Small Business - Banking

Alma Bank offer s a wide range of deposit accounts with convenient services including 24-7 telephone banking, internet banking, bill payment services, electronic statement, Debit cards and more. 

Checking Accounts

Basic Business Checking
This is a non-interest bearing account with low minimum balance requirement. 

Detail information on fees and restrictions will be available upon request by calling our Customer Service representatives at (718) 267-ALMA (2567).  You may also stop by any of our branch locations near you during normal business hours.

Non-Profit Checking
This is a non-interest bearing account with no minimum balance requirements and unlimited check writing privileges. 

Detail information on fees and restrictions will be available upon request by calling our Customer Service representatives at (718) 267-ALMA (2567).  You may also stop by any of our branch locations near you during normal business hours.

Business Money Market
This is a tiered variable rate account with limited check writing privileges and low minimum balance requirement.  The interest rate and annual percentage yield (APY) may change without notice.  Daily balance less than $1,000.00 will not earn interest or annual percentage yield. To obtain the annual percentage yield disclosed, you must maintain a minimum daily balance of $1,000.00.  We use the daily balance method to calculate interest on this account. This method applies a daily periodic rate to the balance in the account at the end of each day.  We credit interest monthly on the day the statement closes on a 365/365 basis (366/366 in leap years.)  Interest begins to accrue on the business day you make a deposit.  Fees may reduce earnings.  

Detail information on fees and restrictions will be available upon request by calling our Customer Service representatives at (718) 267-ALMA (2567).  You may also stop by any of our branch locations near you during normal business hours.

IOLA

This is a tiered variable rate account with no minimum balance requirements.  The interest rate and annual percentage yield (APY) may change without notice.  We use the daily balance method to calculate interest on this account. This method applies a daily periodic rate to the balance in the account at the end of each day.  We credit interest monthly on the day the statement closes on a 365/365 basis (366/366 in leap years.)  Interest begins to accrue on the business day you make a deposit. 

Detail information on fees and restrictions will be available upon request by calling our Customer Service representatives at (718) 267-ALMA (2567).  You may also stop by any of our branch locations near you during normal business hours.

Time Deposit Accounts

Business Time Deposits
This is a fixed rate and fixed term account.  The interest rate and annual percentage yield (APY) remain constant for the term of the account based on the corresponding term and balance.  Alma Bank offers terms – 1 month, 3 months, 6 months, 9 months, 1 year, 2 years, 3 years, 4 years, and 5 years.  We use the daily balance method to calculate interest on this account. This method applies a daily periodic rate to the balance in the account at the end of each day.  The interest on Time Deposit Accounts will be credited monthly on 365/365 basis (366/366 in leap year.)  Interest may be paid by adding back to the principle, transfer to your deposit account, by check or via ACH to your account at another financial institution.  To obtain the annual percentage yield disclosed, interest earned prior to maturity date must remain in the account.  All Time Deposit Account will automatically renew at the same terms at the current available rate in effect on the account’s maturity date.  There is a ten-day (calendar day) grace period, which begins the day following the maturity date.    

Early Withdrawal penalties may apply if you decided to close your Time Deposit Account prior to maturity date or after grace period is over.  Detail information on fees and restrictions will be available upon request by calling our Customer Service representatives at (718) 267-ALMA (2567).  You may also stop by any of our branch locations near you during normal business hours.