Business Savings

Savings

Savings solutions that grow your business

Andover Bank means business. And no matter your savings goals, we have your back with easy-to-manage access to your funds and competitive interest rates to grow your excess cash.

So while you're busy running your business, Andover Bank is working hard behind the scenes to deliver peace of mind.

 

Compare Statement Savings Preferred Money Market Business Money Market

Minimum to Open Account

$0

$0

$0

Monthly Maintenance Fee

$3

$10

$15

Required Balance to Avoid Maintenance Fee

$100

$1,500

$50,000

Earns Interest

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Withdrawal Limit

6 per statement cycle;
$5.00 fee per withdrawal thereafter

6 per statement cycle;
$15.00 fee per withdrawal thereafter

6 per statement cycle;
$15.00 fee per withdrawal thereafter

Other Features

 

Tiered interest delivers higher interest for higher balances. Interest paid monthly

Tiered interest delivers higher interest for higher balances. Interest paid monthly

 

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Business Statement Savings

Minimum to Open Account

$0

Monthly Maintenance Fee

$3

Required Balance to Avoid Maintenance Fee

$100

Earns Interest

Checkmark
See Rate

Withdrawal Limit

6 per statement cycle;
$5.00 fee per withdrawal thereafter

Learn more

Preferred Money Market

Minimum to Open Account

$0

Monthly Maintenance Fee

$10

Required Balance to Avoid Maintenance Fee

$1,500

Earns Interest

Checkmark
See Rate

Withdrawal Limit

6 per statement cycle;
$5.00 fee per withdrawal thereafter

Other Features

Tiered interest delivers higher interest for higher balances. Interest paid monthly

Learn more

Business Money Market

Minimum to Open Account

$0

Monthly Maintenance Fee

$15

Required Balance to Avoid Maintenance Fee

$50,000

Earns Interest

Checkmark
See Rate

Withdrawal Limit

6 per statement cycle;
$15.00 fee per withdrawal thereafter

Other Features

Tiered interest delivers higher interest for higher balances. Interest paid monthly

Learn more

Statement Savings Account

A simple, straightforward savings option that pays interest on daily balance.

  • Account compounds quarterly
  • $3 per month service fee for account balances below $100
  • No fee if account owner is under 18 or over age 60
  • Up to 6 withdrawals per month (a $5 fee applies for each additional withdrawal)

Preferred Money Market

Our Money Market account is perfect for your larger balances. With tiered interest, the higher your balance, the more you earn.

  • Tiered interest compounded monthly
  • $10 per month service fee for account balances below $1,500
  • Limited check writing ability**

Business Money Market

Our Money Market account is perfect for your larger balances. With tiered interest, the higher your balance, the more you earn.

  • Tiered interest compounded monthly
  • $15 per month service fee for account balances below $50,000
  • Limited check writing ability**

**You may make six (6) withdrawals or transfers to another account of yours or to a third party by means of a pre-authorized or automatic transfer or telephone order or instruction, computer transfer or by check, draft, debit card or similar order to a third party. If there are more than 6 withdrawals in any statement cycle there is a $15 per withdrawal fee starting with the 7th withdrawal.

Ready to get started, or need help choosing the right account?

Give us a call at (844) 259-5473 or stop by one of our banking centers to meet with a business banking specialist and find the account that best maximizes your business savings.