• Business Savings

Savings

  • Bank Independent is pleased to introduce new accounts that pay rates equivalent to Wall Street alternatives.** These accounts can be selected individually, or as part of an overnight sweep program (see the Premier Money Market below). 
     
      
      Savings  Smart Money Market  Premier Money Market  CD's
       PiggyBank Icon  Smart Money Market Icon  Premier Money Market Icon  CD Icon
    Best For: People just starting out or wanting ready cash People just starting out or wanting ready cash with check access Business seeking Wall Street rates** on FDIC insured funds People without an immediate need for their savings who want to earn more.
    Opening Minimum: $100 $10,000 $1 when serving as an overnight sweep vehicle for Premier Analysis Checking or $ 10,000 outside that program $1,000
    Quarterly or Monthly Service Fee: None if maintain minimum balance, otherwise $6/Quarter  None if maintain minimum balance, otherwise $15/Month None if maintain $10,000 minimum balance or a monthly automatic transfer from a Relationship account, otherwise $14.95 per month. None
    Quarterly or Monthly Balance Requirement to avoid a service fee: $100 $10,000 $10,000 None
    Withdrawal Limitations 6 withdrawals per month* 6 withdrawals per month*** 6 withdrawals per month*** Substantial penalty for early withdrawal
    Interest Tiers No Yes No No

    * A service fee per withdrawal will be assessed after the 3rd withdrawal in a quarter. 
    ** Compare our rates to non-FDIC alternatives by visiting iMoneyNet.com. There you’ll find iMoneyNet Money Fund Averages that reflect the average return of US money market mutual funds. You can also review the top 15 retail funds individually. Either way, you’ll find that our FDIC insured money market accounts and CDs provide competitive returns – with the added safety of FDIC insurance.
    ***A service fee per withdrawal will be assessed after the 6th withdrawal in a month.