Business Savings Accounts
Prepare for the unexpected with a business savings account, money market, or CD for your company. With a business account from Honor Bank, you get all the benefits and features you need. And with flexible transactions and mobile banking available, you can manage your company’s funds from anywhere.
Business savings accounts provide more than just a safe place to keep “just-in-case” funds. Here are a few more great reasons to establish a savings account for your small business:
- Divide business funds between checking and savings to help keep an organization operating on-budget.
- Store funds to cover quarterly or annual tax bills.
- Moderately boost savings every month. Even when savings interest rates are trending low, it’s nice to see that number go up!
- Potentially increase the chance of being approved for a business loan.
Business Savings Account Details
Our basic savings and money market accounts give you ready access to your business funds, and you can use online banking and our Small Business Mobile Banking App free of charge. Build your balance(s) to improve your cash flow, save for specific business goals, or keep emergency reserves for slow quarters and crises.
Honor Bank is honored to serve the companies the people of northern Michigan rely on every day. We designed our business savings accounts to deliver all the essential benefits, including:
- Monthly pricing options
- $5 per month for low-balance accounts
- $0 monthly fee with a $100 minimum daily balance
- Access to Honor Bank’s Small Business Mobile App
- Free online banking and bill pay
- Free e-Statements and e-Notices
- Access to your funds – unlimited withdrawals
The sooner you start an account, the sooner you start saving. If you’re ready to bank with us, we’ll help you set up your account in no time.
Our Business Savings Account Options
Our classic business savings account offers all the benefits you need with carefully chosen features that make the account easy to manage. Enjoy online and mobile banking as well as unlimited deposits and withdrawals.
Business Money Market
Looking for a savings account with a higher interest rate? Our money market accounts are the answer! These accounts are a no-brainer for businesses looking to earn interest on their savings.
Front Street Money Market
For those looking to earn even higher interest rates, our Front Street Money Market account is the perfect option. With just two tiers of interest, there’s a great rate available to everyone!
Certificates of Deposit
Want to save money long-term? Certificates of Deposit offer higher fixed interest rates in exchange for leaving money untouched for a set period, from 31 days to 5 years.