Compare Savings
It's all about creating a growth mindset. Leverage Bank Independent's savings accounts for your company's short-term needs and long-term planning.
Secure savings growth can strengthen your business's position.
Whether it's a specific savings milestone you have in mind or you want a little extra peace of mind, you'll find accounts geared for all types of goals. And with Bank Independent's competitive rates, your balance is always trending up.
Business Savings
- $100 minimum deposit
- Unlimited deposits allowed
- Three withdrawals per quarter
- $6 quarterly service charge
Smart Money Market
- $10,000 minimum deposit
- Ideal blend of growth and liquidity
- Tiered interest rates
- Six withdrawals per month
- $15 monthly service charge fee per statement cycle
Certificates
- $1,000 minimum deposit
- Features some of our highest savings rates
- Fixed rates
- Various terms
- Subject to early withdrawal penalty
Compare Business Savings Accounts
Compare Accounts
| Account Description | Savings | Smart Money Market | Certificate of Deposit (CD) |
|---|---|---|---|
| Minimum Opening Deposit | $100 | $10,000 | $1,000 |
| Quarterly or Monthly Service Fee | $6 per quarter | $15 per month | None |
| Can I Waive the Service Fee? | Yes | Yes | No |
| Withdrawal Limitations | 3 per quarter1 | 6 per month2 | Penalty for early withdrawal |
| Tiered Interest3 | None |  |
None |
Disclosures
1 A service fee per withdrawal will be assessed after the 3rd withdrawal in a quarter.
2 A service fee per withdrawal will be assessed after the 6th withdrawal in a month.
2 A service fee per withdrawal will be assessed after the 6th withdrawal in a month.
3 The interest rate and annual percentage yield for Independent Money Market Account is variable and will depend upon the applicable rate tier (see below). The interest rate and annual percentage yield for these tiers may change at our discretion. Interest will be compounded and added back to the principal each statement cycle. We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest begins to accrue on the business day you deposit non-cash items. (for example, checks).
If you close your account before the interest is credited, you will receive the accrued interest.
If you close your account before the interest is credited, you will receive the accrued interest.
Tiered Rate Disclosure:
Interest is compounded and credited monthly based on the following interest tiers effective as of 04/01/25.
If your daily balance is $9,999.99 or less, the interest rate paid on the entire balance will be .05% with an annual percentage yield of .05%.
If your daily balance is more than $9,999.99, but less than $50,000.00, the interest rate paid on the entire balance in your account will be .05% with an annual percentage yield of .05%.
If your daily balance is more than $49,999.99, but less than $100,000.00, the interest rate paid on the entire balance in your account will be .05% with an annual percentage yield of .05%.
If your daily balance is more than $99,999.99, but less than $250,000.00, the interest rate paid on the entire balance in your account will be .05% with an annual percentage yield of .05%.
If your daily balance is more than $249,999.99, but less than $500,000.00, the interest rate paid on the entire balance in your account will be .05% with an annual percentage yield of .05%.
If your daily balance is $500,000.00 or more the interest rate paid on the entire balance in your account will be .05% with an annual percentage yield of .05%.
Interest is compounded and credited monthly based on the following interest tiers effective as of 04/01/25.
If your daily balance is $9,999.99 or less, the interest rate paid on the entire balance will be .05% with an annual percentage yield of .05%.
If your daily balance is more than $9,999.99, but less than $50,000.00, the interest rate paid on the entire balance in your account will be .05% with an annual percentage yield of .05%.
If your daily balance is more than $49,999.99, but less than $100,000.00, the interest rate paid on the entire balance in your account will be .05% with an annual percentage yield of .05%.
If your daily balance is more than $99,999.99, but less than $250,000.00, the interest rate paid on the entire balance in your account will be .05% with an annual percentage yield of .05%.
If your daily balance is more than $249,999.99, but less than $500,000.00, the interest rate paid on the entire balance in your account will be .05% with an annual percentage yield of .05%.
If your daily balance is $500,000.00 or more the interest rate paid on the entire balance in your account will be .05% with an annual percentage yield of .05%.