Savings & Money Market Accounts
Business Savings Account
Whether you are putting aside money for a rainy day or a major purchase down the road, this account will help you develop good savings habits while earning interest on your money.
- $1 minimum opening deposit.
- $100 minimum balance required to avoid $2 monthly service charge.
- Interest calculated daily and credited quarterly on your entire collected balance. $1 minimum balance required to earn interest.
- Up to three withdrawals/transfers each month at no charge.
- Statement mailed quarterly or combined with your monthly checking account statement.
Money Market Accounts
This is a great investment vehicle if you want to earn market rates but maintain access to your money. With this tiered-interest account getting to your money is easy as writing a check or visiting an ATM.
- $2,500 minimum opening deposit
- $2,500 minimum balance required to avoid $10 monthly service charge
- Tiered Interest Earnings-Paid on average daily collected balances of $2,500 and above. As you increase your account balance, you'll earn more! Your interest rate automatically increases based on the following tiers:
$250,000 and up
Withdrawals and transfers can be made at any Traditional Bank ATM. You can also transfer funds in and out of your account via Online Banking. Up to six transactions are allowed each month. Unlike a CD, there are no penalties for early withdrawal; however, per item fees are charged for withdrawals exceeding maximum allowed.
Traditional Bank has been a member of the Certificate of Deposit Account Registry Service (CDARS) network since 2005. Through CDARS, Traditional Bank provides clients with access of up to $50 million in FDIC insurance with the convenience of one stop banking. Clients bank directly with Traditional Bank, complete one agreement, and receive one monthly statement. CDARS deposits earn competitive, CD-level rates and can compare favorably with Treasuries, sweep accounts, and money market funds.
Who does CDARS work for?
- Educational institutions
- District government
- Corporations and others