Business Savings

Life can take an unexpected turn, so can your business. Loyal Trust Bank’s business savings can assist your business putting money away for unexpected expenses, big purchase, or future goals.

 

Business Savings

  • Opening deposit: $100
  • Minimum balance requirement: $2,500 average monthly balance to avoid monthly service charge
  • Interest: Yes, Tiered APY/Interest Rate1. Compounded daily, credit quarterly
  • Withdrawal & transfers: Limited to six (6) per month. An excess withdrawal fee of $5 will be charged for each debit in excess of the six (6)2
  • Complimentary eStatement and Quarterly paper statement3
  • Online Banking and online bill pay available at no additional charge
  • Complimentary mobile App & mobile deposits4 services

Commercial Money Market Savings

  • Opening deposit: $500
  • Minimum Balance Requirement: $5,000 average monthly balance to avoid monthly service charge
  • Interest: Yes, Tiered APY/ Interest Rate5. Compounded daily, credit monthly
  • Withdrawal & transfers: Limited to six (6) per month. An excess withdrawal fee of $5 will be charged for each debit in excess of the six (6)2
  • Complimentary monthly eStatement with check image view6
  • Complimentary First Order of Checks7
  • Loyal Trust Bank Debit Card
  • Online Banking and online bill pay available at no additional charge
  • Complimentary mobile App & mobile deposits4 services

Business Certificate of Deposit

  • CD Terms: 6 Mo.; 12 Mo.; 24 Mo.; 36 Mo.; 48 Mo.; 60 Mo.
  • Opening deposit: $1,000
  • Interest: Yes, Tiered APY/ Interest Rate5
  • Early Withdrawal Penalty: Yes8
  • Grace Period after maturity: 10 days
  • Maturity Notice: Yes
  • Automatic Renewal: Yes9,10
Business Checking Products Comparison
AccountsMinimum Opening BalanceAccount FeeTransactionsInterest and Compounding
Business Savings $100 $10 per month if average monthly collected balance falls below $2,500 $5.00 per withdrawal transaction in excess of six (6) per month Tiered beginning at $.01 Compounding Daily and Credited Quarterly
Commercial Money Market $500 $10 per month if average monthly collected balance falls below $5,000 $5.00 per withdrawal transaction in excess of six (6) per month Tiered beginning at $.01 Compounding Daily and Credited Monthly
Business Certificate of Deposit $1,000 Early Withdraw Penalty Fixed for term Terms range from 6 month to 5 years

1 Tiered APY/Interest Rates are based on deposit balance. Interest compounded daily, credited quarterly

2 Withdrawal & transfers to another account or to third parties by pre-authorized, automatic, telephone or computer transfers are limited to six (6) per month, with no more than six (6) by similar order to third parties. An excess withdrawal fee of $5 will be charged for each debit in excess of the six (6)

3 Sign up online banking with Quarterly eStatement to avoid $3 paper statement charge

4 Mobile Deposit Limit: $2,500 per deposit and $5,000 daily total deposit. Please refer to Mobile Deposit disclosure and terms and conditions for funds availability

5 Tiered APY/Interest Rates are based on deposit balance. Interest compounded daily, credited monthly

6 Sign up online banking with Monthly eStatement to avoid $3 paper statement charge

7 Complimentary first order of Loyal Trust Bank Custom checks

8 CD withdrawal or closure prior to maturity: CD term less than 12 months or less, 30 days interest penalty; CD terms over 12 months 90 days interest penalty. Withdrawal penalty may reduce earning and principle balance

9 Auto renewal rate is based on the interest rate bank offered at the maturity period; CD will auto renewal into the same term as the matured CD

10 Certificate deposit interest may be credited to the CD or other Loyal Trust Bank savings or checking account

Please contact your Loyal Trust Bank branch or relationship manager for more information.

678-783-8018

 
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