Savings
NextBusiness Saving product names | Business Installment Savings | Business Regular Savings | Business Money Market | Business VIP Money Market | Business Special Money Market |
---|---|---|---|---|---|
Description | Savings account that allows recurring transfers in fixed amounts to cash out later2 | Basic interest bearing savings account | Interest bearing account featuring limited check writing privileges | Interest bearing account featuring limited check writing, and the option to earn a higher interest when a higher balance is maintained | Interest bearing account featuring limited check writing privileges that offers the maximized return on balance |
Minimum Opening Deposit | First monthly installment | $100 | $2,500 | $100,000 | $100,000 |
Monthly Service Charge | None | $5 | $10 and $0.25 per debit transaction | $20 and $0.25 per debit transaction | $30 and $0.25 per debit transaction |
Account Restrictions | Early withdrawal penalty: three (3) month’s interest | None | None | None | None |
To Waive Monthly Service Charge | None | Maintain daily balance: $500 | Maintain daily balance: $2,500 or Average daily balance: $5,000 |
Maintain daily balance: $20,000 or Average daily balance: $100,000 |
Maintain daily balance: $100,000 or Average daily balance: $300,000 |
Earns Interest | Yes1 | Yes1 | Yes1 | Yes1 | Yes1 |
Compounded | Daily | Daily | Daily | Daily | Daily |
Interest Payment Frequency | Quarterly | Quarterly | Monthly | Monthly | Monthly |
Internet Banking with Bill Pay | Yes | Yes | Yes | Yes | Yes |
Mobile Banking | Yes | Yes | Yes | Yes | Yes |
Telephone Banking | Yes | Yes | Yes | Yes | Yes |
1 Interest rates and annual percentage yields may change. If account is closed before interest is credited, accrued interest will not be paid.
2 Minimum contract amount is $1,000 and maximum contract amount is $100,000. Must make monthly installment payments; otherwise it may reduce both the interest and withdrawal amounts.
For further account details, please contact or visit your nearest PCB Bank branch representative.
Installment Savings Interest Rates effective as of November 14, 2022
We offer higher interest rates if you set up an automatic transfer from another account with PCB Bank.
For further account details, please contact or visit your nearest PCB Bank branch representative.
1 APY is Annual Percentage Yield.