Business Savings
Grow your money faster with our interest-bearing Business Savings accounts. Perfect for business owners looking to earn interest on liquid funds - any business structure is eligible. Easy access to your money gives you ultimate flexibility while you build your savings.
Explore your options to see the different features and benefits that come with each account:
| Features | Business Savings | Premium Business Savings |
| Minimum Deposit | $100 | $100,000 |
| Tiered interest rates with higher rates for higher balances | ✓ | |
| ATMs: Free access at more than 37,000 ATMs nationwide* | ✓ | ✓ |
| Statements: Quarterly by default or monthly with EFT transactions | ✓ | ✓ |
| Overdraft Protection: Optional service can be linked to business checking accounts | ✓ | ✓ |
| Monthly maintenance fee | $7.50 fee waived with a First Fed business checking account for the same business | None |
| Open Your Account | Open online or in a branch | Open via live chat, phone, or in a branch |
*Free access at First Fed ATMs and at more than 37,000 ATMs nationwide in the MoneyPass network. $2.50 fee applies for each withdrawal not made from a First Fed or MoneyPass network ATM.
Premium Business Savings
| Balance | Interest Rate | APY* | Method of Compounding | Minimum Balance to Earn APY |
|---|---|---|---|---|
| $0 - $99,999.99 | 0.03% | 0.03% | Daily | $0 |
| $100,000 - $249,999.99 | 2.47% | 2.50% | Daily | $100,000 |
| Over $250,000 | 2.96% | 3.00% | Daily | $250,000 |
Interest Rates Effective: 02/09/2024
Revised: 02/08/2024
*APY is Annual Percentage Yield. Minimum deposit to open is $100,000 of new money, but can have additional funds from existing First Fed deposits. New money is described as funds not previously held on deposit at First Fed within the last 30 days. APY assumes principal and interest remain on deposit for one year at the same interest rate. Fees could reduce earnings. Interest rates for the above accounts may change after account is opened.
Business Savings
| Balance | Interest Rate | APY* | Method of Compounding | Minimum Deposit to Earn APY |
|---|---|---|---|---|
| Any | 0.03% | 0.03% | Daily | $0 |
Interest Rates Effective: 02/09/2024
Revised: 02/08/2024
*APY is Annual Percentage Yield. APY assumes principal and interest remain on deposit for one year at the same interest rate. Fees could reduce earnings. Interest rates for the above accounts may change after account is opened.