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Business Checking Rates

Checking Rates




Account Type Opening Deposit Minimum Balance1 Interest Rate Annual Percentage Yield
Public Funds Checking2 $100 All Amounts 0.05% 0.05% Locations
Small Business Checking3 $500 $1,500 and above 0.05% 0.05% Locations
Civic Checking $100 $1,500 and above  0.05% 0.05% Locations
IOLTA  $0 All Amounts  1.00% 1.01% Locations
Investment Checking4 $0 $0 to $2,499 0.15% 0.15%


$2,500 to $24,999 0.30% 0.30%


$25,000 to $99,999 0.30% 0.30%


$100,000 and above 0.30% 0.30%
Spectrum Select Business Checking $500 $0 to $2,499 0.10% 0.10% Locations


$2,500 to $9,999 0.15% 0.15%


$10,000 to $24,999 0.15% 0.15%


$25,000 to $74,999 0.15% 0.15%


$75,000 to $99,999 0.15% 0.15%


$100,000 and above 0.15% 0.15%
 
Deposit Rates are accurate as of 7/2/2020 and subject to change without notice. Checking and Savings are variable and may change after account is opened. Interest is compounded daily and will be credited to the account on the schedule statement date. Fees may reduce earnings. Daily balance is the amount of principal in the account each day. Average Daily Balance is determined by adding the full amount of principle in the account for each day of the period and dividing that figure by the number of days in the period. Contact our Customer Service Center or visit your local branch for further information about applicable fees and terms.
  1. The minimum balance must be maintained for one year in order to receive the Annual Percentage Yield.
  2. Account Owner must be a municipality or other public entity and is subject to approval for account collateralization in the sole discretion of BankFinancial.
  3. Also available as non-interest bearing account.
  4. A Spectrum Select or Spectrum Select Business Checking account is required with a minimum average balance of $15,000 in related checking, savings, money market and CD accounts or a minimum average balance of $100,000 in related loan accounts or $10 monthly fee will be charged.