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LIBOR Based Business Money Market Savings
The One Month LIBOR (London Interbank Offered Rate) Index is one of the widely used reference rates for numerous financial instruments and provides the basis for some of the world’s most liquid and active interest rate markets.
This is the right account for you if your business:
- Has large deposit balances for investment
- Seeks a deposit account tied to a commonly accepted interest rate index
Features
- Minimum opening balance: $10,000
- Minimum balance to earn interest: $1,000,000
- Maximum balance to earn interest: $75,000,000
- Minimum monthly average balance to avoid monthly service charge: $10,000
- Interest rate is indexed to 70% of the One Month LIBOR as published each Tuesday on Bloomberg.com*
- Monthly statement
- Up to six outgoing transactions to third parties per statement cycle**
- FDIC-insured to legal maximum
*For example, if the One Month LIBOR is quoted as 0.30%, the interest rate would be 0.21%
**Subject to Reg D transaction limits
Business Account Disclosure (PDF)
Schedule of Fees (PDF)
Equal Housing Lender