Grow Your Business Savings Today
At Roxboro Savings Bank, our business money market savings account rewards higher balances with tiered interest rates so the more you save, the more you earn. For more information on our savings accounts and how the team at Roxboro Savings Bank can help your business grow, contact one of our community bankers today, or come visit one of our locations.
What to Expect:
- Competitive rates that increase at $1,000, $25,000, $50,000, and $150,000
- Just $1,000 to open
- No monthly fee when your average daily balance stays above $1,000
- $5 fee if below $1,000
- $10 fee if below $500
- Interest is compounded daily and credited monthly
- Six free withdrawals or transfers per statement cycle (of any type)
- Unlimited in-person withdrawals and transfers at either RSB location or ATMs
- Monthly statements for easy tracking
- FDIC insured up to $250,000 per depositor
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Business Savings Account Overview
| Feature | Statement Savings | Business Money Market Account |
|---|---|---|
| Minimum Opening Deposit | $50 | $1,000 to open |
| Monthly Fees | No fee if balance over $50, otherwise $3 per quarter | No fee if balance exceeds $1,000; $5 if less than $1,000; $10 if less than $500 |
| Interest Rate Structure | Variable Rate | Tiered interest rates: better rates at $1,000, $25,000, $50,000, $150,000 |
| Interest Compounding & Crediting | Compounded daily, credited quarterly | Compounded daily, credited monthly |
| Withdrawal/Transfer Limits | 9 withdrawals per quarter, $2 each additional | 6 free withdrawals/transfers per statement cycle |
| In-Person Withdrawals/Transfers | Unlimited at RSB locations and ATMs | Unlimited at RSB locations and ATMs |
| Statement Frequency | Quarterly | Monthly |
| Customer Support | 24/7 toll-free line, online banking, and person-to-person inquiries | 24/7 toll-free line, online banking, and person-to-person inquiries |
| FDIC Insurance | Up to $250,000 per depositor | Up to $250,000 per depositor |