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Business Accounts & Services

Business Savings Accounts

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

Sterling Money Market Savings

Features & Fees

  • Provides our competitive market interest rate.
  • No monthly service charge if ACB1 is $2,000 or more. A $5 charge will apply if the ACB1 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.

Sterling Money Market Advantage

In addition to the Sterling Money Market Account features and benefits listed above, customers meeting relationship balance requirements will enjoy Sterling Money Market Advantage by receiving tiered premium rates of interest on Sterling Money Market Account balances.

Features & Fees

  • Balance requirements consist of combined deposit and/or loan balances of $25,000 or greater4
  • A Silver Lake Bank checking account must be maintained with a minimum of two transactions per month, deposits or withdrawals.
  • 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.
  • Monthly eStatement is free. Paper statements are $2 per statement period.
  • Interest 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 collected 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
  • Monthly eStatement is free. Paper statements are $2 per statement period.
  • Free debit card
  • Employee online access to their account account with free bill pay services5.
  • Friendly and flexible staff ready to assist
  • Annual summary contribution and distribution information provided.

      
1 ACB = Average Collected 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 passbook savings.
3 No charge at SLB ATMs or other Transfund Surcharge-free ATMs. See complete list at www.silverlakebank.com
4 To determine balance eligibility, total average collected deposit and current loan balances from prior month end will be used.
5 Bill Payment = Silver Express Online Bill Payment for business accounts has fees of $5 per month and $0.50 per item.