Business Savings
Working on building your savings? Let your balance work for you when you open a business savings account with Altabank.
Compare Our Business Savings and Money Market Accounts
Our Business Savings and Business Money Market accounts offer our highest-interest-bearing rates specifically for business customers who have low transaction activity and high balances. If you don’t need access to your savings for at least three months, another savings option is a Certificate of Deposit (CD). For quicker access to your funds, add a Business Checking Account to your suite. Use the chart below to determine which business savings account is the best fit for your company.
| Features | Business Savings | Certificate of Deposit (CD) | ICS® Accounts |
|---|---|---|---|
| You need... | A simple, interest-bearing savings account. | An account that is meant to be untouched for a set period of time and earns high interest rates. Terms range from 3 months to 5 years with a fixed rate. | Deposit or savings account solutions that provide multimillion dollar FDIC insurance coverage. |
| Minimum to open | $100 | $10 or $500 | $40,000 |
| Minimum daily balance to avoid below-minimum-balance fee | $100 | N/A | N/A |
| Limitations | A fee is assessed when you exceed a predetermined number for certain types of withdrawals. | Early withdrawal penalties apply. | Early withdrawal penalties apply to CDARS®. |
| Interest Bearing | Yes | Yes | Depends on account type |
Account Highlights
- Easy-to-use online banking portal
- 24/7 account support
- Fraud prevention services
- Low ATM withdrawal fees
Other fees such as overdraft, nonsufficient funds (NSF) fee, continuous overdraft, etc. may apply. See fee schedule for details.