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From custom-tailored business loans, to state-of-the-art treasury management services, Town North is the one bank you can count on - today and tomorrow.
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Savings, Money Markets & CDs
Put your money to work with a savings vehicle that is just right for your business.
Business Statement Savings
A basic account for businesses with less to invest.
- $100 minimum to open
- Six withdrawals allowed per quarter, with additional withdrawals $2.00 each.
- Interest calculated daily, compounded and paid quarterly
With a minimum daily balance of $300, we'll waive your $9 quarterly fee.
Transfers from this account to another account or to third parties by
preauthorized, automatic, telephone or ATM transfer are limited to six per
4-week statement cycle by check, draft, debit card, or similar order to third
parties. Six free debits are allowed per quarter, additional debits are $2 each.
Business Money Market Account
If you need access to the funds your company has to invest, you'll find our money market account to be very rewarding!
- $100 minimum to open
- Interest calculated daily, compounded and paid monthly
- Five tiers reward higher balances:
$0.01 - $9,999
$10,000 - $49,999
$50,000 - $499,999
$500,000 - $999,999
$1,000,000 and above
With an average daily balance of $5000, we'll waive your $15 monthly fee.
Transfers from this account to another account or to third parties by
preauthorized, automatic, telephone or ATM transfer are limited to six per
4-week statement cycle by check, draft, debit card, or similar order to third
parties. Additional debits per 4-week statement cycle are $10 each.
First 50 items (credits, items deposited) processed per month at no charge, with additional items $0.25
each. OR, if used as depository account, will be charged through account analysis.
Certificates of Deposit (CDs)
A CD is safe, secure investment for the funds you want to protect from market
fluctuations. Terms range from 30 days to 60 months.
- Opening minimum varies from $1,000 to $100,000 or $100,000++for jumbo CDs
- Withdrawals only permitted at maturity without substantial penalty
- Fixed interest rate
- Interest calculated and compounded daily
- Payment options vary, including monthly, quarterly, semiannually, annually, or at maturity
Penalty for early withdrawal:
- If CD term is 89 days or less, penalty is one month of simple interest on amount withdrawn.
- If CD term is 90 days or more, but less than one year, penalty is three months of simple interest on amount withdrawn.
- If CD term is one year or more, penalty is six months of simple interest on amount withdrawn.
- If CD term is two years or more, penalty is nine months of simple interest on amount withdrawn.
Triple Bonus CD
Get bonus benefits with this exclusive Town North CD! 19 or 30-month terms.
- $5,000 opening minimum deposit.
- Fixed interest rate
- Competitive interest rates calculated and compounded daily
- Payment options vary, including monthly, quarterly, semiannually, annually, or at maturity
- One additional deposit is allowed during the term of the CD
- One rate increase is allowed during the term of the CD
- Withdrawals only permitted at maturity without substantial penalty
Penalty for early withdrawal
- If CD term is 89 days or less, penalty is one month of simple interest on amount withdrawn.
- If CD term is 90 days or more, but less than one year, penalty is three months of simple interest on amount withdrawn.
- If CD term is one year or more, penalty is six months of simple interest on amount withdrawn.
- If CD term is two years or more, penalty is nine months of simple interest on amount withdrawn.
Triple Bonus Plus CD
Get bonus benefits with this exclusive Town North CD! 12 or 24-month terms.
- $25,000 minimum to open
- Withdrawals only permitted at maturity without substantial penalty
- Fixed interest rate
- Interest calculated and compounded daily
- Payment options vary, including monthly, quarterly, semiannually, annually, or at maturity
- Two additional deposits are allowed during the term of the CD
- Two rate increases are allowed during the term of the CD
- Bonus rate increase offered at renewal
Penalty for early withdrawal:
- If CD term is 89 days or less, penalty is one month of simple interest on amount withdrawn.
- If CD term is 90 days or more, but less than one year, penalty is three months of simple interest on amount withdrawn.
- If CD term is one year or more, penalty is six months of simple interest on amount withdrawn.
- If CD term is two years or more, penalty is nine months of simple interest on amount withdrawn.
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