Business Savings
Clarkston State Bank offers three savings account products to provide our business customers a safe place to keep excess funds until a business need arises. You will receive a competitive rate of interest and access to your funds when you need them. The interest rate is tiered based on balances and there are no monthly fees. Put your money to work for you until you need it.
Business Savings
Money Market Plus Savings
High Yield Money Market Plus Savings
Business Savings
The business savings account allows the business to take any excess funds and earn a variable rate of interest. There are no monthly fees, and compounded interest is paid monthly to the account.
Money Market Plus Savings
The money market plus savings account is designed for those business which have more excess funds as it pays a higher rate of interest than the business savings account. There are no monthly fees, and compounded interest is paid monthly to the account.
High Yield Money Market Plus Savings
The high yield money market plus savings account pays the highest rate of interest while keeping your funds liquid. The interest is compounded and paid monthly to the account. This account does require a minimum balance to earn interest and avoid a monthly fee.
Our business savings accounts also provide the following additional FREE services:
- Free Online Banking
- Free Electronic Statements
- Free Automatic Transfers*
- Free Night Deposit Service
- Free Mobile Web Banking App
Account Details
| Features | Business Savings | Money Market Plus Savings | High Yield Money Market Plus Savings |
|---|---|---|---|
| Minimum opening deposit | $100 | $1000 | $100,000 |
| Monthly maintenance fee | None | None | $50 |
| Min balance to waive monthly maintenance fee | Not applicable | Not applicable | $100,000 |
| Interest earned | Variable | Variable | Variable |
| Minimum balance to earn interest | $1,000 | $5,000 | $100,000 |
| Deposit charge | Free | Free | Free |
| Deposited items charge | Free | Free | Free |
Interest Rates
Business Savings
| Interest Rates & Tiers | Daily Balance | Rate | APY |
|---|---|---|---|
| Tier 1 | $0 – $999.99 | 0.00% | 0.00% |
| Tier 2 | $1,000.00 – $24,999.99 | 0.05% | 0.05% |
| Tier 3 | $25,000.00 – $49,999.99 | 0.05% | 0.05% |
| Tier 4 | $50,000.00 & above | 0.05% | 0.05% |
Money Market Plus Savings
| Interest Rates & Tiers | Daily Balance | Rate | Rate |
|---|---|---|---|
| Tier 1 | $0 – $4,999.99 | 0.00% | 0.00% |
| Tier 2 | $5,000.00 – $24,999.99 | 0.05% | 0.05% |
| Tier 3 | $25,000.00 – $49,999.99 | 0.05% | 0.05% |
| Tier 4 | $50.000.00 – $99,999.99 | 0.10% | 0.10% |
| Tier 5 | $100,000.00 & above | 0.15% | 0.15% |
High Yield Money Market Plus Savings
| Interest Rates & Tiers | Daily Balance | Rate | Rate |
|---|---|---|---|
| Tier 1 | $0 – $99,999.99 | 0.00% | 0.00% |
| Tier 2 | $100,000.00 – $249,999.99 | 0.75% | 0.75% |
| Tier 3 | $250,000.00 – $499,999.99 | 1.00% | 1.00% |
| Tier 4 | $500.000.00 – $999,999.99 | 1.10% | 1.11% |
| Tier 5 | $1,000,000.00 & above | 1.15% | 1.16% |
APY = Annual Percentage Yield
The interest rate stated is variable and may change after account opening.
Fees may also reduce earnings.
Rates and balance tiers for checking, savings, CD’s and IRA CD’s are applicable as of the effective date and may be subject to change at Clarkston State Bank’s discretion.