Savings
Planning well means saving and investing for the future of your business. Ledyard offers a variety of ways to help you do that.
BUSINESS STATEMENT SAVINGS ACCOUNT
Because we tier our interest rates, the interest earned in your savings account may increase as your balance increases. Interest is earned on the entire balance as long as a $500 average daily balance is maintained.
BUSINESS STEP-UP MONEY MARKET ACCOUNT
Because we tier our interest rates, the interest earned in your Money Market account may increase as your balance increases. Federal regulations limit the number of third-party withdrawals to six per statement cycle. Three of these may be by check.
| |
Business Savings Account |
Business Step-Up Money Market Account |
| Minimum Balance |
$500 average daily balance to earn interest |
$1,500 required to open account |
| Monthly Maintenance Fee |
No |
$10.00 if average monthly balance per statement cycle falls below $1,500 |
| Deposit Fee |
No |
No |
| Items Deposited Fee |
No |
No |
| Check Paid Fee/Withdrawal Charge |
Four withdrawals per month at no charge - $.50 for each withdrawal over four |
Unlimited in-person and ATM withdrawals; $10.00 per item charge for all other withdrawals exceeding six per statement cycle |
| Interest Paid |
Yes |
Yes - Five rate tiers defined by daily account balance |
| Earning Credit |
No |
No |
| Other |
Federal regulations limit the number of third party withdrawals to six per statement cycle |
Federal regulations limit the number of third party withdrawals to six per statement cycle |
