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Business Savings

Our business savings account is a great way to keep your capital safe while earning interest on your money.  Remember, we offer same day credit on deposits made before 6pm, Monday - Friday.  Details below:

Rate information - Contact Roscoe State Bank for current rate information.

Compounding frequency - Interest will be compounded quarterly.

Crediting frequency - Interest will be credited into this account quarterly.

Effect of closing an account - If you close your account before interest is credited, you will not receive the accrued interest.

Daily balance computation method - Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of interest on noncash deposits - Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.

Minimum balance to open - The minimum balance required to open this account is $200.00.

Minimum balance to avoid Minimum Balance Fee - If your balance falls below $200.00 on any day in the statement cycle, we will impose a service charge fee of $4.00 for that statement cycle. 

Deposit limitations - You may make an unlimited number of deposits into your account

Limitations on frequency of transfers - During any monthly cycle, you may not make more than six (6) withdrawals or transfers to another account of yours or to a third party by means of a preauthorized or automatic transfer or telephone order or instruction or by check, draft, debit card (if applicable) or similar order to a third party. If you exceed the transfer limitations set forth above, your account will be subject to closure. 

Fees and Charges - The following fees and charges apply to this account: 

    • Per item fee.:  A per item fee of $3.00 will be charged for each withdrawal in excess of three (3) per quarterly statement cycle.

 

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