Business Savings

Saving money is a great strategy for everyone, including businesses.

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Start saving with our Business Savings Solutions

Whether you’re saving for a major purchase, seeking a financial cushion, or preparing to expand and grow your business, we can help your business find the right account for your needs and provide guidance along the way. Easily track and organize your account information with free online and mobile banking, eStatements, and NPB Alerts.

Connect with us today to experience personal community banking by the golden rule.

Get Started today by contacting us at 276-873-7000 or finding your closest NPB branch today!

Business Savings

When you’re ready to start a savings plan for the unexpected, a Business Savings account allows you to earn interest and gives you the peace of mind that your funds are available when you need them.

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Money Market

Make the most from your investments by taking advantage of a tiered rate account that earns a higher rate on higher balances.

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Health Savings Account

Give your employees the opportunity to take control of their healthcare savings with an HSA from New Peoples Bank. This will allow them to make the decisions that best fit themselves and their family. Offering a Health Savings Account (HSA) program to your employees may help them pay for qualified medical expenses such as co-payments, some over-the-counter medications and even health insurance deductibles. Since HSA balances continue to roll over from year to year, your employees may be able to budget their health expenses and save to cover other medical expenses if required. You may choose to contribute to your employees’ HSA as an added benefit.

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Certificates of Deposit

Enjoy earning interest with peace of mind knowing your investment is secure with FDIC insurance up to $250,000 and not subject to market fluctuations. Whether your business goals are long-term or short-term, a CD can provide the flexibility your business needs while earning a competitive, fixed rate.

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IntraFi Network Deposits

Expand your peace of mind with the ability to insure investment amounts over $250,000 with FDIC insurance. By choosing IntraFi Network Deposits (formerly known as CDARS or Certificate of Deposit Account Registry Service) through NPB, you allow your money to work for the local community, while keeping your funds safe, secure and working for you.

Let NPB eliminate the time and hassle of manually consolidating interest disbursements and 1099 statements with multiple banks. There is no need to rate shop when you can conveniently earn one competitive rate on your entire investment without lifting a finger. Acting as custodian, the bank places the available funds ($10,000 minimum required) into CD's using multiple banks within a special network via IntraFi Network’s Certificate of Deposit Account Registry Service. So investments can be seen and read as if they were invested with NPB alone, you receive statements that list all issuing banks that your money is distributed to, along with interest earned, maturity dates and balances.

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Business Checking

You work hard for your business. Find the right account to better manage and improve your business today! New Peoples Bank has the right checking or deposit account to help you grow your business.

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Retirement Planning

Want to explore retirement planning options for you and your employees? Talk to a New Peoples Financial Services Expert today to explore options and find the right fit for you.

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Compare Business Savings Accounts

 

Business Savings

Money Market Deposit AccountHealth Savings AccountCertificate of DepositIntraFi Network Deposits
Amount to Open $25 $1,000 $100 $500  $10,000 minimum
Interest Bearing Earn interest on any balance  Earn interest on balances of $1,000 or more  Earn interest on any balance; interest earned is tax-free  Earn interest on balances of $500 or more1   Earn interest on balances of $10,000 or more
Interest Payment Options Interest is paid to the account quarterly Interest is paid to the account monthly Interest is paid to the account monthly  Interest can be compounded, deposited to a checking or savings account, or paid by check Interest can be compounded, deposited to a checking or savings account, or paid by check
Contributions / Deposits Deposits can be made at any time. Deposits can be made at any time. Yearly contributions are limited to health plan’s deductible; subject to a yearly individual & family contribution limit.
Persons aged 55 and older can make additional contributions.		 Fixed investments of a specific sum for a specific period of time. You may not add money to these certificates and they are not negotiable.  Fixed investments of a specific sum for a specific period of time. You may not add money to these certificates and they are not negotiable.

FDIC Insurance

 Up to $250,000 Up to $250,000 Up to $250,000 Up to $250,000  Amounts over $250,000

Statement Options

 Quarterly Statement or Combined with Monthly Checking Account Statement Monthly Statement Monthly Statement Quarterly Statement  Monthly Statement
Service Charges / Monthly Fees Avoid $5 account fee per statement cycle with eStatements or $200 average daily balance $5 if average daily balance is below $1,000 N/A  N/A N/A
Available Investment Terms N/A N/A N/A 7 Days to 60 Months2 4-Week, 13-Week, 26-Week, 52-Week, 2-Year, 3-Year3
Early Withdrawal Penalty N/A N/A N/A You can withdraw funds prior to maturity by paying an early withdrawal penalty of 3 months interest on any certificate with a term of 3 months or more. On certificates with terms of less than 3 months, all interest will be forfeited

You can withdraw funds prior to maturity by paying an early withdrawal interest penalty according to the terms of the certificate: 4-Week: 28 Days, 13-Week: 90 Days, 26-Week: 90 Days, 52-Week: 180 Days, 2-Year: 360 Days, 3-Year: 540 Days

1Interest can be compounded, deposited to a checking or savings account, or paid by check.
2You can withdraw funds prior to maturity by paying an early withdrawal penalty of 3 months interest on any certificate with a term of 3 months or more. On certificates with terms of less than 3 months, all interest will be forfeited.
3Penalties for early withdrawal may apply. Interest will accrue daily up to the date, but not on the maturity date. If the maturity date should fall on a non-business date, then the funds will be paid out the following business day.
 

Small Business Lending

Did you know that we have special financing programs for your small business? 

Explore Business Loans