Business Savings

Central Federal helps you manage savings to grow your business.

The success of your business depends on your ability to expand with the needs of your customers. At Central Federal, we’ve got your back. Take advantage of automatic transfers from checking to savings, online banking, and our savings calculators to help you plan.

Overview

Account TypeMinimum Opening BalanceMonthly FeeInterest Compounded
Statement Savings$10.00$3.00Quarterly
Money Market Deposit Account$1,000.00$7.50Monthly

* A monthly charge will apply if the account balance falls below $1,000.00 any day in the statement period.

Statement Savings

  • An interest bearing savings account
  • You must maintain a minimum daily balance of $10.00 to obtain the disclosed annual percentage yield.
  • A monthly service charge of $3.00 will apply if the minimum daily balance is not met.
  • Interest paid quarterly.

Money Market Deposit Account (MMDA)

  • Is an interest bearing savings account that allows you access to the account with limited check writing.
  • You must maintain a minimum daily balance of $250.00 to obtain the disclosed annual percentage yield.
  • A monthly service charge of $7.50 will apply if the account balance falls below $1,000.00 any day in the statement period.
  • Interest paid monthly.

Certificate of Deposits

  • You can start a Certificate with $1,000.00 or more.
  • Maturity frequencies of 31 days to 5 years or longer.
  • Is a fixed or variable rate instrument.

Ready to open your Business Savings account?