Colonial Business Savings
Your Business Deserves a Reliable Partner
Experience the benefits of working with the expert business
team at 1st Colonial Community Bank for your business savings account. As a
community bank deeply rooted in Southern New Jersey and Southeastern
Pennsylvania, we understand the unique needs of local businesses. Our Colonial
Business Savings account is designed to help business owners like you prepare for
future expansion, make large purchases, or build an emergency fund.
Contact Our Business Team
Secure Your Business Future with a Savings Account
A business savings account is more than just a safety
net—it's a tool for growth. With our high-yield business savings account, you can
earn interest on your funds while keeping them readily available. Whether
you're saving for a new location, a major equipment upgrade, or just want to
have a cushion for unexpected expenses, our business savings account offers the
flexibility and security you need.
Designed with Your Business in Mind
Our Colonial Business Savings account comes with a host of
features tailored to your business needs:
- Initial Deposit: Get started with just $100.
- Monthly Maintenance Fee: A nominal fee of $10 to keep your
account active.
- Minimum Balance: Maintain a minimum daily balance of $1,000
to avoid the maintenance fee.
- Withdrawals: Make up to 10 withdrawals per month.
- Additional Withdrawals: A fee of $5 for each withdrawal
beyond the initial 10.
- Interest Bearing: Your money works for you with our
interest-bearing account.
- Statement Cycle: Stay informed with our monthly statements.
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Your Partner in Business Growth. Take the Next Step.
Ready to take your business to new heights? Contact the
expert business team at 1st Colonial Community Bank today. With locations in
Collingswood, Westville and Limerick, PA, we're always within reach. Let's
start building your business's future together.
Frequently Asked Questions About Business Savings Accounts
What is a business savings account?
A business savings account is a type of bank account that
allows a business to earn interest on its funds while keeping them safe and
accessible.
Why should I open a business savings account?
A business savings account can help you manage cash flow,
save for future expenses, and earn interest on your funds.
How can I open a business savings account?
Contact our expert business team today to set up an
appointment. We're here to help you every step of the way.
What documents do I need to open a business savings account?
To open a business savings account, you typically need proof
of business registration, your Employer Identification Number (EIN) or Social
Security Number (SSN) if you're a sole proprietor, a business license, any
ownership agreements, and organizational documents such as Articles of
Incorporation or Articles of Organization. Please note that requirements may
vary, so it's best to contact us for the most accurate information.
How is the interest on my account calculated?
Interest is calculated using the daily balance method, which
applies a daily periodic rate to the collected balance in the account each day.
Contact Our Business Team