Business Statement Savings
- Minimum balance to open is $10.00
- No minimum balance requirement
- Accrues interest according to set rates (see rates)
- Free Online Banking
- Free Online Bill Pay
- Free Online Statements
- No more than 6 withdrawals/transfers per month/statement period & no more than 3 of the 6 withdrawals may be by check, draft, or debit card
Certificate of Deposit (CD)
CDs from Bank of Hazelton provide a safe, flexible way for your business to generate competitive returns on your cash. Our CDs are FDIC-insured and offer competitive interest rates at a variety of terms. (See terms and rates)
Choose a Bank of Hazelton Certificate of Deposit (CD) in 4 Easy Steps
Certificates of Deposit (CDs) provide customers a “safe haven” for parking their money while accumulating interest. Putting money into a Bank of Hazelton certificate of deposit and getting it out are easy, so depending on how long the term of your CD, it offers “liquidity” in that your funds are not locked up for too long. Our CDs are affordable to even the smallest investor. And while other investment options (such as stocks or mutual funds) may offer higher returns, they also carry higher risks and fees. In contrast, bank CDs guarantee the safety of the principal, plus the interest you’ve earned, because they are FDIC insured.
How do you invest in a certificate of deposit? Just follow these 3 steps:
1. Decide how long you want to invest a specific sum of money.
CDs come with a wide variety of terms, which means you can adapt them to your needs. If you have money you want to “park” for just a short period, determine when you will need the money again. Will you have to pay taxes in three months? Remember, if you have to withdraw the funds before maturity, early withdrawal penalties may apply.
2. Remember that typically, the longer the term, the higher the interest rate for the certificate of deposit.
If you won’t need the money for some time, choose longer terms.
3. If you think rates are going to go up, you may want to choose a short-term certificate of deposit.
During a time of fluctuating rates, you may want to choose a shorter term in case rates climb significantly higher.
If you need help choosing which business savings account or CD would be best suited for your business, you can call or stop in and talk to one of our business banking professionals that will help guide you to the one that best suits your businesses needs and goals.
To open your business savings account or CD, stop by the Bank of Hazelton location at 363 Main Street, Hazelton, North Dakota. Or get started by calling us at 701-782-6295 for account openings by phone. Call and talk to a business banking professional during our Customer Service hours, 8:30 AM to 4:00 PM Monday - Friday.