Attention Deposit Account Customers:

Effective September 2, 2025, you will no longer be able to use your GSB debit/ATM card to deposit at non-GSB owned ATMs. You will still be able to deposit at the GSB owned ATMs located at each of our four (4) branches. You can also conveniently deposit checks via Mobile Deposit through our mobile app. If you are not currently set up for Online or Mobile Banking, stop in or contact any of our branches and a personal banker will assist you.

To learn more about how to use Mobile Deposit, visit our Online Banking Education Center.

We understand that this may change how you deposit, however, this decision has been made due to the increasing level of risk associated with check fraud deposits occurring at ATMs.

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Business Savings

Business Savings & Corporate Transaction Package

Our business savings services are designed with your business needs in mind, no matter what size. Our flexible savings account options are designed to help you manage and grow your business.

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Simply Savings:
Our savings with a low minimum balance requirement offers your business the ability to start earning a higher interest rate on your excess funds and the interest rate is tiered based on your account balance. See interest rate tiers.
Business Savings:
With a low minimum balance requirement, this account offers your business the ability to start earning interest on your excess funds and the interest rate is tiered based on your account balance.
  • $500 Average Available (collected) Balance (AAB) requirement to waive monthly service charges(B3)(B5)
  • 3 withdrawals per statement cycle at no charge
  • Earns interest on a tiered rate
Business Money Market Savings:
This account offers higher interest-earning potential on your business funds and with this tiered account the more money you put in, the higher your rate will be.
  • $10,000 Average Available (collected) Balance (AAB) requirement to waive monthly service charges(B3)(B5)
  • Starts earning interest at $10,000 Available (Collected) Balance (AB) with a higher rate than the Business Savings(B4)(B5)
  • 6 withdrawals per statement cycle at no charge
Business Certificates of Deposit:

Our short and long term CDs are available from 3 to 60 months and offer competitive rates for your short or long term savings needs.

  • $2500.00 minimum opening balance for 30-90 day Certificates
  • $1000.00 minimum opening balance for 3-60 month Certificates
  • 15 & 33 Month Specials with a great interest rate

Business Savings Account Options

Simply Savings((B1)Business SavingsBusiness Money Market SavingsSweep Account(B2)Transaction Account
Opening Deposit$100$100$10,000$1,000$10,000
Average Available (collected) Balance (AAB) for no monthly service charge(B3)(B5)
(Item charges may still apply)		$100
Based on Average
Available (Collected) Balance (AAB)(B3)(B5)		$500$10,000N/AN/A
Monthly Service Charge$2(B1)$2$15None$20 Emailed
Daily Sweep Confirmation Statement
Images On StatementsN/AN/AN/AN/AIncluded
Available (Collected) Balance (AB) to Earn Interest(B4)(B5)Yes
Based on Tiered Split Balances on the Available (Collected) Balance (AB)(B5)		Yes
All Balances		Yes
Tiered on Balance – $10,000
Minimum Daily Available (Collected) Balance		Yes
Based on Tiered Split Balances		N/A
Special Features/ Item Charges$2 per withdrawal over 6 per statement cycle (B1)$1 per withdrawal over 3 per statement cycle$10 per debit
over 6 per statement cycle		***All service fees are applied to Corporate Transaction Account***$0.075 per check or deposit, $0.02 per on-us check deposited item, $0.08 per not-on-us(transit) check item deposited.

(B1) All Simply Savings accounts will incur a $2.00 charge per withdrawal/debit over 6 per statement cycle. A $2.00 Low Balance Service Fee is charged when the Average Available (collected) Balance (AAB)(B4)(B5) is below $100.00 for the statement cycle. The interest for this account is based on variable rates for each “Split Balance” tier. See further details on the split balance tiers . Only one (1) Simply Savings account is permitted per primary Tax ID/Social Security Number.

(B2) The Corporate Sweep Checking is a Non-FDIC INSURED short term obligation. The account is securitized by Government Treasury or Agency Bonds. You are required to have a daily statement delivered to you.

(B3) The Average Available (collected) Balance (AAB) is calculated by adding the available principal balance in the account for each day of the period and dividing that figure by the number of days in the period. 

(B4) The Interest Rate and Annual Percentage Yield (APY) will depend upon the Available (Collected) Balance (AB) in the account according to the applicable rate and balance tier. Interest is calculated daily based on the (AB) in the account according to the applicable rate and balance tier. Daily interest totals are then combined and applied to the account as a single interest total at the end of the statement period.

(B5) The available balance is the account balance, less unpaid deposited items drawn on other financial institutions in the process of collection.

For current rate information please E-mail Grinnell State Bank or contact a Personal Banker at one of our branches.

***Sweep Account and Transaction Account are an account package. Both accounts are required with the package, along with signing a Sweep Account Agreement.

Rates Valid as of October 1, 2025.

Important Information about Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, Federal Law requires all financial institutions to obtain, verify, and record information that identifies each person or business that opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that allows us to identify you. We may also ask to see your driver’s license or other identifying documents.

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Our friendly staff is ready to help you create a new online business savings account or transfer your existing business account to Grinnell State Bank.

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BENEFITS OF YOUR ACCOUNT

Bringing the Bank to you

We want to make banking easy for you with 24/7 access to your accounts and convenient access to services. Have 24/7 access to all of the following without having to step foot in the bank:

Your Current Accounts

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