.
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Money Market Accounts
|Signature Money Market||Premium Money Market|
|Minimum Balance to Open||$1,000||$5,000|
|Minimum Balance Required Per Statement Cycle||$1,000||$5,000|
|Monthly Fee||No Monthly Fee if minimum balance is met and there are less than 51 deposited items||No Monthly Fee if minimum balance is met and there are less than 51 deposited items|
|Interest Bearing||Contact a personal banker for current rates.||Contact a personal banker for current rates.|
|Interest Compounded and Credited to Your Account Monthly. Fees May Reduce Earnings|
|First 50 deposited items||$0||$0|
• 51+ deposited items per month
|$0.75 each||$0.75 each|
|Transactions Limitations per month||6 Withdrawals||6 Withdrawals|
|7 or more withdrawals per month, monthly fee||$10||$10|
|If balance falls below required minimum balance, monthly fee||$10||$10|
|Other Fees:||Common Fees||Common Fees|
Long and short-term CDs offer higher earnings than a regular savings account. Manage your earnings by combining your choice of time commitment, deposit amount, and either a variable rate, fixed rate or our popular “Bump” CD. With competitive interest rates, Callaway Bank CD’s is a great way to invest and earn on your extra money. Minimum to open a CD account is $500.
Withdrawal limitations and fees may apply depending on your account activity.