Basile Bank

Business Savings

Every business succeeds by allocating its resources wisely. That's why we've developed a series of powerful financial products that make your money work as hard as you do. From convenient savings accounts to jumbo certificates of deposit, your business can depend on a rock-solid investment.

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Business Savings

Minimum balance to open the account: $100.00
Service Charge per Average Daily Balance:
- $3.00 if the account balance falls below $800.00 any day during the statement cycle.
Fees:
- A per item fee of $1.00 will be charged for each debit transaction (withdrawal, automatic transfer or payment out of this account) in excess of three during a statement cycle.
Rate Information:
- Your interest rate and annual percentage yield may change.
- We may change the interest rate on your account at any time.
- At our discretion, we may change the interest rate on your account at any time.
- Interest will be compounded every quarter. Interest will be credited to your account every quarter.
- We use the daily balance method to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.
- Interest begins to accrue on the first business day after the banking day you deposit non-cash items (for example, checks).
Effect of closing an account: If you close your account before interest is credited, you will not receive the accrued interest.
Transaction Limitations:
- Transfers from a Regular Savings account to another account or to third parties by preauthorized, automatic, or telephone transfer are limited to six per month with no transfers by check, draft, debit card, or similar order to third parties.

Basile State Bank is participating in the FDIC's Transaction Account Guarantee Program.

All funds in a "noninterest-bearing transaction account" are insured in full by the Federal Deposit Insurance Corporation from December 31, 2010, through December 31, 2012. This temporary unlimited coverage is in addition to, and separate from, the coverage of at least $250,000 available to depositors under the FDIC's general deposit insurance rules.

The term "noninterest-bearing transaction account" includes a traditional checking account or demand deposit account on which the insured depository institution pays no interest. It also includes Interest on Lawyers Trust Accounts (“IOLTAs”). It does NOT include other accounts such as traditional checking or demand deposit accounts that may earn interest, NOW accounts, money-market deposit accounts.

For more information about temporary FDIC insurance coverage of transaction accounts, visit www.fdic.gov.