Business Savings Accounts
For every style of business, R Bank has an account that fits your profile well. R Bank understands business. Backed by an experienced team of bankers, our seasoned team members and streamlined approach allow us to meet the needs of small – to medium-sized businesses. Coupled with superb personal service, R Bank has developed deposit accounts, loans, and services that help you create or expand your business, save and grow your revenue, and remain always ready to seize opportunities.
Business Savings Account
So Simple, Yet Ever So Special
The humble Savings account never looked so good. Whether you want a steady stream of savings, or just a place to keep some money safely out of reach until needed, we can help you.
- Simplicity. R Bank Savings require no more than a minimum balance to open and a similar minimum daily balance to provide an account with a competitive rate of interest compounded daily and paid quarterly.
- Discipline. Regular transfers from checking or other deposits to your Savings account will build a ready reserve for future use, with the added bonus of compounded interest.
- Utility. Savings work well for so many uses, as a reserve account for taxes or other major liabilities, as a cushion for the unexpected, or as the first step in a long-term investment plan.
Business Money Market
We Make Your Money Work Harder for You
If your business has current cash or short-term investment needs, R Bank’s Business Money Market account is one hard-working FDIC-guaranteed tiered-interest-bearing home. Our low minimum to open is one final way this business account helps your money work and work for you. Watch it grow, safe in the knowledge it will be there, waiting for you when you need it.
- Interest. Earn interest on your daily balance, according to tiered rates that increase with the amount you have on deposit. Pay no monthly maintenance fee as long as you maintain the current minimum balance. Interest is compounded daily and paid monthly.
- Access. R Bank makes your balance readily available as you need it, up to six withdrawals per month at no charge, three of which may be third party items. (based on regulatory limitations).
- Safety. Balances held in your account are fully insured by the FDIC up to the current maximum allowed by law.
Business Premium Money Market
The only way R Bank could create a Premium Money Market account better than Business Money Market was to prime it with even higher interest. Step up to Premium Money Market with your higher minimum to open and minimum daily balance to avoid fees. This premium will carry you considerably farther on your road to success.
- Premium. Earn even more interest on your daily balance than our other checking accounts, according to tiers that increase as your balance increases. Pay no maintenance fee, as long as you maintain a moderately higher minimum balance than an ordinary money market account.
- Access. Your full balance is readily available to you when you need it, up to six withdrawals per month at no charge, three of which may be third party items. (based on regulatory limitations).
- Safety. The FDIC fully insures any amount you hold in your account, up to the current maximum allowed by law.
Business Certificate of Deposit
For Months or Years, Just Three Letters: R CD
Nothing quite matches Certificates of Deposit for an impressive interest rate, FDIC-insured safety up to the guaranteed amount, and terms that can be tailored to exactly match your time horizon.
Your R Banker will help you tailor your CD to your needs to ensure you enjoy its full term and avoid any interest penalty for early surrender, so that you get all that your R Bank CD offers.
- Returns. Interest on your CD is paid at a higher rate than any other FDIC-insured account with such a reasonable minimum to open. CDs are guaranteed to return your principal, plus interest*, regardless of the term.
- Reserves. Over time, CDs work well as a store of reserves for your business. Your R Banker will help you choose terms and rates that grow your money prudently yet powerfully.
- Rotation. By choosing different terms and maturity dates you can lock in high-interest rates and still have a regular pattern of available funds rotating in to allow for smooth business operations.
High Yield Money Market
Our High Yield Money Market account combines the liquidity of a checking account with the earning power of premium rates. The more you keep in the account, the more you earn!
$25,000.00 – $149,999.991 1.01% APY*
$150,000.00 – $299,999.992 1.26% APY*
$300,000.00 – $999,999.993 2.02% APY*
$1,000,000.00 – Over4 2.99% APY*
With FDIC insurance, up to the maximum amount allowed by law, your growing account is safe and sound. Ask your R Banker today for more details about this exceptional account.
- Superior. Our highest money market interest rates are yours without compromise on access, ensuring that your higher balances earn you the premium you deserve yet remain ready to use.
- Graduated. Pre-defined tiers deliver progressively higher interest rates as your balance grows. Add funds as quickly as you want with unlimited deposits.
- Convenient. Monitor and manage your account with free Online Banking or Telephone Banking, R Bank’s 24-hour telephone banking system. Transactions are limited to six withdrawals each statement cycle at no charge, three of which may be third-party items.
*Certificates of Deposit are FDIC guaranteed up to the maximum allowed by the FDIC. Penalty may apply for early withdrawal of funds prior to maturity.
High Yield Money Market Disclosure
$2,500 Minimum required to open an account. The monthly daily balance is $25,000 to earn the minimum Annual Percentage Yield (APY)*. Rate and APY are current as of November 25, 2022, and are subject to change without notice. 1 – Interest Rate is 1.00% / 2 – Interest Rate is 1.25% / 3 – Interest Rate is 2.00% / 4-Interest Rate is 2.95%. Monthly Service Charge of $15 if balance falls below $25,000 minimum balance on ANY day of the statement cycle. Money Market Accounts are limited transaction accounts: six (6) withdrawal transactions per statement cycle. Additional transactions (including ACH items and transfers) over six (6) are charged an excessive withdrawal fee. See the Deposit Account Agreement for all terms and conditions of these accounts.
|Personal Savings Solutions*||Minimum Opening Deposit||Minimum Daily Balance||Monthly Service Charge**||Interest Paid|
|Kids Savers Club Savings||$200||$200||$3||Yes|
|Personal Money Market||$200||$2,500||$10||Yes|
|Premium Money Market||$2,500||$10,000||$15||Yes|
|High Yield Money Market||$2,500||$25,000||$15||Yes|
|Champions Money Market||$2,500||$750,000||$25||Yes|
**Monthly service charge if balance falls below minimum daily balance on any day of the statement cycle.