Important Articles
 

Business Savings

Business Savings, Money Market and CDs

No matter what amount you deposit, put your money to work for you with one of Sunwest Bank’s business savings accounts.

Product Information Business Tiered Super Savings Money Market Business Savings Business Freedom Time Account No Risk (CD)
Monthly Service Charge $15 $15 per Quarter No charge
How To Avoid Monthly Service Charge Monthly service charge waived for maintaining a $2,500 minimum daily balance or more, or $5,000 Average Daily Balance1 or more Quarterly service charge waived for maintaining a $1,000 minimum daily balance or more Not applicable
Minimum Balance to Open $100 $100 $500
Features and Account Benefits Tiered interest and higher interest rates available compared to Business Savings Tiered Interest Unlimited deposits available, one penalty-free withdrawal allowed during the term of the account, automatically renews at maturity after grace period
Transaction Restrictions and Limitations Regulations prohibit more than six (6)2 withdrawals or electronic transfers per month Regulations prohibit more than six (6)2 withdrawals or electronic transfers per month Substantial penalty for early withdrawal may apply after 1 penalty-free withdrawal, during the term

1. Average Daily Balance: The Average Daily Balance is calculated by adding the principal in the account for each day of the month and dividing that figure by the number of days in the month.
2. Six (6) covered transactions per calendar month (including preauthorized debits, online banking transfers, payments to 3rd parties, telephone transfers, and point of sale transactions).