Business Statement Savings Account

Managing expenses is essential for running a business, especially when you’re planning for the future. With the Cypress Bank Business Statement Savings Account, you can easily manage your money and optimize it for growth.

With easy access to your funds and interest that compounds quarterly, the Business Statement Savings account gives you the flexibility to save for upcoming needs or unexpected opportunities.

Whether you’re building a cash reserve, planning for seasonal expenses, or setting aside funds for expansion, having a dedicated savings account is an important part of every business plan. Get a clear picture of your finances and stay organized with a business savings account.

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Account Information

• Rate Information
  Your interest rate and annual percentage yield may change.
  
  
• Frequency of rate changes
  We may change the interest rate on your account at any time.
  
  
• Determination of rate
  At our discretion, we may change the interest rate on your account.
  
  
• Compounding and crediting frequency
  Interest will be compounded every quarter. Interest will be credited to your account every quarter.
  
  
• Minimum balance to open the account
  You must deposit $100.00 to open this account.
  
  
• Minimum balance to obtain the annual percentage yield disclosed
  You must maintain a minimum balance of $50.00 in the account each day to obtain the disclosed annual percentage yield.
  
  
• Daily balance computation method
  We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
  
  
• Accrual of interest on noncash deposits
  Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks).
  
  
• Fees
  An excess withdrawal fee of $3.00 will be charged for each debit transaction in excess of three during a calendar month.
  If the account balance falls below $50.00 at any time during the month, a $3.00 low balance fee will be assessed.
  
  
• Contact us for more information.

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