Save More, Make More
Money Market accounts typically require a larger opening balance but also benefit from higher interest rates. (See current rates.) All businesses are eligible to open a Business Money Market account at The Bank of Salem.
Business Money Market Features
- Minimum opening balance: $2,500.00
- Minimum daily balance: maintain $2,500.00 or more to avoid $10.00 fee
- Interest paid monthly to depositors who have maintained an average balance of $2,500.00 or more during the month
- Interest rate tier determined by minimum daily balance
- Rates of interest established each month based on prevailing market conditions
- Some restrictions apply to the number of withdrawals or transfers via preauthorized or automatic transfer or telephone code or instruction
- No more than six (6) transfers may be made by check, draft, debit card or similar order to a third party
- No limit to the number of withdrawals made in person, by mail, by telephone (via check mailed to the customer) or at ATMs
How to Enroll
Visit your nearest branch or call 573-729-3137.