If you are looking for a strong, safe and sound place to grow your company’s hard earned dollars, Hudson Valley Bank has three smart options for you. Our business savings products offer competitive rates, great terms and unprecedented personal attention from experienced bankers. In addition to branch service, you can make deposits into a Savings or Money Market Account anytime from your home or office with our Remote Deposit service, or after banking hours using one of our conveniently located ATMs or Night Drop Deposit Boxes. To meet the financial demands of today’s businesses, all of our business customers have 24/7 access to their accounts through our ATMs, Easy Access Telephone Banking system and Cash Manager Business Online Banking service.
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Our Commercial Money Market Account is designed to help businesses maximize earnings on available cash without tying up funds. Our tiered interest rates provide higher rates for higher balances. This account particularly benefits businesses who maintain large balances on a regular basis. Our Commercial Money Market Account pays a competitive rate of interest, which is compounded and credited monthly. Federal regulation dictates a maximum of six pre-authorized transfers, including telephone and automatic transfers to other accounts, and no more than three third-party checks on a monthly basis.
For businesses that want to save money but keep it readily accessible, a Hudson Valley Bank Business Statement Savings Account can be a convenient alternative to traditional checking or money market savings accounts. For businesses with moderate sums to invest for short periods of time, a Business Statement Savings Account offers liquidity, competitive interest rates, periodic statements showing all activity on the account, convenient access to funds and unlimited transfers. Federal regulation dictates that during any month or statement cycle, depositors may not make more than six (6) withdrawals or transfers to another account, or to a third party by means of a preauthorized or automatic transfer, or telephone order or instruction, computer transfer, or by check, draft, debit card or similar order payable to a third party.
Business Certificate of Deposit (CD)
Businesses looking for a higher rate of interest over traditional savings or money market accounts can invest their funds in a CD at Hudson Valley Bank. We offer competitive interest rates on a variety of terms savings ranging in length from 91 days to five years. With guaranteed interest rates, short-and long-term maturities and low minimum balances, Hudson Valley Bank’s Business CDs can help to grow your business.
Jumbo Certificate of Deposit (CD)
A Hudson Valley Jumbo CD offers competitive interest rates for large depositors. A minimum deposit of $100,000 and average daily balance of $100,000 is required to open a Jumbo CD. A Jumbo CD is a sound alternative for businesses who want to watch their money grow while choosing a specific term to meet their needs. Locking in a fixed interest rate for short and long-term maturities can be a successful strategy for your business.
*There is a penalty for money withdrawn prior to the determined maturity of the CD.
For additional information about Hudson Valley’s Business Savings options, please contact the Branch nearest you or click here to contact us today.