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Business Saving AccountsPrint

Interested in opening a business savings account with The Bank of Glen Burnie (BofGB)? We have a variety of options that are compatible to your business saving needs. Become a BofGB Customer today: 
 
Best Way to Invest
Business Saving Account Options
 
 

 

Money Market

Open Account

  • $2,500 minimum opening deposit
  • Interest calculated daily and credited monthly
  • No monthly maintenance fee unless daily balance falls below $2,500; then only $7
  • Checks, debit card transactions and transfers from a Money Market account to another account or to third parties by preauthorization, automatic, telephone, or computer transfer are limited to six per statement cycle
  • An activity fee of $15 will be charged for each debit transaction in excess of six during a statement cycle
  • Monthly statements

 

Business Statement Savings

Open Account

  • $100 minimum opening deposit
  • No monthly maintenance fee unless daily balance falls below $100; then only $3
  • An activity fee of $10 will be charged for each debit transaction in excess of six during a statement cycle
  • Checks, debit card transactions and transfers from a Statement Savings account to another account or to third parties by preauthorization, automatic, telephone, or computer transfer are limited to six per statement cycle
  • Interest calculated daily and credited monthly
  • Monthly statements

 

Business Certificates of Deposit (CDs)

Open Account

  • $500 initial deposit with the exception of the 13 month and 15 month which require $2,500, 25 month which requires $5,000 and and special promotional rate CDs which require $10,000
  • Interest rate is fixed for the entire term of the certificate with the exception of all Bump-Up Certificate terms which are variable
  • Interest is calculated daily and credited monthly
  • Interest compounded in the account
  • Certificates automatically renew at current interest rate if not redeemed at maturity
  • Substantial penalty for early withdrawal (penalty does not apply to 30-day Certificates)

 

Business Retirement Account (IRA)

Open Account

  • Individual Retirement (IRA) Account
  • Simplified Employee Pension (SEP) Account
  • Traditional IRA
 

Interest Rates

All interest rates are set by The Bank of Glen Burnie® and are subject to change at any time based on market conditions.

Important Information: Fraud Protection | New Account Opening Information

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