Notice: In observance of Memorial Day, all SBSI locations will be closed Monday, May 27th, 2024. Normal business hours will resume Tuesday, May 28th, 2024.

Business Savings

The best bank account for business helps your money grow.

Mainely Preferred Business Savings

Earn more with it as your balance grows in this tiered interest account. Saco & Biddeford Savings offers a tiered account for every need, from small business to large enterprises.

  • Tiered interest rates
  • ATM/Debit access with a Checking Account as the primary account
  • Free direct deposit and automatic withdrawals
  • Free Online Bill Pay and Business Online Banking
  • Free Mobile Banking and Mobile Check Deposit
  • Free eStatements
  • Free Telebanker
  • No maintenance fee
  • $0 - $24,999.99
  • $25,000 - $49,999.99
  • $50,000 - $99,999.99
  • $100,000 - $249,999.99
  • $250,000 - $499,999.99
  • $500,000 - $749,999.99
  • $750,000 +

1No charge by Bank. Additional vendor charges apply.

HSA Accounts

Growing your business takes hard work and a dedicated team, and we understand the need to balance rising health care costs. Our Health Savings Account is an affordable approach to health care for many employers and their employees. 

  • Multiple tax benefits
  • Covers a wide range of qualified medical expenses
  • Reduces out-of-pocket high-deductible health plan costs
  • Earns interest with zero tax burden
  • Flexibility to pay current medical expenses or save for future needs
  • Tax-deductible contributions, FDIC-insured
  • Tax-deferred earnings
  • Tax-free distributions, if qualified
  • Lifetime account with no spending deadlines
  • Great recruitment and retention tool
  • No maintenance fee

NOTE: We strongly recommend seeking the counsel of an attorney and/or other qualified tax advisor on the specific legal and tax consequences of any health savings plan for your particular needs.

Compare Accounts

Mainely Preferred Business SavingsHealth Savings Account
The right fit if you want…A higher rate and dividends for higher balancesA smart way to manage rising health care costs
Minimum Balance RequirementNoneNone
Monthly Service ChargesNoneNone
Free ATM Withdrawals1checkedchecked
Free Online Business Bankingcheckedchecked
Free Mobile Banking and Mobile Check Depositcheckedchecked
Free eStatementscheckedchecked
Other BenefitsTiered interest rates, monthly dividendsLifetime account with no spending deadlines
1No charge by Bank. Additional vendor charges apply.

Calculators

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