Savings Accounts For Business Owners
As a business owner, you know the importance of having money saved away. Whether you're saving for a rainy day or to make a future investment into your business's operations, it's important that you have the right business savings account that allows you to execute your savings strategy. First National Bank Minnesota offers two savings accounts that work for businesses of any size:
- Business Savings Account
- Non-Personal Business Preferred Account
Either of these accounts is a great option for business owners. Contact your local First National Bank Minnesota office to speak with our business banking team and open your business savings account.
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Compare Our Business Savings Accounts
Business Savings | Non-Personal Preferred Savings | |
|---|---|---|
Minimum Opening Deposit | $300 | $1,000 |
Minimum Daily Balance | $300 | $1,000 |
Earns Interest | Yes, balances earn interest at | Yes, balances earn interest at |
Statements | Free e-Statement or Paper | Free e-Statement or Paper |
Monthly Service Fee/ | $5 monthly maintenance fee | $10 monthly maintenance |
Activity Fees | None | A $10.00 transaction fee will be |
Features & Options | Online Business Banking | Online Business Banking |
Business Certificates of Deposits (CDs)
A business CD from First National Bank Minnesota can allow your money to do more for you. Our CDs offer better rates than traditional savings account. Here's what you need to know:
- Minimum deposit of $1,000
- Terms ranging from 3 months to 60 months
- Rate based on term length
- Funds are FDIC-insured up to $250,000
- Multiple options available at maturity, including withdrawal or reinvestment
- Early withdrawals subject to penalty