A business savings account allows you to earn interest on extra funds without tying up your money for an extended period of time.
Business Banking > Business Savings
Statement Savings Account1
A basic interest earning plan.
(1) Transfer and withdrawal restrictions: As per Regulation D, Savings Account depositors are not permitted to make more than six (6) restricted transfers or withdrawals in any combination per statement cycle. RESTRICTED TRANSFERS AND WITHDRAWALS include automatic or electronic transfers to the account of the same depositor at Peoples Security Bank and Trust if made by autodraft to/from checking or savings; automatic transfers by Telephone Banking, Online Banking or Mobile Banking. Transfers or withdrawals to third parties each month include ACH preauthorized transfers and Automatic transfers by telephone or PSBT Online Bill Pay. UNRESTRICTED TRANSACTIONS: An unlimited number of savings withdrawals or transfers are allowed when made between accounts of the same depositor in the following situations: in person, by ATM, by telephone with a check mailed to the customer, or to repay a loan at PSBT by autodraft.
(2) $5 monthly service charge for balances below $100.
(3) Variable interest rate subject to change at bank’s discretion. Interest is compounded quarterly and paid quarterly to account at the end of the following months: February, May, August and November.