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Business Savings

Business Banking

Save Money to Make Money

Save smarter with a Business Savings Account from The Bank of Salem. All businesses are eligible for this deposit account. Nonprofit organizations and government agencies enjoy further benefits.

Business Savings Account Features

  • Minimum opening balance: $100.00
  • Minimum daily balance: maintain $100.00 or more to avoid $5.00 quarterly fee
  • Interest paid quarterly to depositors who have maintained an average balance of $100.00 or more during the quarter
  • Rates of interest established each month based on prevailing market conditions
  • Nonprofit organizations and government agencies exempt from maintenance fee and paid interest regardless of minimum quarterly balance
  • Regulations restrict the number of withdrawals or transfers to another account to six (6) per month for transfers made by means of a preauthorized or automatic transfer by telephone, fax, online banking, check, draft, debit card, or similar order made by the depositor and payable to third parties (THIS REGULATION IS CURRENTLY SUSPENDED, AND THE BANK WILL NOT ENFORCE TRANSACTION LIMITATIONS ON BUSINESS SAVINGS ACCOUNTS)
  • No limit to the number of transfers or 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.

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