Business Savings / Investments

Business Prime Account

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

EFFECTIVE July 26, 2023.

Determination of Rate – The interest rate applied to Tier 2 is 15% of United States Prime.

Prime Account Rate Information:

Tier 1- If your average daily balance is $34,999.99 or less, the interest rate paid on the entire balance will be the Exchange Savings Rate of 0.10% with an annual percentage yield of 0.10%.

Tier 2 – The interest rate applied to Tier 2 is 15% of the United States Prime Rate at 8.50%.  An interest rate of 1.275% 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 1.28% 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 United States Prime is 8.50%

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 $25.00 service charge if your average daily balance falls below $2500.00.
A minimum initial deposit of $2500.00 to establish relationship.

Municipalities are not eligible for a Prime Account.

Call and speak to an EXBA personnel today 256.547.2572