Business Interest Checking

Business Interest Checking

 

 

Welch State Bank’s Business Interest Checking account is designed for businesses that maintain a higher balance and for business entities allowed to earn interest on a checking.

 

Competitive interest

$50.00 Minimum to Open

$1,500 Daily Minimum Balance Requirement to avoid Monthly $6.00 Service Charge during Statement Cycle

1,000 Free Monthly Transaction Items

$.25 per Item Charge Over 1,000

Up to $10,000 Currency Deposited per Month Free

 

Rate Information – At our discretion, we may change the interest rates for this account.

Tier 1 – If your daily balance is $50,000.00 or more, the interest rate paid on the entire balance in your account will be 0.140% with an annual percentage yield (APY) of 0.14%.

Tier 2 – If your daily balance is $10,000.00 or more, but less than or equal to $49,999.99, the interest rate paid on the entire balance in your account will be 0.090% with an annual percentage yield (APY) of 0.09%.

Tier 3 – If your daily balance is $1,500.00 or more, but less than or equal to $9,999.99, the interest rate paid on the entire balance in your account will be 0.040% with an annual percentage yield (APY) of 0.04%.

Tier 4 – If your daily balance is $0.01 or more, but less than or equal to $1,499.99, the interest rate paid on the entire balance in your account will be 0.040% with an annual percentage yield (APY) of 0.04%

 

 

Terms and Conditions

Fees may reduce earnings.

Compounding frequency – Interest will be compounded monthly.

Crediting frequency – Interest will be credited into this account monthly.

Effect of closing an account – If you close your account before interest is credited; you will not receive the accrued interest.

Daily balance computation method – Interest is calculated by the daily balance method which applies a daily periodic rate to the balance in the account each day.

Accrual of interest on noncash deposits – Interest will begin to accrue on the business day you deposit noncash items (for example, checks) into your account.

Minimum balance to open – The minimum balance required to open this account is $50.00.

Deposit limitations – You may make an unlimited number of deposits into your account.

Bonus – You may receive a Thank You gift as a bonus provided at account opening. A premature account closing fee of $10.00 will be charged if the account is closed within 90 days of account opening date.

Additional Terms – The following additional terms apply to this account: Overdraft fees apply to overdrafts created by check, in-person withdrawal, ATM withdrawal, or other electronic means: provided, however, overdraft fees created by ATM or everyday debit card transactions will not apply unless the account owner affirmatively consents to the overdraft service for such transactions.

 

Lender - Steve Owens Location - Miami, OK

This position is responsible for discussing client's needs to recommend the best loan products for them while also effectively promoting the sale of bank products and services. The ideal candidate will be an outgoing, enthusiastic self-starter, and have excellent attendance. Candidate will also pursue new loan and deposit relationships as well as maintain or enhance existing relationships.

Please contact Beth Lowery at 918-788-3373 , stop by for an application or send resume to:

Welch State Bank Attn: Beth Lowery | PO Box 129 | Welch, OK 74369 | blowery@welchstatebank.com

 

Portfolio Manager | Welch Location | Welch, OK

This position is responsible for assisting our Loan Officers in preparing loan documentation and other various assisting duties.

The ideal candidate will be self‐motivated, confident, detail‐oriented, and analytical. They must also have the ability to multi‐task and manage time effectively while having professional demeanor, personal integrity, and have excellent attendance.

Please contact Beth Lowery at 918-788-3373 , stop by for an application or send resume to:

Welch State Bank Attn: Beth Lowery | PO Box 129 | Welch, OK 74369 | blowery@welchstatebank.com