Business Deposit Rates

The deposit information below is effective as of February 25th, 2018. APY = Annual Percentage Yield. Rates are subject to change without notice. Please refer to our Business Membership and Account Agreement, Business Product and Fee Schedule and Cash Management Product and Fee Schedule for additional terms and conditions that apply to your account, including fees, how dividends are calculated, and early withdrawal penalties on certificates. Fees can reduce earning on accounts.

CLICK HERE to see a comparison of Salal’s Business Deposit Accounts.

 

Business Checking Accounts

AccountBalanceRateAPY
BUSINESS INTEREST CHECKING$250 - $9,9990.05%0.05%
$10,000 - $24,9990.05%0.05%
$25,000 - $49,9990.10%0.10%
$50,000 - $99,9990.10%0.10%
$100,000 - $249,9990.10%0.10%
$250,000 +0.10%0.10%
BASIC BUSINESS CHECKING$250 - $9,9990.00%0.00%
$10,000 - $24,9990.05%0.05%
$25,000 - $49,9990.05%0.05%
$50,000 - $99,9990.05%0.05%
$100,000 - $249,9990.05%0.05%
$250,000 +0.05%0.05%
$250 minimum opening balance for Basic Business; $500 minimum to open Business Interest.

Business Savings Account

AccountBalanceRateAPY*
BUSINESS SAVINGS
(non-profits only)
$250 - $9,9990.05%0.05%
$10,000 - $24,9990.10%0.10%
$25,000 - $49,9990.10%0.10%
$50,000 - $99,9990.10%0.10%
$100,000 - $249,9990.10%0.10%
$250,000 +0.10%0.10%
$25 minimum opening balance.

Business Money Market Account

AccountBalanceRateAPY
BUSINESS MONEY MARKET$2,500 - $9,9990.05%0.05%
$10,000 - $24,9990.10%0.10%
$25,000 - $49,9990.10%0.10%
$50,000 - $99,9990.10%0.10%
$100,000 - $249,9990.20%0.20%
$250,000 +0.25%0.25%
$2,500 minimum opening balance.

Business Share Certificate

AccountBalanceRateAPY*
BUSINESS CHOICE TERM 6-18 MONTHS$500 - $9,9990.10%0.10%
$10,000 - $24,9990.20%0.20%
$25,000 - $49,9990.30%0.30%
$50,000 - $99,9990.35%0.35%
$100,000 - $249,9990.50%0.50%
$250,000 +0.65%0.65%
$500 minimum opening balance. Up to three additional deposits are allowed during the term with final total not to exceed twice the initial deposit amount. Dividends are calculated and compounded monthly. A penalty may be imposed for early withdrawal.

Business Cash Management

AccountBalanceRateAPY
HEALTHCARE CHECKING$0.01 - $9,9990.08%0.08%
$10,000 - $24,9990.08%0.08%
$25,000 - $49,9990.08%0.08%
$50,000 - $99,9990.08%0.08%
$100,000 - $249,9990.08%0.08%
$250,000 +0.08%0.08%
IOLTA Pooled$0.01 - $9,9991.00%1.00%
$10,000 - $24,9991.00%1.00%
$25,000 - $49,9991.00%1.00%
$50,000 - $99,9991.00%1.00%
$100,000 - $249,9991.00%1.00%
$250,000 +1.00%1.00%
Individual Attorney Trust$0.01 - $9,9991.00%1.00%
$10,000 - $24,9991.00%1.00%
$25,000 - $49,9991.00%1.00%
$50,000 - $99,9991.00%1.00%
$100,000 - $249,9991.00%1.00%
$250,000 +1.00%1.00%

Cash Management Analyzed Accounts

AccountBalanceMargin (basis points)*
ANALYZED ACCOUNT$0.01 - $74,9990.08%
$75,000 - $249,9990.08%
$250,000 - $499,9990.08%
$500,000 +0.08%
*Earnings Credit Allowance Index = Current Index Rate: 3 Month T-Bill plus the following margin: Average daily ledger balance minus float = (average daily collected balance minus 3% Federal Reserve Bank required reserve x ECA) / 365 x # days in the month, rounded to 0.05.

 

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