Business Savings Account
Far East National Bank Business Savings offers great savings plans for cash you need on hand with interest earnings.
Savings Account Comparison
| Account Type |
Business Savings |
FENB Premium Business Savings1
|
Corporate Tiered Money Market |
| Bank the way you want to. |
A great start for a savings program with a low minimum opening
deposit and low balance requirement.
|
A business savings account with high interest rates. | A business savings account that allows you to access your funds
by check.
|
| Minimum opening deposit |
$200 |
$10,000
|
$5,000 |
| Interest calculation |
•Compounded
daily |
•Compounded
daily •Interest credited every month •Tiered rate interest-bearing account |
•Compounded
daily |
| Minimum daily balance to avoid monthly service |
$200 |
$10,000
|
$5,000 |
| Service charge |
$3
per quarter |
$15 per month | $10 |
| Per item fee |
An
excess withdrawal fee of $1.50 will be charged for each withdrawal
in excess of three during a quarter if the daily minimum balance
in your account is less than $1,000. A per item fee of $10 will
be charged for each debit transaction in excess of six during
a month. 2
|
An excess withdrawal fee of $1.50 will be charged for each withdrawal in excess of three during a month. This fee will apply if the daily balance falls below $10,000 during the month. A per item fee of $10 will be charged for each debit transaction in excess of six during a month.3 |
A
per item fee of $10 will be charged for each debit transaction
in excess of six during a statement cycle.4
|
| Statement |
Quarterly |
Monthly
|
Monthly |
| Outstanding features |
•Low
minimum balance requirement |
•Free first order of "Classic® 50" checks1 |
•High
interest rates at high balance tiers with easy access and liquidity |
| 1. A Business Checking Account with a minimum opening deposit of $500 is required to open an FENB Premium Business Savings Account.
|
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|
2.Transfers from a Business
Savings account to another account or to third parties by preauthorized,
automatic, telephone, or computer transfer are limited to six
per month with no transfers by check, draft, debit card or similar
order to third parties. If
the account exceeds the stated transaction limitations, regulations
require that the account be closed or converted to a checking
account.
|
|||
| 3. Transfers from an FENB Premium Business Savings Account to another account or to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per month with no transfers by check, draft, debit card, or similar order to third parties. If you exceed the stated transaction limitations, regulations require that your account be closed. | |||
| 4.Transfers from a Corporate Tiered Money Market account to third parties by preauthorized, automatic, telephone, or computer transfer are limited to six per monthly statement cycle with no more than three by check or similar order to third parties. If the account exceeds the stated transaction limitations, regulations require that the account be closed or converted to a checking account. | |||
| Account Type |
Minimum Opening Deposit |
Minimum Balance to Obtain Annual Percentage Yield
|
Interest Rate |
Annual Percentage Yield* |
| Business Savings |
|
|
|
|
$1,000,000.00
and up
|
$200
|
$1,000,000
|
1.98%
|
2.00%
|
$500,000.00
to $999,999.99
|
$200
|
$500,000
|
1.73%
|
1.75%
|
| $100,000.00
to $499,999.99
|
$200 |
$100,000 |
1.49%
|
1.50%
|
| $10,000.00
to $99,999.99 |
$200 |
$10,000 |
1.19%
|
1.20%
|
| $0.01
to $9,999.99
|
$200 |
$200 |
1.04%
|
1.05%
|
FENB Premium Business Savings |
|
|
|
|
$5,000,000.00
and up
|
$10,000
|
$5,000,000
|
2.32%
|
2.35%
|
$1,000,000.00
to $4,999,999.99
|
$10,000
|
$1,000,000
|
2.23%
|
2.25%
|
$100,000.00
to $999,999.99
|
$10,000
|
$100,000
|
1.98%
|
2.00%
|
$25,000.00
to $99,999.99
|
$10,000
|
$25,000
|
1.64%
|
1.65%
|
$5,000.00
to $24,999.99
|
$10,000
|
$5,000
|
1.39%
|
1.40%
|
$0.01
to $4,999.99
|
$10,000
|
$0.01
|
1.00%
|
1.01%
|
| Corporate Tiered Money Market |
|
|
|
|
| $2,000,000.00
and up |
$5,000 |
$2,000,000 |
1.98%
|
2.00%
|
| $1,500,000.00
to $1,999,999.99 |
$5,000 |
$1,500,000 |
1.83%
|
1.85%
|
| $1,000,000.00
to $1,499,999.99 |
$5,000 |
$1,000,000 |
1.73%
|
1.75%
|
| $500,000.00
to $999,999.99 |
$5,000 |
$500,000 |
1.49%
|
1.50%
|
| $300,000.00
to $499,999.99 |
$5,000 |
$300,000 |
1.29%
|
1.30%
|
| $50,000.00
to $299,999.99 |
$5,000 |
$50,000 |
1.19%
|
1.20%
|
| $0.01
to $49,999.99 |
$5,000 |
$0.01
|
1.04%
|
1.05%
|
| Updated
on: 05/6/08
|
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|
|
|
| *APY - Annual Percentage Yield. APY is accurate as of the updated date referenced above. Rates are subject to change without notice. Fees could reduce earnings on the account. Please check with our branches for updated account information including our list of miscellaneous fees and charges. |
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