Business Savings Accounts
Our business savings accounts are designed to help you secure and maximize your earnings while maintaining easy access to your funds. Whether you’re building an emergency fund, planning for future investments, or looking to earn interest on your surplus cash, our flexible savings solutions cater to your unique business needs.
Get the most out of your money with a Midwest BankCentre business savings account.
At Midwest BankCentre, we offer a variety of business savings accounts designed to help you grow your financial assets and achieve your long-term goals. All of our accounts provide competitive interest rates, flexible terms, and easy account access.
Small Business Savings
Best for small businesses, this account lets you earn interest on your business’s rainy day fund.
Business Money Market
Commonly used by businesses of all sizes and shapes, this account delivers immediate liquidity, while earning you interest on your available working capital.
Certificate of Deposit (CDs)
We offer a full range of CDs with higher interest rates than Money Market and savings accounts. Use these for cash you plan on keeping long term.
Business Money Market Account Information
Rates Effective as of 12/30/2024
Money Market Tiers | Interest Rate1 | APY* |
|---|---|---|
| $1,000.00-$49,999.99 | 0.50% | 0.50% |
| $50,000.00-$149,999.99 | 1.00% | 1.00% |
| $150,000+ | 1.24% | 1.25% |
*APY is the Annual Percentage Yield.
1Rates shown apply to daily balances indicated. The interest rate for Money Market products may change after account opening. Daily balance refers to the amount of the principal in the account each day.
Business Savings FAQs
Whether you’re setting up a new savings account or managing an existing one, our FAQs cover essential topics such as account features, interest rates, accessibility, and more. Learn how our savings solutions can help your business grow and achieve its financial goals. If you need further assistance, our dedicated support team is here to help.
What is the minimum deposit to open a business CD?
The minimum deposit to open a Midwest BankCentre business CD is $1,000. A minimum balance of $1,000 is needed to earn APY.
Is there a penalty for early withdrawals on business CDs?
If you withdraw money from your CD before the end of the term, an early withdrawal penalty will apply. However, Midwest BankCentre also offers a 7-month No Penalty CD that does not have an early withdrawal penalty.
How is a money market account different from a CD?
A business CD locks in your funds for a fixed term at a higher, fixed interest rate, with penalties for early withdrawal. A business money market account offers more flexibility, allowing access to funds with higher interest rates than savings accounts, but rates can fluctuate.
How do I open a business savings account?
All Midwest BankCentre business savings accounts, CDs, and money market accounts can be opened online, or visit a branch near you and one of our business banking specialists will guide you through the process.
Secure your business’s financial future.
Open a business savings account with Midwest BankCentre and start building a stronger financial foundation. Benefit from competitive interest rates and flexible access to your funds. If you need help opening an account or have questions, reach out to us and we’d be happy to assist.