Just like the Five Star free business checking account, there is only one business savings account to choose from and it’s a great option for your business. It is also insured by the NCUA up to $250,000.
The Five Star business savings account is a high-yield account that empowers businesses to save for their future. You can open an account with an initial $5 deposit and a $5 minimum monthly balance. This account earns dividends too. When you use a free business checking account along with a business savings account, you can boost your dividends even higher!
Here’s how it works:
|LEVEL||SAVINGS ACCOUNT APY*||CHECKING ACCOUNT APY*|
|Star Level (Smart)
Open a Business Savings Account (Smart)
|Bright Star (Brighter)
Open a Business Savings AND Business Checking Account (FREE Transaction processing for up to 200 items, $0.15 per item thereafter)
|Five Star Level (Brilliant!)
Business Savings, Business Checking plus 1, 2, 3, or 4 additional qualifying services.
|0.35%(1), 0.60%(2), 0.85%(3), or 1.11%(4)||0.50%|
Advanced Business Checking
Designed with larger volume accounts in mind, for a small monthly fee ($9 per month) you receive:
- Free processing for up to 300 items (checks and deposits) and $0.15 per item thereafter
- Interest on average daily checking balance paid according to tiered rates
|AVERAGE MONTHLY BUSINESS SAVINGS AND CHECKING BALANCE
(Balance of each separately determines rate)
|SAVINGS ACCOUNT APY*||CHECKING ACCOUNT APY*|
|$0 – $1,999.99||0.10%||0.00%|
|$2,000.00 – $9,999.99||0.25%||0.15%|
|$10,000.00 – $49,999.99||0.40%||0.30%|
|$50,000.00 – greater||0.60%||0.50%|
APY is Annual Percentage Yield.
Account is subject to a service charge if dormant for six months, below a $50 balance, and you have no other active account or loan.