Business Products - Savings

Business Passbook or Statement Savings
Certificate of Deposit

Business Passbook or Statement Savings
Home Savings Bank’s Business Savings Account allows customers to earn interest on their funds saved for future use. Interest begins to accrue on the day you make a deposit of cash or checks. Interest is compounded and credited monthly. If the account is closed before interest is paid, and the accrued interest is less than $1 you will not receive the accrued interest. The rate of interest paid on Business Regular savings accounts may change at any time. To view current rates see Rates & Fees section.

Collected funds can be withdrawn from your Business Savings Account at any time. Federal regulations permit only six pre-authorized, automatic, telephone transfers from your Savings Account per month.

• Minimum opening balance of $1
• $5 monthly fee if dormant for three years

Certificate of Deposit
For a short-term or long-term, a no risk investment to earn the highest rate available. Home Savings Bank Business Certificates of Deposit are a great option for any business that doesn’t need access to their funds for a predetermined amount of time.
Interest rates are guaranteed for the term of the Certificate. Interest begins to accrue on the day that checks or cash are deposited. To view current rates see Rates & Fees section.

Certificates of Deposit will automatically renew at maturity. Business customers will have seven (7) calendar days from the maturity date to withdraw funds without an interest penalty.

Business Certificates of Deposit

• Minimum opening balance of $5000.
• Terms of 6 months to 60 months.
• Interest can be paid monthly, quarterly, semi-annually or annually (if term is no more than one year) by check or automatic transfer to a Home Savings Bank Business Checking or Business Savings.
• Interest does not compound during the term of the certificate.

Jumbo Certificate of Deposit

• Minimum opening balance of $100,000
• Terms from 3 monthly to 60 months
• Automatically renewable
• Interest could be paid monthly, quarterly or at maturity (if term is less than one year) by check or automatic transfer to a Home Savings Bank Business Checking or Business Savings Account.
• Certificate of Deposit interest will compound monthly if no interest transfer or check is issued.

All Certificates of Deposit will be charged an interest penalty on funds withdrawn before maturity according to the following schedule.