Business Savings Account Options
Sound Community Bank provides you with reliable and easily accessible savings account options. Every business has different saving needs, so we provide a variety of options to fit your goals.
To obtain any of these products simply call us at 800-458-5585, email us, apply online or visit one of our branch locations.
Business Savings
Earn a competitive interest with a Sound Community Bank Savings Account. Access your account information 24/7! Set up an automatic savings plan to build your savings faster or to provide overdraft protection on your checking account.- Access to online Business Internet Banking
- Competitive interest calculated on daily balance and paid monthly
- Low minimum balance to earn interest and avoid monthly service charge
- Download your financial information into Quicken or Microsoft Money
Business Money Market Account (BMMA)
Business Money Market Accounts earn a premium rate for the premium relationship! You have the power to write checks on this account, make withdrawals over the phone and in person. Access your account 24 hours a day via Online Banking or with our 24 Hour Telephone Banker.- Premium Interest Rate
- Free Online Banking/Business Internet Banking
- Free 24 Hour Telephone Banker
Certificate of Deposit
Empower your future by opening a competitive investment account. Secure a great rate and guarantee a high return on a Sound Certificate of Deposit. This is the best way to save if you are looking for a higher yield and you don't need the funds during the term of the CD. You lock in a rate so even if the rates drop, you earn a guaranteed return. Minimum balance is $1,000.- Access to Business Internet Banking/Online Banking
- Terms available from three months to five years
- CDs may be used as collateral on a loan or a VISA®
- Free 24 Hour Telephone Banker
- Automatic renewal is convenient
- 18 Month Bump CD available - secure your rate with the option to 'bump' it one time providing you the opportunity to earn an even higher rate. This CD allows deposits anytime ($100 minimum)
Simplified Employee Pension (SEP)
The simplified retirement plan for your small business or sole proprietorship! As a business owner, whether incorporated or not, you may establish a SEP plan. Sole proprietors and partnerships can have SEP plans, even if there are no employees. Each year, you can contribute a certain percentage of each eligible employee's compensation directly to the employee's traditional IRA. For more details please contact a Customer Service Representative.-
Plan Limits - Contribute up to 25% of compensation for each eligible employee.
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Tax Deductible - Yes, dollars you contribute on behalf of yourself and your employees, within the limits, are generally deductible as a business expense.
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Flexible - No annual contribution is required and as the employer you have until the company's tax filing date, with extensions, to make contributions.
Automatic Savings Plan
Want to make savings even easier? Set up an automatic transfer from your Sound Community Checking account to one of your Sound Community Bank Savings or Money Market account. You can also arrange for a direct deposit from your paycheck to be deposited to Sound Community Bank accountsTo obtain any of these products simply call us at 800-458-5585, email us or visit one of our branch locations.
