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Small Business

Business Savings Account Options

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Best if...

Interest Rates (APY*)

Minimum to Open 

Key Features & Benefits

Service Charges

Tier

APY*

Business Savings   

  

You need a basic savings account

Less  than $2,500

$2,500-$24,999

$25,000 and greater 

0.10%

0.20%

0.30%

$100 

  • Three levels of interest. Interest accrues daily and is paid quarterly. 

  • Unlimited ATM and in-person withdrawals, up to six per month by other means

  • Monthly statement. Option to combine with your checking account statement.

  • Free 24/7 access via Northrim Online  and Telebanking  

  • $1.50 monthly service charge if average daily collected balance falls below $100

  • $2 excess withdrawal fee

Money Market

 
   

You need the option to write checks 

Less than $500

$500-$24,999 

$25,000 and greater 

0.05%

0.15%

0.25%

$1,000

  • Option to write checks

  • Three levels of interest. Interest accrues daily and is paid monthly. 

  • Unlimited in-person 
    withdrawals, up to six per month by other means (ATM access not offered)

  • Monthly statement. Check images available upon request.

  • Free 24/7 access via Northrim Online  and Telebanking     

  • $6 monthly service charge if daily minimum balance falls below $2,000

  • $2 excess withdrawal fee

Performance Indexed   

 

You have a larger amount to invest and want easy access to funds 

Less than $25,000

$25,000-$74,999

$75,000-$149,999

$150,000-$499,999

$500,000 and greater 

0.20%

0.39%

0.44%

0.50%

0.55%

$5,000 

  • Available for Overdraft Protection

  • Five levels of interest. Interest accrues daily and is paid monthly

  • Unlimited ATM and in-person withdrawals, up to six per month by other means

  • Monthly statement. Option to combine with your checking account statement.

  • Free 24/7 access via Northrim Online  and Telebanking  

  • $10 monthly service charge if average daily collected balance falls below $5,000

  • $2 excess withdrawal fee


*APY: Annual Percentage Yield
 APY effective 07/26/10 through 07/31/10
 Fees could reduce earnings, rates are subject to change.

 

 


Other Investment Options


Interested in a CD Investment?  
 

SEP IRA Plan
Perfect for small business owners or those who are self-employed.  SEP IRAs provide retirement benefits for the business owner and their qualified employees.  We offer both Variable-Rate Savings and Jump-UP CD  options for SEP IRAs. 

CDARS®
- Multi-million dollar deposits are eligible for full FDIC coverage

 
Elliot Cove Capital Management - Long-term investment portfolios from our affiliate


 

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