Business Savings Accounts
A business savings account ensures you have a financial back up plan in the event of unexpected expenses or circumstances. Our savings account options offer flexible solutions for your needs, including competitive interest rates. Iowa Trust offers a traditional business savings account and a business money market account.
Money Market Account
A popular savings/deposit account is a money market account. A money market account will pay out higher interest rates than a traditional savings account, but requires that a business maintain a combined average available balance of $2,500 between deposits and loans. Money market accounts are insured by the FDIC or NCUA, up to $250,000 held by the same owner or owners.
| Savings | Money Market | |
|---|---|---|
| Description | Basic Savings Account | Interest Bearing Savings Account for those who maintain higher balances in deposits and loans. |
| Minimum to Open | $100 | $2,500 |
| Interest Bearing |  |
|
| Monthly Fee | $4 | $8 |
| How to avoid fee: | Maintain a combined average available balance of $3,000 in deposits and loans or sign up for E-Statement. *** | Maintain a combined average available balance of $2,500 in deposits and loans. |
*** Fees are also waived for customers ages 0 through 23 ***
Full disclosure of all savings account requirements, services, funds availability and fees will be made available at the time of opening the account or upon request
Iowa Trust has the right to refuse any deposits