Business Gold Account from Bank of Indiana are a great way to save for businesses that can maintain a higher balance and want to earn interest.
Account Features
Minimum to Open Account: A minimum initial deposit of at least $10,000 is needed to open a Business Gold Account.
$10,000 Balance: If the daily balance falls below $10,000 any day of the month, you will earn Bank of Indiana’s regular Money Market rate. If your daily balance falls below $10,000, your account is subject to a monthly service fee of $8.
Balance Computation: Bank of Indiana uses a daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
Interest Compounding, Crediting and Accrual: Interest will be compounded monthly and credited on the last day of your statement cycle. Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (i.e. – checks).
Account Closing: If you close your account before interest is credited you will not receive the accrued interest.
Withdrawals: The only withdrawals allowed from a Gold Account are transfers to a companion, non-interest-bearing demand account at Bank of Indiana. You may make unlimited in-person, ATM, telephone or Internet transfers to the companion account in increments of $1,000.
Contact us or stop by our banking center today for more information, to check current rates and fees, or to set up your Business Gold Account.
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