Commercial Savings & Money Market Accounts

Commercial Money Market Account - Take advantage of money market interest rates and cash flow flexibility. Your business will benefit from tiered interest rates: the higher the balance in this account, the higher the rate of return you receive. There is no monthly balance requirement fee if you maintain the required minimum balance. With any money market account, by law, you are not permitted to make more than six preauthorized transfers to third parties or another account of yours, or a combination, per statement cycle. No more than three of the six preauthorized transfers may be made by check, draft, debit card, or similar order. You may make unlimited withdrawals or transfers in person, by mail, and through an ATM.

IOLTA - Providence Bank participates in the IOLTA program set up by the North Carolina State Bar for lawyers and law firms. Small or short-term funds are invested in an interest-bearing checking account. Interest earned, less a low monthly balance requirement fee, is sent to the North Carolina State Bar for use in public projects. No minimum balance is required.

Business Savings - Put your money to work for you with a Business Savings Account from Providence Bank. Your savings and the interest add up! Business Savings allows three withdrawals per statement cycle. There is no monthly balance requirement fee if your account maintains the low, required minimum daily balance.

Certificates of Deposit - Our Certificates of Deposit (CDs) offer competitive interest rates and short-or longer-terms that give you the flexibility you need to run your business. Receive a guaranteed interest rate for the term you select. Interest rates are tiered with higher balances receiving a higher rate of interest.