Savings That Boost Your Thriving Business
Keep every penny you earn working hard for your company.
A business savings account with Dearborn Federal Savings Bank rewards your savings with compounded interest. Plus, we offer low maintenance fees to keep costs down.
Click below for a breakdown of the savings account rate chart containing information about interest rates and annual percentage yields (APY).
Commercial Savings
Dearborn Federal Savings Bank offers business savings accounts with competitive interest rates. The Commercial Statement Savings account is tailored to provide maximum convenience, security, accessibility, and return. Additionally, the statement savings account offers the benefit of EFT activity (ATM and ACH transactions), and statements are available monthly or quarterly (based on account activity) and can be accessed online.
- $25 minimum opening deposit
- Maintain a $200 minimum daily balance to earn interest and avoid fees
- A flat $5 quarterly service fee if the average daily balance is not attained
- Interest compounded and paid to the account quarterly
Beginning on January 1, 2024, many companies in the United States will have to report information about their beneficial owners, i.e., the individuals who ultimately own or control the company. They will have to report the information to the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau of the U.S. Department of the Treasury. More information can be found in the Beneficial Ownership Reporting Requirements Small Entity Compliance Guide.
Click below for a breakdown of the Statement Savings rate chart containing information about interest rates and annual percentage yields (APY).
The Interest Rate and Annual Percentage Yield may change after account opening. Fees could reduce earnings on the account. All accounts are insured by the FDIC to the maximum amounts allowed by law based on account ownership.