All Blue Sky Bank branches will be closed on Saturday, July 4th.
Your business needs a home to grow its savings safely. Blue Sky Bank will guide you to the right place to keep your business’s money while it earns interest — whether it’s a business savings account or an investment program. All of these savings options are all FDIC-insured.
Blue Sky Bank’s Business Money Market Account offers one of the smartest, safest, and most secure ways to grow your business’s money. This is similar to a savings account but with higher interest rates. These earnings come without the risk of investing through stocks, bonds, and Money Market Mutual Funds, which are tied to market fluctuations. This type of savings option is backed by FDIC to the maximum amount allowed by the law.
The benefit of having a Business Money Market Account is two-fold. Competitive interest rates offer higher annual percentage yields and you can more easily access that money. A rainy-day fund also serves as an emergency reserve. You can withdraw from this account up to six times a month without being penalized. The account can even provide overdraft protection by sweeping funds into your business checking account as needed. Managing your Business Money Market Account’s transactions and activity can be done through our online banking services. Talk to one of our bankers about opening a Business Money Market Account for as little as $2,500.
Investing in CDs may be the right choice for your business if it can part with money over a certain period of time. CDs carry minimal risk and give your business’s money a guaranteed return.
A CD is a federally insured savings account with a fixed interest rate and a fixed date of withdrawal, also called the maturity date. Blue Sky Bank issues CDs in promissory notes typically between three months and five years. These earn higher interest rates than a savings account. The Blue Sky Bank team will work with you to determine which plan is best for your business’s savings goals. When the note matures, the entire amount, including the initial deposit and principle, is available for withdrawal.
CDs are considered safer investing options. Even though the return comes more slowly, the funds are backed by the federal government — unlike a similar investment in the stock market.
Opening a CD differs from a savings account in terms of accessing your funds. CDs come with a commitment that you will keep your funds in your account for a determined term length. Withdrawing that money early can result in penalty fees. Talk with one of our bankers about a time commitment that works for your business.
Rates and terms on your deposit will vary depending on the amount of the deposit and term length of your account.
For more information please call or visit any one of our branch locations during business hours; contact information listed at the bottom of this page.