Place your trust in deposits expertise
The ever-growing array of deposit solutions can astound even seasoned corporate finance leaders. The Deposit & Liquidity Solutions team at Synovus can explain your options and help you craft a strategy tailored to both the current interest rate environment and your investment policy statement.
Commercial deposit products
Commercial deposit products are offered by banks and financial institutions to help businesses, corporations, and other commercial entities manage cash flows, make transactions, earn interest, and access banking services tailored to their specific requirements. Here are some common types of commercial deposit products.
Commercial checking accounts
Operating accounts – Used for day-to-day transactions, such as receiving payments, making payments, and managing cash flow
Interest-bearing accounts – Offer interest on the account balance, providing businesses with the opportunity to earn a return on idle funds.
Savings accounts
Business savings accounts – Provide businesses with a secure place to hold excess funds while earning interest.
Money market accounts – Combine features of savings and checking accounts, offering higher interest rates while providing limited checkwriting capabilities.
Certificates of deposit (CDs)
Time deposits – CDs are time-bound deposits where businesses lock in funds for a specific period in exchange for higher interest rates.
Jumbo CDs – Offer higher interest rates for larger deposit amounts, providing businesses with an opportunity to earn more on their excess funds.
Sweep accounts
Cash management accounts – Automatically transfer excess funds from checking accounts to interest-bearing deposit and investment solutions, optimizing liquidity management.
Enhanced FDIC insured deposit products
Insured deposit accounts and CDs – Provides businesses and other depositors with a secure and convenient solution for managing large deposits, maximizing FDIC insurance coverage, and earning competitive returns on their funds through a network of participating banks.
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