Business Deposit Accounts

Business Deposit Account Descriptions

Home Savings offers a wide range of deposit accounts for businesses.

Contact a Business Banker

Business Savings Accounts

Home Savings makes it easy to put your money to work for your business, with business savings accounts designed to help your business savings grow. From traditional savings to higher-yield money market accounts, we have a wide range of business deposit account options perfect for building or maintaining your business assets.

Business Savings Account

  • Open with just $100
  • Low monthly service fee waived with minimum $100 daily balance1
  • Competitive tiered interest earnings

Business Market Rate Account

  • Open with $2,500
  • Savings account with check writing privileges
  • Low $100 balance requirement to earn interest
  • Monthly service fee waived with $10,000 daily balance2
  • Higher-yield, tiered interest earnings

1 Monthly service fee of $5.00 if the account balance falls below $100.00 any day of the statement cycle.
2 Monthly service fee of $10.00 if the account balance falls below $10,000.00 any day of the statement cycle.

Public Funds Accounts

Home Savings provides banking solutions for government entities and public agencies at the local level.

Public Funds Checking

  • $100 to open
  • 200 free deposit items and 200 free checks cleared per month*

Public Funds Interest Checking

  • $100 to open
  • Competitive earnings and low fees

Public Funds Certificate of Deposit (CD)

  • Open with just $500
  • Secure fixed rate for specified term
  • Negotiated rates and terms

* .40 per item after free transactions.

Employee Retirement Savings Options

Providing a variety of retirement savings and health savings accounts is just another way Home Savings can help your business be successful. Regardless of the size of your business, we have retirement options that fit. Home Savings' SEP IRA and SIMPLE IRA retirement plans can grow with your business. They're also very affordable for you as a business owner and easy for small businesses of any size to manage. The Health Savings Account (HSA) is a great way to provide employees with a means to save for medical expenses in conjunction with employer-provided health plans.

SEP IRA (Simplified Employee Pension)

  • Employer contributions are tax-deductible
  • Plan contribution level can vary from one year to the next
  • The IRA belongs to individual employee
  • Employer funded
  • No employer responsibility for plan administration once the plan is established
  • No administration costs or IRS reporting for you as the employer

SIMPLE IRA (Savings Incentive Match Plan)

  • Both employer and employees make contributions
  • Contributions are tax-deductible
  • The IRA belongs to individual employee
  • Designed for small business owners
  • Low administrative costs
  • No IRS reporting requirements for you as the employer once the plan is established

HSA (Health Savings Account)

  • $50 to open
  • Designed to help employees save for medical expenses
  • Supplements employer-paid high-deductible health plan (HDHP)
  • Special debit card to use for these expenses
  • Mobile and online banking access*

* Message and data rates may apply.

HOME@Work Workplace Banking

HOME@Work is a workplace banking program that provides special banking offers to the employees of participating businesses. It all starts with a Simply Checking account. Employees can then add on a savings account with a very competitive rate, enjoy rate discounts on loans and benefit from a wide range of services.

Employer Benefits

Employers benefit from the ability to reduce payroll costs and add value to their employee benefits offerings. Providing the option for employees to enroll in HOME@Work enhances your company benefit offerings.

  • Provide something of financial value to help your employees make the most of their hard-earned dollars.
  • Help employees with reduced fees on mortgage closing costs and discounted consumer loan products.
  • Demonstrate your interest in employees' financial success by providing free on-site financial education sessions.

Through HOME@Work, Home Savings can provide direct payroll deposit for your employees. We can help get you set up for direct deposit if you're currently not able to use it.

  • Reduce your payroll costs
  • Reduce check printing costs
  • Reduce check reconciliation time

Employee Benefits

Your employees will appreciate that you value them enough to offer them a banking program that can help them make the most of their paycheck. In addition to the special account offerings, Home Savings bankers can provide financial education sessions to your employees at your request. Our qualified bankers can present information on buying a home, saving for retirement, maintaining good credit, and many other topics.

   Contact a Banker

Fill out this brief form, and a qualified Home Savings business banker will contact you within one business day to answer your questions.

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