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For those businesses that don't have a need to write checks or would like to earn interest on their money, we have the following options available for business savings accounts.
Business Savings Accounts
- No service charges ($2 monthly service charge if balance falls below $100)
- Interest accrued daily paid quarterly
- Quarterly statements
- Withdrawal limits apply*
Money Market Savings Accounts
- Pays money market tiered rates based on deposit balance
- Interest rate subject to change at bank's discretion
- Withdrawal, transfer limitations apply according to regulations*
- Bank reserves right to require 7 days’ notice of withdrawal
*Telephone transfers and pre-authorized automatic or electric fund transfers are limited to a maximum of 6 per month $2 service charges for excessive withdrawals.
Health Savings Accounts
For those employers who have a high deductible health insurance plan, we offer a health savings account for you and your employees. Consult your tax advisor with questions.
- Tiered rates
- Free online banking available
- Electronic statements provided
- ATM/debit card available
Click here to view the Minnesota Lakes Bank Online Access Agreement and Disclosure Statement.