Business Savings Account
Earn interest while maintaining liquidity. Our savings products also provide the convenience of:
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Unlimited 24-hour access to the Cathay Service Hotline 1-800-9CATHAY (1-800-922-8429), to check balances, review deposits and to determine if recent checks have cleared.
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Combined balances to qualify for monthly Maintenance Charge fee waivers.
Business Savings Accounts
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This is ADA compliance |
BUSINESS SAVINGS |
BUSINESS MONEY MARKET |
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Designed for... |
Businesses seeking interest income while maintaining liquidity of funds. |
Businesses seeking a competitive interest rate while maintaining liquidity of funds and with limited check writing capability. |
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Minimum Opening Deposit
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$500 |
$10,000 |
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Monthly Maintenance Charge
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$3 |
$12 |
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Minimum Daily Balance to Avoid Monthly Maintenance Charge
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$500 |
$10,000 |
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Earns Interest
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Yes
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» Variable tiered rate1
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» Compounds daily
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» Credits monthly
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Yes
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» Variable tiered rate1
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» Compounds monthly
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» Credits monthly
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Cathay Business Online Banking
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Available at no additional cost |
Available at no additional cost |
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Business Mobile Banking2
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Available at no additional cost |
Available at no additional cost |
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Monthly Activity Fees
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An excess withdrawal fee of $10.00 will be charged for each item in excess of the federally regulated limitations (no more than 6 transfers per each 4 week period). Withdrawals made in person are unlimited. |
1 We use the daily balance method to calculate the interest on these accounts. This method applies a daily periodic rate to the principal in the account each day. The entire balance accrues interest at the rate for the balance tier of the end-of-day balance. The interest rate and Annual Percentage Yield may change after account opening without notice, at our discretion. Fees can reduce earnings on the account.2Must be approved and established in Cathay Business Online Banking before service(s) are accessible in Cathay Business Mobile Banking. Message and data rates may apply.