Business Savings & Money Market
Whether you're starting to save, growing your business cash reserves or keeping a larger balance available, Minster Bank has a business savings or money market account to fit your needs.
Business Savings & Money Market
Whether you're starting to save, growing your business cash reserves or keeping a larger balance available, Minster Bank has a business savings or money market account to fit your needs.
Explore Your Options
Regular
Savings
Best for small businesses and entrepreneurs who want a simple savings account with a low minimum balance.
Investment Savings
Best for businesses building their savings that want higher rates as their balance increases while maintaining easy access to their funds.
Money Market Advantage
Best for businesses with substantial cash reserves that want competitive rates while maintaining check-writing access.
Regular | Investment Savings | Money Market Advantage | |
|---|---|---|---|
| Best for | Small businesses and entrepreneurs seeking simple savings | Businesses building savings at higher balances | Businesses with substantial cash reserves |
| Interest method | Variable rate compounded daily and paid monthly | Variable rate, compounded daily and paid monthly, based on tiers: | Variable rate, compounded daily and paid monthly, based on tiers: |
| Minimum to open | $25 | $500 | $10,000 |
| Minimum balance to avoid fees | $200 | $1,000 | $10,000 |
| Monthly maintenance fee if balance falls below minimum1 | $4 | $8 | $25 |
| Key benefit | Low minimum balance to get started | Higher rates as your balance grows | Higher balance tiers than Investment Savings |
Savings
| Best for | Small businesses and entrepreneurs seeking simple savings |
|---|---|
| Interest method | Variable rate compounded daily and paid monthly |
| Minimum to open | $25 |
| Minimum balance to avoid fees | $200 |
| Monthly maintenance fee if balance falls below minimum1 | $4 |
| Key benefit | Low minimum balance to get started |
| Best for | Businesses building savings at higher balances |
|---|---|
| Interest method | Variable rate, compounded daily and paid monthly, based on tiers: |
| Minimum to open | $500 |
| Minimum balance to avoid fees | $1,000 |
| Monthly maintenance fee if balance falls below minimum1 | $8 |
| Key benefit | Higher rates as your balance grows |
| Best for | Businesses with substantial cash reserves |
|---|---|
| Interest method | Variable rate, compounded daily and paid monthly, based on tiers: |
| Minimum to open | $10,000 |
| Minimum balance to avoid fees | $10,000 |
| Monthly maintenance fee if balance falls below minimum1 | $25 |
| Key benefit | Higher balance tiers than Investment Savings |
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The best account for you depends on your typical savings balance and how you plan to use the funds. Regular Savings may be a good fit for small businesses and entrepreneurs looking for a simple savings account with a $25 minimum opening deposit.
Regular Savings may be a good option for a new business because it has a low $25 minimum opening deposit. It can provide a simple way to begin setting aside money for future business expenses or cash reserves.
Investment Savings and Money Market Advantage both offer tiered interest rates that vary based on the account balance. Investment Savings is designed for businesses building their savings, while Money Market Advantage is designed for businesses with more substantial cash reserves.
Investment Savings may be a good fit for a business with a $5,000 savings balance because it offers tiered interest rates and has a $1,000 minimum balance to avoid the monthly maintenance fee.
Money Market Advantage may be a good fit for businesses with substantial cash reserves. It requires a $10,000 minimum opening balance and offers tiered interest rates for balance ranging from under $25,000 to $500,000 and more.
A business savings account can be useful for setting aside funds and building cash reserves, while a business money market account can provide additional access to funds along with competitive interest rates. Minster Bank’s Money Market Advantage account includes check-writing privileges and tiered interest rates based on the account balance.
Regular Savings has a $25 minimum opening deposit and a $200 minimum balance to avoid the monthly maintenance fee. Investment Savings requires a $500 minimum opening deposit, has a $1,000 minimum balance to avoid the monthly fee and offers tiered interest rates based on the account balance.
Investment savings is designed for businesses building their savings and offers tiered interest rates beginning with balances under $5,000. Money Market Advantage is designed for businesses with larger cash reserves, offers additional balance tiers and includes check-writing privileges.
Regular Savings requires $25 to open, Investment Savings requires $500, Money Market Advantage requires $10,000.
The minimum balance to avoid the monthly maintenance fee is $200 for Regular Savings, $1,000 for Investment Savings, and $10,000 for Money Market Advantage. Additional charges may apply.
Yes. Minster Bank offers Money Market Advantage, a business money market account with tiered interest rates, check-writing privileges and a $10,000 minimum balance to avoid the monthly maintenance fee.
Disclosures
1. Additional charges may apply.
