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Magnate Business Savings accounts

Business Savings Accounts

Earn interest on your balances while maintaining full access to your funds with a Magnate Bank business savings account. Whether you have a small business and are looking to grow your savings or are an established company with a large balance, Magnate Bank has a savings account that is sure to work for your business. In addition to low maintenance fees and healthy interest rates, all business savings accounts come with standard benefits, including online banking features.

Business Advantage Savings Business Investment Account
Good for you if You have an established business with larger balances You have a growing business and you're looking to build savings
Annual Percentage Yield 0.02 - 0.04% 0.02% $100 minimum deposit
Benefits Earn interest without locking into a term while maintaining fast access to your funds. No limit on daily deposits. Fees may apply. Write up to 3 checks per statement cycle. No limit on daily deposits. Fees may apply.
Monthly maintenance fee $15 $5
FDIC insured up to applicable limits Yes Yes
Small Business Online Banking Yes Yes
Overdraft Protection Yes Yes
Included in a checking solution Yes, can be included with Business Advantage Yes, can be included with Business Fundamentals

Savings Accounts for Small Business

Magnate Bank offers a wide range of accounts for small business that allow your business to get the security of fixed returns at competitive interest rates. Review and compare small business options from Magnate Bank and find what meets the needs of your growing business.

Standard Business Shorter Term Standard Business Longer Term
Good for you if You want short-term access to your funds You want to receive higher interest rates for longer terms/higher balances
Annual Percentage Yield For rate information or to open an account, please call us or visit your local financial center. For rate information or to open an account, please call us or visit your local financial center.
Benefits Automatic renewal Automatic renewal
Term 7 - 27 days 28 days - 10 years
Early withdrawal fee Yes Yes
Transaction limitations Yes Yes
Small Business Online Banking Yes Yes

Important Notice: Federal regulations and the Deposit Agreement and Disclosures limit the number of the following types of withdrawals and transfers from a savings account to a total of 6 each monthly statement cycle (each month for savings accounts with a quarterly statement cycle): automatic or pre-authorized transfers, telephone transfers, Online Banking transfers or payments, or, if checks or debit cards are allowed on the account, check, draft and point-of-sale transactions. If you exceed these limits on more than an occasional basis, we convert your account to another type of account and your account may no longer earn interest.

For more information, chat online with us or email us today.

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