Business Savings Account
Earn interest while maintaining liquidity. Our savings products also provide the convenience of:
-
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.
-
Combined balances to qualify for monthly Maintenance Charge fee waivers.
Business Savings Accounts
|
This is ADA compliance |
BUSINESS SAVINGS |
BUSINESS MONEY MARKET |
|
Monthly Activity Fees
|
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. |
|
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. |
|
Minimum Opening Deposit
|
$500 |
$10,000 |
|
Monthly Maintenance Charge
|
$3 |
$12 |
|
Minimum Daily Balance to Avoid Monthly Maintenance Charge
|
$500 |
$10,000 |
|
Earns Interest
|
Yes
-
» Variable tiered rate*
-
» Compounds daily
-
» Credits monthly
|
Yes
-
» Variable tiered rate*
-
» Compounds monthly
-
» Credits monthly
|
* 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.