Business Premium Tiered Savings
Build your business savings without locking your money into a term.
Our Business Premium Tiered Savings account is best suited for business members with larger, long-term savings. This high-yield, tiered savings account provides an investment-type rate of return; earning a higher rate on larger savings balances. Plus, no monthly fees!
Interest rates are tiered based on account balance. There are three levels:
Interest is calculated on minimum monthly balance (MMB) from the 1st day to the last day of the month with interest paid on the last day of each month. To earn interest for the current month, a deposit will need to occur by the end of the day on the 1st of the month, which would set the MMB base. The highest applicable rate is paid on the entire minimum monthly balance.
Please note the minimum monthly balance (MMB) interest is calculated using the following formula:
Minimum account balance for the month x Interest rate x (# of days in the month / # of days of the year) = Monthly interest
The following fees apply:
FEES & INTEREST
|# of Free Full-Serve & Electronic Transactions||ONE FREE|
FULL-SERVE TRANSACTIONS (staff-assisted)
|Debit (cheque, withdrawal or intra-account transfer)||$1.25|
|Bill Payment Debit*||$1.25|
ELECTRONIC TRANSACTIONS (automated & online/mobile/telephone banking)
|Debit (Bill Payment, Interac e-Transfer®)**||$1.25|
|Pre-authorized Debit (PAD)||$1.25|
|ATM Withdrawal or Debit Card Point-of-Sale Purchase1||$1.25|
|eStatements with Cheque Images||FREE|
PLEASE REFER TO ACCOUNT-RELATED FEES & OTHER SERVICES FOR ADDITIONAL APPLICABLE FEES. 1Service Fees on Business Chequing Accounts are subject to change. *Additional Bill Payment fees may apply. **Additional Interac e-Transfer® fees may apply.