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Business Savings Accounts

Silver Lake Bank has developed savings accounts to meet the needs of various sized businesses.

Interested in opening an account?
Send an email, call, or visit a Silver Lake Bank branch near you

Regular Savings

  • For small businesses needing a basic savings account
  • No quarterly service charge if ALB1 of $200 or more is maintained. If ALB1 falls below $200, a $9 quarterly service charge applies ($3 each month ALB1 less than $200).
  • Accounts with electronic activity receive monthly statements. No monthly service charge if ALB1 of $200 is maintained; otherwise, $3 monthly service charge is assessed.
  • Subject to regulatory withdrawal limitations2.
  • Up to 3 withdrawals per month free. Additional withdrawals are $1 each. No fee for ATM3 withdrawals and Internet Banking transfers.
  • Interest compounded and credited quarterly on month end statement dates in February, May, August, and November.

No service charge for Church Savings Account.

Sterling Money Market Advantage

Features & Fees

  • Provides our competitive market interest rate.
  • No monthly service charge if ALB1 is $2,000 or more. A $5 charge will apply if the ALB1 falls below $2,000.
  • Subject to regulatory withdrawal limitations2.
  • No fees for ATM3 and in person transactions. All other type withdrawals posted per month in excess of 6, are $2 each.
  • Free Sterling checks.
  • Interest is compounded and credited on each monthly statement date.

The Health Savings Account (HSA)

HSAs are used to pay health care costs of participants enrolled in a high deductible insurance plan specifically approved for their use. If your company is offering employees high deductible insurance plans, Silver Lake Bank can assist by offering HSAs to your employees. The money deposited in the HSA, as well as the earnings, is tax-deferred. Individuals can use the funds to pay for qualified medical expenses tax-free. Unused balances earn interest and will roll over from year to year.

Features & Fees

  • Low one-time $15 set-up fee per employee
  • Monthly service charge is $5. When the average ledger account balance is $2,500 or greater, your service charge is $0. 
  • Earn interest by receiving tiered premium rates on the balance.
  • 1st set of 50 checks is free
  • eStatement is free. Paper statements are $3 per statement period.
  • Free debit card
  • Employee online access to their account account with free bill pay services4.
  • Friendly and flexible staff ready to assist
  • Annual summary contribution and distribution information provided.

      
1 ALB = Average Ledger Balance
2 Regulatory Limitations - Unlimited access to account when made in person or through ATM withdrawals. Six preauthorized/automatic funds transfers (which includes checks) are allowed per month. No checks can be written on regular savings.
3 No charge at SLB ATMs or other Transfund Surcharge-free ATMs. See complete list at www.silverlakebank.com
4 Bill Payment = Silver Express Online Bill Payment for business accounts has fees of $5 per month and $0.50 per item.