Prepare for Future Business Expenses
Being prepared for future or unexpected business costs can be beneficial. Having savings in place can reduce or eliminate the need to borrow money if something comes up. Plus, it provides peace of mind. We help by providing a number of savings options for business owners who want to stay prepared.
Charter Business Money Market Account
Earn great rates on your savings balances with our Money Market Account! Interest is paid monthly and is accrued on balance tiers that increase at $10,000, $25,000 and $50,000.
Charter Capital Account
Designed for businesses with more cash to devote to savings, Charter Capital earns higher interest rates the higher your balance is. Tiered interest levels start at $50,000, $100,000 and $250,000.
Certificates of Deposit
Don’t want to risk a huge investment and want a guaranteed return? A business CD account is ideal for your business! With terms ranging from 6 months to 5 years, you can allocate money to grow while receiving the maximum FDIC protection.
Account Features Comparison
| Charter Business Money Market | Charter Business Capital Account | Certificates of Deposit | |
|---|---|---|---|
| Minimum to Open | $2,500 | $25,000 | $1,000 |
| Minimum Daily Balance | $2,500 | $25,000 | N/A |
| Monthly Service Charge | $10 monthly service charge if minimum daily balance is not met. | $20 monthly service charge if minimum daily balance is not met. | N/A |
| Transaction Fees | 6 free withdrawals or debits per month, $10 each additional. | 6 free withdrawals or debits per month, $10 each additional. | Fees for early withdrawal. |
| Interest Earned | Yes (tiered) | Yes (tiered) | Yes (see rate sheet) |
| Statements | Free e-Statements. $3 Paper Statements. | Free e-Statements. $3 Paper Statements. | Free e-Statements. $3 Paper Statements. |
Call or visit a Charter Bank office to discuss with a business banking associate which business savings option is right for you!