Business Savings/Investments

Business Prime Account

A competitive rate of interest is earned on your average daily balance as follows:

EFFECTIVE September 19, 2019

DETERMINATION OF RATE – THE INTEREST RATE APPLIED TO TIER 2 AS OF 09-19-2019

IS 20% OF NY PRIME.

PRIME RATE INFORMATION:

TIER 1 IF YOUR AVERAGE BALANCE IS $34,999.99 OR LESS, THE INTEREST PAID ON THE

ENTIRE BALANCE WILL BE 0.10% WITH ANNUAL PERCENTAGE YIELD OF 0.10%.

TIER 2 AN INTEREST RATE OF 1.00% WILL BE PAID ONLY FOR THAT PORTION OF YOUR

AVERAGE DAILY BALANCE THAT IS GREATER THAN $34,999.99. THE ANNUAL PERCENTAGE

YIELD FOR THIS TIER WILL RANGE FROM 0.10% TO 1.005% DEPENDING ON THE BALANCE IN

THE ACCOUNT. THE PORTION OF THE BALANCE BELOW $35,000.00 WILL EARN INTEREST AT

THE TIER 1 RATE.

Prime Interest is compounded monthly and will be paid on the account every month.

Currently New York Prime is 5.00%.

 

Transactions and Fees:

Six debit transactions per statement cycle
Unlimited transactions in person
$10.00 per item charge for additional transfers and checks.

Balance and Deposit Requirements:

A $10.00 service charge if your average daily balance falls below $1000.00.
A minimum initial deposit of $2500.00 to establish relationship.

Regular Office Hours: 256.547.2572 | Exchange Info Line 256.570.0999
Member FDIC Equal Housing Lender SBA Preferred Lender ©2015 Exchange Bank of Alabama™. All rights reserved.