Business Checking & Savings
Rates accurate as of October 18, 2024
Rates accurate as of October 18, 2024
| Business Account Type | Minimum to Open | Minimum to Earn APY | Annual Percentage Yield (APY) | Compounding Method | Interest Rate | |
|---|---|---|---|---|---|---|
| Business Account Type | Minimum to Open | Minimum to Earn APY | Annual Percentage Yield (APY) | Compounding Method | Interest Rate | |
| Checking Accounts | ||||||
| Outreach Business* Open/Close | ||||||
| Outreach Business* | $100 | $100 | 0.05% | Daily | 0.05% | Contact OlyFed |
| Business Account Type | Minimum to Open | Minimum to Earn APY | Annual Percentage Yield (APY) | Compounding Method | Interest Rate | |
| Beyond Business | ||||||
| Tier 1 Open/Close | ||||||
| Tier 1 | $1,000 | $0 - $2,499.99 | 0.00% | Daily | 0.00% | Contact OlyFed |
| Tier 2 Open/Close | ||||||
| Tier 2 | $1,000 | $2,500 - $24,999.99 | 0.05% | Daily | 0.05% | |
| Tier 3 Open/Close | ||||||
| Tier 3 | $1,000 | $25,000 - $74,999.99 | 0.10% | Daily | 0.10% | |
| Tier 4 Open/Close | ||||||
| Tier 4 | $1,000 | $75,000 - $149,999.99 | 0.12% | Daily | 0.12% | |
| Tier 5 Open/Close | ||||||
| Tier 5 | $1,000 | $150,000 + | 0.51% | Daily | 0.50% | |
|
Fees may reduce earnings. Rates may change after the account is opened. The APY is accurate as of the date above and is subject to change. Fees may reduce earnings. * This account is for community organizations and nonprofits. |
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| Business Account Type | Minimum to Open | Minimum to Earn APY | Annual Percentage Yield (APY) | Compounding Method | Interest Rate | |
| Business Money Market Account (MMA) | ||||||
| Tier 1 Open/Close | ||||||
| Tier 1 | $2,500 | $50 - $2,499.99 | 0.05% | Daily | 0.05% | Contact OlyFed |
| Tier 2 Open/Close | ||||||
| Tier 2 | $2,500 | $2,500 - $9,999.99 | 0.10% | Daily | 0.10% | |
| Tier 3 Open/Close | ||||||
| Tier 3 | $2,500 | $10,000 - $49,999.99 | 0.20% | Daily | 0.20% | |
| Tier 4 Open/Close | ||||||
| Tier 4 | $2,500 | $50,000 - $99,999.99 | 0.20% | Daily | 0.20% | |
| Tier 5 Open/Close | ||||||
| Tier 5 | $2,500 | $100,000 + | 0.51% | Daily | 0.50% | |
| Business Account Type | Minimum to Open | Minimum to Earn APY | Annual Percentage Yield (APY) | Compounding Method | Interest Rate | |
| Business Premium Money Market Account | ||||||
| Tier 1 Open/Close | ||||||
| Tier 1 | $50,000 | $50 - $9,999.99 | 0.10% | Daily | 0.10% | Contact OlyFed |
| Tier 2 Open/Close | ||||||
| Tier 2 | $50,000 | $10,000 - $49,999.99 | 0.10% | Daily | 0.10% | |
| Tier 3 Open/Close | ||||||
| Tier 3 | $50,000 | $50,000 - $99,999.99 | 0.15% | Daily | 0.15% | |
| Tier 4 Open/Close | ||||||
| Tier 4 | $50,000 | $100,000 - $299,999.99 | 0.51% | Daily | 0.50% | |
| Tier 5 Open/Close | ||||||
| Tier 5 | $50,000 | $300,000-$499,999.99 | 2.05% | Daily | 2.00% | |
| Tier 6 Open/Close | ||||||
| Tier 6 | $50,000 | $500,000-$999,999.99 | 2.57% | Daily | 2.50% | |
| Tier 7 Open/Close | ||||||
| Tier 7 | $50,000 | $1,000,000+ | 3.60% | Daily | 3.49% | |
|
Rates may change after the account is opened. The APY is accurate as of the date above and is subject to change. Fees may reduce earnings. |
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| Business Account Type | Minimum to Open | Minimum to Earn APY | Annual Percentage Yield (APY) | Compounding Method | Interest Rate | |
| Savings Account | ||||||
| Statement Savings Open/Close | ||||||
| Statement Savings | $100 | $50 | 0.05% | Daily | 0.05% | Contact OlyFed |
| Companion Savings* Open/Close | ||||||
| Companion Savings* | $100 | $0 | 2.83% | Daily | 2.75% | Contact OlyFed |
|
$3 quarterly service charge will be imposed if the average daily balance falls below $100. *COMPANION SAVINGS: Variable rate account. Interest rate of 2.75% and 2.83% Annual Percentage Yield (APY) is effective as of September 27, 2024, and is subject to change anytime without notice. Initial deposits into the Companion Savings Account cannot exceed the deposits into any new or renewing Certificate of Deposit (CD). Deposits into Companion Savings Accounts can only be made when a new CD is opened, a deposit is made into an existing Certificate or an existing CD account is renewed at time of maturity. When a CD matures, up to the entire balance of the maturing CD may be deposited into a Companion account. Deposits must be made the same day as the deposits into the CD or at time of maturity. Companion Savings Accounts are compatible with any CD (including IRA’s). Minimum opening deposit of $100. All balances receive the stated APY. Fees may reduce earnings and rate may change after account opening. Terms and conditions apply. See Truth in Savings disclosure for details. |
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See Truth in Savings and Terms & Conditions brochures for details.
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