Money Market

Business Account

Oct 31, 2018, 05:56 AM

Business Account

Oct 31, 2018, 05:56 AM
*Daily Balance (the amount of principal in the account each day)
**Annual Percentage Yield and interest rate may change after the account is opened and fees may reduce earnings.
***On tiered rate products, interest is calculated and paid on the entire balance in your account.

1. Deposit Rates are accurate as of date of 07/01/18 and subject to change without notice. Minimum balance to open the account is $100. Checking rates are variable and may change after the account is opened. Interest is daily balance method and will be credited to the account on the scheduled statement date. Fees may reduce earnings. Daily balance is the amount of principal in the account each day. The minimum balance must be maintained for one year in order to receive the Annual Percentage Yield. Interest reward earned with the following requirements per statement cycle: 15 settled debit card transactions and 1 settled ACH Direct Deposit. Blended Interest rate: Rewards Checking earns an interest rate of 1.79% only for that portion of your daily balance between $0.01 and $25,000. The APY for this tier will be 1.80%. An interest rate of 0.50% will be paid only for that portion of your daily balance $25,000.01 and above. The APY for this tier will range from 0.50% to 1.80% depending on the balance in the account. One account per Social Security Number.


3 -Available to non-business accounts. New money only. New money is defined as money not on deposit with Inland Bank at or within 90 days prior to account opening. $10,000 minimum deposit required to open account. $10,000 minimum daily balance required to obtain the stated Annual Percentage Yield (APY) and avoid $25 service charge. (See rate tiers below) Variable rate tiered product. Interest is calculated and paid on the entire balance in your account. The interest rate and the APY may change and are based on a margin percentage of the Wall Street Journal (WSJ) Prime. Rates are accurate as of 10/01/18 and tiers are: Tier One $0-$9,999 = 0.00% APY / Interest Rate of 0.00%; Tier Two $10,000 and up = APY of 2.10% which is 40.00% of WSJ Prime / Interest Rate = 2.08%. We may change the interest rate and APY on the first business day of each month excluding federal holidays. Other activity restrictions and fees may apply, see our New Account Disclosure and Fee Schedule for Terms and Conditions, ask a banker for details. Fees could reduce earnings.

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