Business

Business Deposit Rates

Business accounts at a great rate.

 
View our current rates for business deposit accounts. Florence Bank is dedicated to helping Businesses in Western Massachusetts strengthen their finances.
Rates as of 10/26/2020
All rates subject to change without notice.
Cash Management Checking Annual Earnings Credit Rate Minimum Deposit To Open Minimum Balance To Obtain The Earnings Credit Rate
Account Details 1.25% $100 $0.01
*Credit accumulated each month will only be applied to that month's service charges. The earnings credit rate may change after the account is opened.
Rates as of 10/26/2020
All rates subject to change without notice.
Product Name Annual Percentage Yield (APY) Annual Interest Rate Minimum Deposit To Open Minimum Balance To Obtain The APY
Business Interest Checking Account-
Tier 1
0.01% 0.01% $100 $0.01
Business Interest Checking Account- Tier 2
0.05% 0.05% $100 $100,000
Business Interest Checking Account-
Tier 3
0.10% 0.10% $100 $250,000
Business Interest Checking Account-
Tier 4
0.10% 0.10% $100 $500,000
Business Interest Checking Account-
Tier 5
0.10% 0.10% $100 $1,000,000
*Fees may reduce earnings. The interest rate and APY may change after the account is opened.
Rates as of 10/26/2020
All rates subject to change without notice.
IOLTA Checking Annual Percentage Yield (APY) Annual Interest Rate Minimum Deposit To Open Minimum Balance To Obtain APY
Account Details
0.75% 0.75% $100 $10
*Fees may reduce earnings. The interest rate and APY may change after the account is opened.
Rates as of 10/26/2020
All rates subject to change without notice.
Client Escrow Savings Annual Percentage Yield (APY) Annual Interest Rate Minimum Deposit To Open Minimum Balance To Obtain APY
Account Details 0.05% 0.05% $100 $10
*A Client Escrow Account is required to open the Client Escrow Savings Account. Fees may reduce earnings. The interest rate and APY may change after the account is opened.
Rates as of 10/26/2020
All rates subject to change without notice.
Business Money Market Annual Percentage Yield (APY) Annual Interest Rate Minimum Deposit To Open Minimum Balance To Obtain APY
Tier 1 0.05% 0.05% $1,000 $10
Tier 2 0.05% 0.05% $1,000 $25,000
Tier 3 0.10% 0.10% $1,000 $100,000
Tier 4 0.15% 0.15% $1,000 $500,000
*A Client Escrow Account is required to open the Client Escrow Savings Account. Fees may reduce earnings. The interest rate and APY may change after the account is opened.
Rates as of 10/26/2020
All rates subject to change without notice.
Term Annual Percentage Yield (APY) Annual Interest Rate Minimum Deposit To Open Minimum Balance To Obtain The APY
3 Month CD 0.05% 0.05% $500 $500
6 Month CD 0.15% 0.15% $500 $500
7 Month Easy-Out CD 0.10% 0.10% $5,000 $500
12 Month CD 0.20% 0.20% $500 $500
17 Month Easy-Out CD 0.15% 0.15% $5,000 $500
18 Month CD 0.20% 0.20% $500 $500
24 Month CD 0.30% 0.30% $500 $500
30 Month CD 0.35% 0.35% $500 $500
36 Month CD 0.40% 0.40% $500 $500
48 Month CD 0.50% 0.50% $500 $500
Maximum of $1,000,000 is allowed per account.
 
Certificates of Deposit earn a fixed interest rate for the entire term. A penalty may be imposed for withdrawals prior to maturity. Fees may reduce earnings on these accounts.
 
 
 
 
 

 
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