Save for Long Term Business Goals
When your business needs a place to save for future purchases, our Business Savings Accounts are the right fit for your cash. All BankNewport Business Savings accounts include these standard features:
- Free Digital & Mobile Banking
- Bill Pay
- Free Telephone Banking
Business Statement Savings
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With Business Statement Savings, you receive a deposit account that pays interest and allows easy access to your money. You can earn a competitive rate of interest while saving for needed supplies or unexpected expenses. Open with only $100 and a low $3.00 monthly maintenance fee. There is no monthly maintenance fee when you maintain a minimum daily balance of $100 or more and you earn a competitive rate of interest by maintaining a minimum daily balance of $100 or more.*
| Tier | Minimum Daily Balance to Earn APY | APY | Minimum Deposit to Open |
| 1 | $100.00 - $2,499.99 | 0.05% | $100.00 |
| 2 | $2,500.00+ | 0.05% | $100.00 |
The Annual Percentage Yield (APY) is accurate as of April 7, 2020
* Some account restrictions and additional fees may apply. Rates are subject to change without notice. Total withdrawals and transfers from a savings account are limited to 6 per statement cycle. Transfers and withdrawals include, checks, preauthorized, automatic, telephone and internet transfers. A fee of $10.00 will be charged for each transaction thereafter.
Business Money Market Savings
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This account is the smart savings alternative that offers higher interest rates and convenient check writing all in one! You can open with $2,500. There is a low $10.00 monthly maintenance fee and no monthly maintenance fee when you maintain a minimum daily balance of $2,500 or more. You also receive a higher tiered interest rate structure, unlimited ATM usage, and convenient check writing (up to six per month).*
| Tier | Minimum Daily Balance to Earn APY | APY | Minimum Deposit to Open |
| 1 | $2,500.00 - $9,999.99 | 0.05% | $2,500.00 |
| 2 | $10,000.00 - $24,999.99 | 0.10% | $2,500.00 |
| 3 | $25,000.00 - $49,999.99 | 0.15% | $2,500.00 |
| 4 | $50,000.00 - $74,999.99 | 0.20% | $2,500.00 |
| 5 | $75,000.00+ | 0.25% | $2,500.00 |
The Annual Percentage Yield (APY) is accurate as of April 7, 2020
* Some account restrictions and additional fees may apply. Rates are subject to change without notice. Total withdrawals and transfers from a savings account are limited to 6 per statement cycle. Transfers and withdrawals include, checks, preauthorized, automatic, telephone and internet transfers. A fee of $10.00 will be charged for each transaction thereafter.
Business Select Plus Money Market Savings
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This account is the smart savings alternative that offers higher interest rates and convenient check writing all in one! You can open with $2,500. There is a low $10.00 monthly maintenance fee and no monthly maintenance fee when you maintain a minimum daily balance of $2,500 or more. You also receive a higher tiered interest rate structure, unlimited ATM usage, and convenient check writing (up to six per month).* Business Select Plus Money Market Savings Account requires either a Business Select Plus Checking or Business Analysis Checking account with the same EIN.
| Tier | Minimum Daily Balance to Earn APY | APY | Minimum Deposit to Open |
| 1 | $10,000.00 - $49,999.99 | 0.15% | $2,500.00 |
| 2 | $50,000.00 - $99,999.99 | 0.20% | $2,500.00 |
| 3 | $100,000.00 - $249,999.99 | 0.40% | $2,500.00 |
| 4 | $250,000.00 - $499,999.99 | 0.50% | $2,500.00 |
| 5 | $500,000.00+ | 0.75% | $2,500.00 |
The Annual Percentage Yield (APY) is accurate as of April 7, 2020
* Some account restrictions and additional fees may apply. Rates are subject to change without notice. Total withdrawals and transfers from a savings account are limited to 6 per statement cycle. Transfers and withdrawals include, checks, preauthorized, automatic, telephone and internet transfers. A fee of $10.00 will be charged for each transaction thereafter.
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