Business Savings Product Comparison

Business Money Market

Evolve Money Market

Certificates of Deposit

Minimum Balance To Open

$1,500

$1,000

$1,000

Monthly Service Fee

$20

Avoid by maintaining a minimum average daily balance of $1,500 per statement cycle

$25 

Avoid by maintaining a minimum daily balance of $10,000 per statement cycle

No

Earns Interest

Yes

Yes

Yes

Fixed/Variable Rate1

Variable1

Variable1

Adjusts with Prime Rate

Fixed

Tiered Interest

Yes

Yes

No

Term Length

-

-

Varies; 3 Months – 60 Months

Early Withdrawal Penalty Applies

No

No

Yes

Mobile Remote Deposit Capture Available2,3

Yes

Yes

No

Remote Deposit Capture Available2

Yes

Yes

No

Additional Business Service Available2

Yes

Yes

Yes

Additional Restrictions

Yes4

Yes4

No

Access to Business Online Banking2

Yes

Yes

Yes

Free Access to Business Bill Pay2

Yes

Yes

No

Free eStatements

Yes

Yes

No

Mobile Banking and Alerts2,3

Yes

Yes

Yes

Free Business MasterCard® Debit/ATM Card

Yes

Yes

No

Unlimited ATMs Worldwide

Yes

Yes

No

ApplePay™ Available3

Yes

Yes

No

Toggle Available3

Yes

Yes

No

  

Learn More

Learn More

Learn More

1Rate is variable and subject to change after the account is opened. The initial interest rate on the Evolve Money Market is based on the balance in your account. All balances less than $100,000 have an APY that is 12.5% of the then current published Wall Street Journal (WSJ) prime rate. All balances $100,000 or greater have an APY that is 25% of the then current published WSJ prime rate. Subsequent rates will adjust on the business day after the prime rate is published in the WSJ. 2Subject to approval. 3Data connection is required. Availability may be affected by your mobile carrier’s coverage area. Your mobile carrier’s message and data rates may apply. Consult your wireless plan or provider for your specific plan details. 4Federal regulations limit the number of preauthorized automatic, telephone transfers (including facsimile or electronic data transfer), and transfers to third parties, including checks or point of sales transactions, to six (6) per monthly statement cycle. 

Additional terms and conditions or fees may apply to the product described. Please contact us or visit one of our branches for full account details. 

Apple® and the Apple logo are trademarks of Apple, Inc., registered in the U.S. and other countries. Apple Pay™ is a trademark of Apple, Inc. NewDominion Bank is not affiliated with Apple® or any of its subsidiaries.