Business Savings Accounts
To open a business savings account, please call ahead and schedule an appointment.
Winterset 515-462-4242 St. Charles 641-396-2233 Orient 641-337-5418
F&M SAVINGS | F&M MONEY MARKET | |
|---|---|---|
| Minimum Opening Deposit | $50 | $50 |
| Maintenance Fee | $5.00 will be imposed every monthly statement cycle if the balance in the account falls below $500.00 any day of the monthly statement cycle. | $10.00* will be imposed every monthly statement cycle if the balance in the account falls below $1,000.00 any day of the monthly statement cycle. |
| Transaction Limitations | N/A | N/A |
| Interest** | Interest Rates | Interest Rates |
| Dormant Fee | $5.00 will be imposed monthly if the daily balance falls below $500.00 and no activity for 12 months. | $5.00* will be imposed monthly if the daily balance falls below $500.00 and no activity for 12 months. |
*This fee is subject to the 7% Iowa state sales tax.
**At our discretion, the interest rate and annual percentage yield may change weekly. Interest will be compounded daily. Interest will be credited to your account monthly. Interest begins to accrue on the business day you deposit non-cash items (ie: checks). We use the daily balance computation method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day. Interest rate and annual percentage yield may change.