Business Savings
Business Savings and Certificate of Deposit Options
| Account Name | Monthly Maintenance Fee | Minimum Balance | Interest Bearing | Statements | Additional Features |
|---|---|---|---|---|---|
| Business Statement Savings |
$2.00, waived with minimum balance |
$100.00 | Yes | Quarterly | Learn More |
| Business Money Market Savings |
$2.00, waived with minimum balance |
$2,500.00 | Yes | Monthly | Learn More |
| Certificates of Deposit (CDs) |
None | $500.00 | Yes | Based on maturity |
Learn More |
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All RiverWood savings accounts include:
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Business Statement Savings
An affordable basic savings plan.
- $100.00 minimum deposit to open account.
- $2.00 monthly service fee. Fee waived with $100.00 minimum daily ledger balance.
- Competitive rates paid on daily collected balance.
- Earns daily interest, paid quarterly. Quarterly statements or monthly with combined statement.
- Withdrawals or transfers available in person, at an ATM with an Instant Cash and Check Card, through RiverWood Bankline, Online Banking, or an electronic (ACH) transaction, subject to limitations.1
- Six free withdrawals per month, then $2.00 each thereafter.
- FREE checking and savings combined monthly statements.
- FREE Business Instant Cash and Check Card (subject to qualification).
- FREE ATM transactions at RiverWood and many Instant Cash locations.
- FREE Online Banking.
- FREE automatic transfers from your RiverWood checking account to make savings easier.
Business Money Market Savings
A competitive, tiered interest rate account designed for customers with higher balances.
- $100.00 minimum deposit to open account.
- $20.00 monthly service fee. Fee waived with $2,500.00 minimum daily ledger balance.
- Competitive, tiered rates paid on daily collected balance.
- Earns daily interest, paid monthly. Monthly statements.
- Withdrawals or transfers available by check, in person, at an ATM with an Instant Cash and Check Card, through RiverWood Bankline, Online Banking, or an electronic (ACH) transaction, subject to limitations.1
- Six free withdrawals per month, then $2.00 each thereafter.
- FREE checking and savings combined monthly statements.
- FREE Business Instant Cash and Check Card (subject to qualification).
- FREE ATM transactions at RiverWood and many Instant Cash locations.
- FREE Online Banking.
- FREE automatic transfers from your RiverWood checking account to make savings easier.
Certificates of Deposit (CDs)
A longer term savings option, with competitive fixed rates on time deposits from 91 days to 60 months.
- $500.00 minimum deposit to open a certificate account.
- Interest bearing deposit with rate based on term of certificate.
- Penalties apply if funds are withdrawn prior to the stated maturity dates.
*Interest rates offered on accounts are determined at bank's discretion and may change without notice. Withdrawals, penalty or fees may reduce earnings.
1 You may not make more than six transfers by check, electronic check, draft, debit card (if applicable), bill pay, or other payment order to third party as well as transfers out by telephone, internet or through an automated clearing house. The bank reserves the right to close the savings/money market account if the transfer limitations described above are exceeded.
