american dollar bills rolled up and planted in a garden
At Kensington Bank we understand local community businesses because hey, we’re one too! It is important to save for future expenses, emergencies, and to fill cash flow gaps should they occur. That’s why Kensington bank offers two different options to save for your business with competitive rates, and easy accessibility.
See chart below for details.
Business Money Market Savings | Business Basic Savings | |
---|---|---|
Account Requirements | Business Money Market Savings None | Business Basic Savings None |
Minimum Opening Deposit | Business Money Market Savings $2,500 | Business Basic Savings $25 |
Minimum Daily Balance | Business Money Market Savings $2,500 | Business Basic Savings $25 |
Interest Rate | Business Money Market Savings Tiered based on daily balance
$0 - $24,999 | Business Basic Savings Variable Annual Percentage Yield |
Fall Below Fee | Business Money Market Savings $5 Monthly Fee if minimum daily balance not met | Business Basic Savings $5 Quarterly Fee if minimum daily balance not met |
Additional Benefits | Business Money Market Savings Free Digital Banking | Business Basic Savings Free Digital Banking |
*If your daily balance falls below $150,000, the following fees will apply that month:
Remote Deposit + $20 scanner rental fee + $50 monthly service fee + $.07 transaction fees; Payroll Processing + $20 per month.
We offer a comprehensive array of cash management tools to help you manage your finances – free online banking, free online bill pay, free mobile banking & mobile deposit, payroll processing, ACH origination, sweep options, remote deposit capture, merchant card processing, credit and debit cards, health savings accounts, retirement accounts and more. See chart for more details and talk with a banker to learn how these tools can meet your business needs.
When you need additional funds for your business, talk with us. We offer a variety of financing options to help you manage your cash flow needs, make purchases, fund your growth, acquire property and more – business loans & lines of credit, commercial real estate loans, equipment loans, agricultural loans – we want to partner with you to help you create greater success for your business.
Stop by any of our offices ->Link to locations page or give us a call at 800-550-2146 to make an appointment with a Universal Banker to learn more.
Stop by any of our offices, give us a call at (866) 965-2419, or contact us.
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