Easily Save Money for Your Business
Saving is an important aspect to any business. A healthy savings account helps ensure you’re covered when an expense, expected or unexpected comes up. Farmers & Merchants State Bank offers three savings options, each of which include the following benefits:
- 24/7 access via Online Banking
- Interest-bearing account
- Direct Deposit
Available Business Savings Accounts
Farmers & Merchants State Bank offers the following savings accounts for our local business owners:
- Business Savings Account: Earn interest on your account while maintaining access to your money when you need it. Interest is paid quarterly and you’ll receive a quarterly statement that is combined with your checking account. ATM access is available with this account. Minimum balance of $200 to open the account to avoid $3 service fee.
- Premium Money Market and Money Market Savings Account: Take advantage of higher interest rates with higher balances. Your interest is paid monthly, and you’ll receive tiered interest rates based on your account balance. These accounts come with monthly statements and limited check-writing privileges, and you must maintain a minimum balances based on product and tiers to maintain higher interest rates.
- Business Premium Savings Account: This account allows you to earn rates similar to CDs, thanks to a $25,000 minimum balance requirement. Your interest is paid quarterly, and you must maintain the minimum balance requirements to maintain the higher interest rate.
Find Your Business Savings Solution
Farmers & Merchants State Bank is ready to help you find a savings account to make saving money for your business easy. Give us a call at 1-888-478-3007 or visit our switch kit if you’re ready to switch your current savings account over to an option we offer.