Savings and Liquidity Management
As a growing small business ourselves, we understand your need to put your money to work. With that in mind, we have put together these interest bearing business products to help you grow your bank account while you grow your business.
For current interest rate information and a more detailed proposal that we know will meet your needs and exceed your expectations, call us at (502) 671-4800.
Business Money Market Account
- $1,000 minimum daily balance to avoid a $10 monthly service charge
- Earn higher rates with higher balances
- $0 – $2,499
- $2,500 – $4,499
- $5,000 – $9,999
- $10,000 – $24,999
- $25,000 and over
- 6 free withdrawals a month
- $5.00 fee for each additional withdrawal over 6 per month
Certificates of Deposit
- Guaranteed rates to match your anticipated needs
- Terms from 3 months to 5 years
- Interest compounds quarterly
- Automatically renewable
CDARS® – Certificates of Deposit Account Registry Service®
- Convenient way to enjoy full FDIC insurance on CD deposit amounts greater than the insured limits
- You will work with one bank – Eclipse
- Negotiate one rate with Eclipse for each CD maturity
- Receive one easy-to-read statement from Eclipse summarizing all of your CD holdings
- Reduces administrative burdens during tax reporting season
Business Savings Sweep
Eclipse can help you manage your working capital by putting your idle cash balances to work. After daily transactions are processed, funds above your target balance will automatically sweep into Eclipse's competitive Business Money Market Account. If necessary, funds are swept back to you checking account to cover daily transaction and avoid overdrafts. The automatic sweep eliminates manual transfers and lets you focus on other priorities.
Business Credit Sweep
Eclipse can help you manage your liquidity needs and reduce interest expense by linking your checking account to your line of credit. Based on your target balance, excess funds will automatically sweep at the end of day to pay down your line of credit. If you need to draw on your line of credit to cover daily transactions, the sweep will automatically transfer required funds to prevent an overdraft.
Combine both Eclipse's Savings Sweep and Credit Sweep to maximize your interest income and reduce interest expense while eliminating manual transfers.
The number of withdrawals may be restricted by Federal Regulations on all savings and time deposits.