Business Savings
If you are looking for a strong, safe and sound place to grow your company’s hard earned dollars, Hudson Valley Bank has four smart options for you. Our business savings products offer competitive rates, great terms and uncommon personal attention from experienced bankers. In addition to branch service, you can make deposits into your Savings or Money Market Account anytime from your home or office with our Rapid Remote 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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Business Money Market Account |
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Business Money Market Account
Our Business Money Market Account is designed to help businesses maximize earnings on their available cash without tying up their 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 Business Money Market Account pays a competitive rate of interest, which is compounded and credited monthly. Federal regulation dictates that customers cannot make more than six pre-authorized transfers, including telephone and automatic transfers to other accounts, and no more than three third-party checks on a monthly basis
Business Statement Savings Account
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 competitive interest rates, periodic statements showing all activity on the account, convenient access to funds and unlimited transfers.
Certificates of Deposit*
Business Term Savings Account or 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 Term Savings Account at Hudson Valley Bank. To meet your needs, we offer competitive interest rates on a variety of term savings accounts ranging in length from 91 days to seven years. Some accounts can be added to during the term and many can be rolled over automatically to help reduce paperwork. Interest may be payable monthly, quarterly, semi-annually or at maturity. With guaranteed interest rates, short-and long-term maturities and low minimum balances, Hudson Valley Bank’s Business Savings CD can help to grow your business.
Jumbo Term Savings Account or Certificate of Deposit (CD)
A Hudson Valley Jumbo CD offers higher interest rates for large depositors. A minimum deposit of $100,000 and average daily balance of $100,000 is required to earn this special high interest rate. As an added benefit, interest begins to accrue on the business day the funds are deposited and is compounded and credited daily for faster growth. A Jumbo CD is a sound alternative for businesses who want to watch their money grow while choosing a maturity to coincide with when they will need access to their funds. Locking in higher interest rates 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 term savings account (CD).
For additional information about Hudson Valley’s Business Savings options, please contact the Branch nearest you or click here to contact us today.
